Saudis See Chemical, Oil-Refining Bonanza Along U.S. Gulf Coast
- World’s biggest crude exporter studying new U.S. facilities
- North America’s largest refinery could double in capacity
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Saudi Arabia signaled its intent to expand chemical production along the U.S. Gulf Coast and potentially double the size of North America’s biggest oil refinery.
The kingdom’s state-owned crude producer is joining with U.K. oilfield-services firm TechnipFMC Plc to assess the potential for producing ethylene, a key component in plastics, Saudi Aramco’s Motiva Enterprises LLC unit said in a statement Saturday. A second accord with Honeywell International Inc. could lead to the construction of a new manufacturing complex in the heart of the U.S. petrochemicals industry.