Sabic shuffles businesses, project

The Saudi chemical maker Sabic is reorganizing its specialty polymer business and reconfiguring its proposed “crude-to-chemicals” complex with Saudi Aramco, which bought a 70% stake in the firm earlier this year. Sabic says it will carve out the specialty polymers into a stand-alone business as early as next month. The new business will include its Noryl polyphenylene oxide, Ultem polyetherimide, and compounds and copolymers businesses. The company sought to merge these businesses with Clariant’s masterbatch business, but those talks broke down last year and Clariant instead sold the masterbatch unit to Avient. Separately, Sabic and Aramco are reevaluating the scope of their crude-to-chemicals complex. The companies originally envisioned a new complex that would use new technology to convert 400,000 barrels per day of crude oil into 9 million metric tons per year of petrochemicals. They now say the investment will incorporate existing Aramco refineries in Saudi Arabia with a new ethylene cracker and olefin derivative units.