With a diversified, integrated, and robust business portfolio, our supply, trading, and marketing model will mitigate oil price volatility, generate additional revenues, and expand opportunities for conversion industries, local manufacturers, and service providers — all of which drive job growth and value creation.
Continuing our journey to become the world’s leading integrated energy and chemicals company, in 2016 we created additional value from our resource base by progressing a suite of major downstream projects.
Adding value through integration
Our refining and chemicals facilities in Saudi Arabia — some wholly owned, some ventures with global companies — increase opportunities for domestic conversion industries, manufacturers, and service providers, adding value to the Kingdom’s resource base.
In refining, we made steady progress on our wholly owned Jazan Refinery, which includes an integrated aromatics complex, in the Kingdom’s southwest. In chemicals, we started up the mixed feed steam cracker with the capacity to crack 85 million scfd of ethane at Sadara, our joint venture with The Dow Chemical Company in Jubail Industrial City. With our partner Sumitomo of Japan, we neared completion of an expansion at Petro Rabigh, our integrated refining and chemicals complex on the Red Sea coast. And we launched Arlanxeo, a specialty chemicals joint venture headquartered in the Netherlands.
Unlocking the greater potential value inherent in hydrocarbon resources lies at the heart of our downstream strategy. We plan to capture synergies by integrating at both the operational and geographical level — connecting oil and gas supply, refining, chemicals, and base oils in regions of high growth potential. Our integrated business model enables us to attain higher value from every hydrocarbon molecule that we produce and grow our global market share.
Saudi Arabia’s endowment of oil and gas, our expanding network of refining and chemicals facilities integrated with industrial parks, and geographic proximity to major markets in Europe and Asia all combine to create favorable conditions for investment, growth, and even greater demand.Read more