WENDY WEIRAUCH, MANAGING EDITOR Comments? Write: WW@HydrocarbonProcessing.com The petrochemi..
WENDY WEIRAUCH, MANAGING EDITOR
Comments? Write:
WW@HydrocarbonProcessing.com
The petrochemical industry is experiencing major changes, much of it revolving around feedstocks, geography and demographics. In fact, oil prices have been about 70% higher in real terms than they were two years ago, notes Mohamed Al-Mady, vice chairman and CEO of Saudi Basic Industries Corp. (SABIC).
"While oil prices may settle somewhat lower than current levels, we can say that the era of oil is not over; however, the era of 'cheap oil' is over,"
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