GCC petrochemical industry must unite to compete

The Gulf Cooperation Council (GCC) petrochemical producers, particularly small ones, need to cooperate with one another to counter the global trend of fewer and larger companies. To compete effectively, these regional producers should combine their production, marketing, and research and development (R&D) efforts within the framework of a regional petrochemical producers' association.Some GCC producers have implemented some elements of this business strategy. For example, Saudi Basic Industries Corp.'s (SABIC) restructuring merged several similar business activities: two fertilizer companies, Saudi Arabian Fertilizer Co. (SAFCO) and National Chemical Fertilizer Co. (Ibn Al-Baytar)...

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