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Europe is facing an energy crisis, and market participants say that Middle East petrochemicalrs are expected to expand their market share in Europe

 Last Update: 2022-10-12
 Source: Internet
 Author: User

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Recently, the energy crisis caused by Europe's geopolitical problems has intensified

Market participants believe that Middle Eastern petrochemical producers can weather the economic downturn

Ayaz Hussain, head of manufacturing and energy research at Deloitte, said: "As long as oil prices do not break through the peak and remain in the range of an average of $70/b to $90/bbl, I think the Middle East chemical industry and Middle East feedstock prices are more competitive

Rami Ashmawi, senior energy expert at the Arab Petroleum Investment Corporation, a multilateral financial institution, said: "The petrochemical industry in the Middle East and North Africa region has a competitive advantage

Record gas prices, reduced oil and gas supplies in Russia and slowing economic growth have hit Europe's chemical industry

Robert Steele, senior petrochemical analyst at S&P Global, said: "As long as Gulf feedstock and energy prices remain below international levels, Gulf petrochemical producers will continue to maintain a competitive advantage

Compared to their European and Asian counterparts, petrochemical producers in the Gulf are booming, or will put competitive pressure on U.

"The loss of petrochemical capacity in Europe can be partially compensated for by increasing planned capacity and utilization in the Middle East and may drive demand for

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