Refining and petrochemical
Oil and gas are used in a great number of everyday products, such as fuels, plastics and resins. These have numerous applications in transportation, household appliances, food and industrial packaging, and other sectors. Meeting all of these needs around the world is not only a giant task: it is also our mission.
ASIA & MIDDLE EAST: SERVING HIGH-GROWTH MARKETS
Asia and the Middle East are key development areas for our refining and petrochemical activities. Demand for oil products in the growing Asian markets presents a major outlet for our production. At the same time, our presence in the Middle East gives us access to considerable resources at more advantageous prices, while serving as a strategic location to serve both regions’ markets.
- In South Korea, we are partners with Hanwha at our Daesan platform. We have invested nearly $2 billion to double the site’s capacity and diversify production.
- In Saudi Arabia, we are partners with Saudi Aramco at the brand new SATORP platform, the Group’s largest to date. The site converts Saudi heavy crude into high-value-added products, primarily intended for Asian and Middle Eastern markets.