Total SA, Europe’s third-biggest oil company, said it’s not interested in expanding its chemical business in the Persian Gulf beyond Saudi Arabia and Qatar.
“We are not looking for any other country at the moment apart from Saudi Arabia and Qatar,” Francois Cornelis, Total’s president of chemicals, said in an interview today at a petrochemicals conference in Dubai.
Saudi Aramco is seeking global partners to develop specialized chemicals products from its refineries, Aramco’s Chief Executive Officer Khalid al-Falih told the conference. He wants to see chemical and petrochemical sales from the region grow fivefold to $200 million in the next decade.
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