Qatar Petroleum enlists Chevron for huge petrochemical project

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Qatar Petroleum enlists Chevron for huge petrochemical project
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Qatar Petroleum signed an agreement with U.S. oil major Chevron on Monday to dev...

FILE PHOTO: Chevron is seen in Los Angeles, California, United States, April 12, 2016. REUTERS/Lucy Nicholson/File Photo

Chevron will own a 30% stake in the complex, with the rest owned by Qatar Petroleum, the Qatari energy company’s chief executive Saad al-Kaabi told a news conference in Doha. The Saudi Arabian and UAE national oil companies, Saudi Aramco and the Abu Dhabi National Oil Company , have both announced massive plans to boost their refining capacity and petrochemicals business.

Qatar produces about 2,300 tonnes of polyethylene, which is widely used in the packaging industry, a year and the plant will raise its output potential to about 4,300 tonnes.

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