SABIC CEO says integration of upstream and downstream is a necessity not a choice

04/12/2019 Argaam Special

 

Integration of upstream and downstream segments is necessity and not a choice, as it helps generate more value and revenues, according to Yousef Al-Benyan, Vice Chairman and CEO of SABIC, and Chairman of GPCA.

 

Speaking during the 14th edition of the GPCA Annual Forum, which takes place in Dubai, Al-Benyan said that the ongoing integration of upstream and downstream segments in Saudi Arabia is not late, as it is a natural process. “But the most important thing is to operate the two segment in different modes is key to maintain your competitiveness in the market,” he said.
 

Al-Benyan Also said that partnership with major players is key for SABIC, adding that the company is exploring new partnership in China, Africa and the US, noting that his company has renewed its partnership with Exxonmobile for another 20 years.

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