Saudi Arabia’s Sabic hires advisers to look at options as competitiveness of the sector comes under pressure

https://archive.is/i56HN

Chemical companies are putting European assets up for sale as they review their operations in the region to cope with high energy prices and competition from newer plants in Asia and the Middle East.

Sir Jim Ratcliffe, the billionaire owner of petrochemicals group Ineos, has consistently warned that Britain’s chemical industry is heading for extinction because of high energy prices and carbon taxes.

  • splendoruranium@infosec.pubEnglish
    21·
    1 day ago

    In Europe they can’t do much harm, we have very strict regulations. But without chemical industries, we’ll not have modern society: no food for 8 billions, no tech, no gas and no batteries, no plastic. You want to remove from Europe the chemical industry and than what?

    There is a minimum viable petrochemical sector. It’s not the current one.