Saudi Aramco Taps Silicon Valley Startup in Plastics Push - Bloomberg:
"Saudi Arabian Oil Co., the world’s biggest oil exporter, struck a deal to use a California startup’s chemical technology in new multi-billion-dollar crude-to-chemical factories. Saudi Aramco, as the oil giant is known, plans to employ Siluria Technologies Inc.’s process for converting natural gas left over from the crude-refining process into ethylene, the primary building block for plastics, according to a joint announcement by the companies on Wednesday. Terms of the deal were not disclosed. Siluria’s technology, known as oxidative methane coupling, is an alternative to the chemical industry’s traditional high-temperature method of processing gas, called cracking. Closely-held Siluria, which is based in San Francisco and has offices in Menlo Park, California, is headed by former Royal Dutch Shell Plc executive Robert Trout."
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