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Article: Flood of petrochemicals from Middle East threatens market share of Chinese producers.(Industry overview)
- Article from:
- China Business News
- Article date:
- April 15, 2009
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Flood of petrochemicals from Middle East threatens market share of Chinese producers
By Terry Wang Tianjin. April 15. INTERFAX-CHINA - Long seen as the center of the world's crude oil production, the Middle East is now emerging as a petrochemical powerhouse that is encroaching on several key Chinese markets.
The buildup of ethylene production capacity in the Middle East that is scheduled to start operation in 2009 and 2010 will lead to the flooding of China's market with downstream petrochemicals, Hu Jie, chief engineer of PetroChina Refining & Chemicals Co. Ltd., told Interfax at Lnoppen's 4th Annual Petrochemical Summit on April 9.
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