Product category:
Oil, Gas, Petrochemical Industry News
News Release from: SABIC
Edited by the Processingtalk Editorial
Team on 13 October 2004
SABIC tackles global challenges head on
Prince Saud Ibn Abdullah Ibn Thunayan Al-Saud, SABIC Chairman and Royal Commission for Jubail and Yanbu Chairman, today inaugurated the 6th SABIC Technical Meeting, entitled `Face the challenges'
Prince Saud Ibn Abdullah Ibn Thunayan Al-Saud, SABIC Chairman and Royal Commission for Jubail and Yanbu Chairman, today inaugurated the 6th SABIC Technical Meeting (STM6) entitled `Face the challenges' in Al-Jubail, Saudi Arabia He said, "SABIC will face many challenges on its way to success
This article was originally published on Processingtalk on 18 Jul 2003 at 8.00am (UK)
Related stories
Air separation plant contract for Air Products
National Industrial Gases Company, Saudi Arabia, has awarded a turnkey contract for the engineering, procurement and construction of an air separation plant to Air Products
Middle Eastern Petrochemical industry growth
Mohamed H Al-Mady, SABIC CEO, discusses the evolution of the Middle Eastern petrochemical industry at the National Petrochemical and Refiners Association Conference 2004
By overcoming them, the company will continue to play a key role in the nation's economy.
In light of the fluctuating global conditions, changing economic conditions, there is a wave of change in the liberalised world.
"Companies also face stiff competition from mergers and acquisitions and the impact following new members joining the World Trade Organisation", he added.
Further reading
Ethylene and propylene project on Red Sea coast
Saudi Basic Industries Corporation has signed a Letter of Intent with Technip for the engineering, procurement and construction of an ethylene and propylene plant at the YANSAB Complex in Saudi Arabia
Petrochemicals industry trends and challenges
SABIC explain that the petrochemical industry is undergoing major structural changes with particular respect to feedstocks, geography and demographics
"The best way to overcome these challenges is by adopting rational scientific procedures, and by working out innovative and creative solutions.
STM6 substantiates the SABIC ambition to become one of the world's leading companies.
SABIC will realise this objective by making use of scientific and technological research and by synchronising its marketing, administrative and service activities.
"The company will minimise its costs in different operations.
It will also take measures to add more value to the quality of its products and services in order to enhance its competitive capabilities.
This will ensure long-term mutual relations with local and overseas customers".
Mohamed Al-Mady, SABIC Vice Chairman and CEO added, "The annual STM event has enjoyed year on year success.
"Last year SABIC made great achievements not only in production, marketing and profits, but also in the fields of safety and environment.
For example, SABIC Affiliates have achieved 93 million man-hours without any lost-time injury.
This is a remarkable safety performance in the petrochemical industry.
"The globalisation of SABIC R and T has generated numerous international patents for the company.
The company led the invention of several important process technologies and catalyst-related technologies and products", he added.
"I expect that SABIC will become the world's largest producer of ethylene glycol by 2006 with the acquisition of Scientific Design with a 50:50 partnership with Sud-Chemie of Germany, a world leader in ethylene glycol.
Ibrahim Al-Shuweir, Chairman of the organising committee, said there has been rise in number of people participating in this year's meeting where more work papers would be submitted.
The seminar will last for three days between October 4 to 6 and will deliberate on various issues related to research, technology and other operational and technical aspects.
• SABIC: contact details and other news
• Email this article to a colleague
• Register for the free Processingtalk email newsletter
• Processingtalk Home Page
