Dow Chemical Co., the largest U.S. chemical maker, said its joint venture with Saudi Aramcomay be among the last projects of such a size to benefit from cheaper energy and raw materials because Middle-East prices will rise.
Regional hydrocarbon prices may climb following the “inevitable” sale of Iran’s state-owned National Petrochemical Co., Dow’s Chief Executive Officer Andrew Liveris said today on a conference call with analysts. That would end up hurting the competiveness of exports from the area, he said.
“Competitive priced gas, and therefore ethane, in the Middle East has a very short time frame,” Liveris said. “Everyone is going to start having a rising tide on gas and ethane price.”
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