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SABIC to Merge Its Two Fully-owned SADAF, PETROKEMYA

SABIC to Merge Its Two Fully-owned SADAF, PETROKEMYA
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SABIC to Merge Its Two Fully-owned SADAF, PETROKEMYA

SABIC to Merge Its Two Fully-owned SADAF, PETROKEMYA

Saudi Basic Industries Corporation (SABIC) intends to merge its two wholly-owned subsidiaries as part of a strategic transformation plan to increase efficiency and competiveness of its global operations.

SABIC announced on Wednesday its plan to merge Saudi Petrochemical Company (SADAF) and Arabian Petrochemical Company (PETROKEMYA).

All the assets, rights, liabilities and obligations of SADAF will be transferred to PETROKEMYA and it is expected that the merger will be completed during the second half of 2019.

"SABIC’s aim with this merger is to create a more efficient entity which will increase the optimisation of assets and unlock value from the synergies between the two companies’ product streams,” SABIC said.

SADAF will cease to exist as a legal entity as a result of merger.

SADAF operates a complex in Al Jubail, Saudi Arabia, which includes six petrochemical plants with a total production capacity of more than 4m tonnes/year.

PETROKEMYA's products include ethylene, propylene, butene, benzene, butadiene, polystyrene, polyethylene, polyvinyl chloride and acrylonitrile butadiene styrene.

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‘Powering the Future Toward Net Zero’ Forum Starts Sunday in Dammam

‘Powering the Future Toward Net Zero’ Forum Starts Sunday in Dammam
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‘Powering the Future Toward Net Zero’ Forum Starts Sunday in Dammam

‘Powering the Future Toward Net Zero’ Forum Starts Sunday in Dammam

The International Forum "Powering the Future Toward Net Zero", organized by the Gulf Cooperation Council Interconnection Authority (GCCIA) in collaboration with the Electric Power Research Institute (EPRI), GO15, and Med-TSO in Al Khobar, will be held in Dammam on October 27 under the patronage of Governor of the Eastern region Prince Saud bin Nayef bin Abdulaziz.
GCCIA CEO Eng. Ahmed Al Ebrahim stressed that the main sessions of the two-day forum will discuss the energy sector's strategy to achieve net-zero emissions and accelerate decarbonization efforts through global collaboration and innovation, SPA reported.
He pointed out that discussions will revolve around enhancing the regional grid to enable a reliable, affordable, and zero-emissions future. They will also highlight the role of a strong regional grid infrastructure in achieving net-zero emissions targets, showcase grid improvement technologies, and explore modern technologies, advanced planning, and operational capabilities necessary to enhance grid resilience, affordability, and market shifts essential for supporting the energy transition.
Discussions at the forum will also cover emerging technologies in AI, grid operations, and planning.
Al Ebrahim said that a variety of discussions led by experts from GCCIA, GO15, Med-TSO, and EPRI, and covering critical topics such as grid planning, market reforms, the role of AI in grid operations, and the deployment and enhancement of grid technologies will also be held during the forum.
He added that CEOs, advisors, and government representatives from the GCC, North America, Europe, and Asia will provide unique perspectives in the course of discussions, ensuring a comprehensive exploration of strategies to enable a reliable and sustainable energy transition.