Sabic, ExxonMobil settle technology dispute

By OGJ editors
HOUSTON, Sept. 29 -- Saudi Basic Industries Corp. (Sabic) said it has reached a full and final settlement of its disputes with ExxonMobil Corp. concerning technology and a patent that can be used in the production of polyethylene.

Under terms of the settlement, Sabic and its affiliates will have the right to use the technology without royalties and will equally share in any third-party royalties from the past or future licensing of the technology by ExxonMobil.

The companies will continue to collaborate on their other ventures in Saudi Arabia.