Saudi Arabia's Ministry of Energy awards prestigious feedstock allocation for joint project between Sipchem and LyondellBasell

Core Viewpoint - Sipchem and LyondellBasell have received a feedstock allocation from the Saudi Ministry of Energy to support a joint feasibility study for a large-scale mixed feed cracker complex, which aims to manufacture petrochemical products for local and global markets while creating thousands of local jobs [1][4]. Group 1: Project Overview - The joint project will be structured with a 60% ownership by Sipchem and 40% by LyondellBasell, focusing on defining the technical, financial, and commercial aspects [1]. - The project is expected to leverage cost-advantaged feedstocks and advanced technologies to produce differentiated grades of polyethylene and polypropylene, including the Catalloy product line [2]. Group 2: Sustainability and Carbon Management - Sipchem and LyondellBasell will explore carbon management solutions, including low emission technologies, to support their and the Kingdom's net zero ambitions [3]. Group 3: Leadership Statements - Sipchem's CEO emphasized the partnership as a significant milestone for sustainable growth and enhancing their position in the petrochemical market [4]. - LyondellBasell's CEO highlighted the feedstock allocation as a crucial step in their collaboration, reinforcing their commitment to Saudi Arabia's economy [4]. Group 4: Company Backgrounds - LyondellBasell is a leader in the global chemical industry, focusing on sustainable living through advanced technology and investments, producing high-quality polymers for various applications [5]. - Sipchem, founded in 1999, is a leading innovator in the petrochemical sector in Saudi Arabia, committed to sustainability and minimizing environmental impact through energy efficiency and advanced technologies [6].