SABIC eyes U.S. investments on back of shale gas boom - CEO
JUBAIL Saudi Arabia Nov 12 (Reuters) - Saudi Basic Industries Corp (SABIC) is considering investments in the United States to capitalise on the shale gas boom there, its chief executive officer told Reuters on Monday.
"We have to participate in the shale gas business and we have to participate in other sources that can be also competitive," Mohamed al-Mady said.
When asked how SABIC would participate, he said: "We can look for investment, we can look for joint ventures."
Mady also said SABIC sees a slowdown in the growth of petrochemicals in the short term in its home market and must look overseas for growth.
Saudi Aramco, the world's largest oil exporter, is now focusing on boosting gas production to help meet rapidly rising Saudi fuel demand.
- Tweet this
- Share this
- Digg this
- Pro-independence Scots narrow gap to victory ahead of vote - poll
- UK's fate in the balance as poll shows record support for Scottish independence
- Child abuse revelations divide "most shameful town in Britain"
- Kremlin adviser says military strategy to reflect Ukraine crisis, NATO expansion - RIA
- Russian forces strengthening positions in Ukraine - Kiev military