Chevron, in a joint venture with Saudi Industrial Investment Group, says it plans to begin producing styrene and polypropylene at its plant in Jubail, Saudi Arabia. The joint venture, called Jubail Chevron Phillips Co., said the materials would be ready for export by September and the announcement represents the latest in an increasing petrochemical supply coming out of the Middle East. "There is a flood of new capacity coming on-stream in the Middle East. That region has a distinct advantage of lower energy costs," said Kevin Swift, chief economist for the American Chemistry Council.
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