Saudi Sipchem Mulls U.S. Shale Venture in First Foreign ForaySource: www.export-egypt.com 1/30/2018, Location: Middle East |
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Saudi International Petrochemical Co. is considering investing in the U.S. shale industry in what would be the company’s first foreign venture as it faces higher costs and a shortage of feedstock at home in Saudi Arabia.
Sipchem, as the business is known, may seek a U.S. partner in its effort to tap into the booming shale industry, though Chief Executive Officer Ahmad Al Ohali said that he foresees risks in such an expansion. “It’s not going to be easy because we don’t know the business landscape in the U.S., but definitely we are targeting hopefully to do something |
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