GCC PetroChem Exports On Rise But Still Face Supply Problems

GCC PetroChem Exports On Rise But Still Face Supply Problems

Gulf petrochemical and chemical exports exceeded 65 million tonnes last year, in comparison to less than 36 million tonnes in 2006, according to an expert.

Mohammad Husain, president and chief executive officer, Equate Petrochemical Company, Kuwait’s first international joint-venture in this industry, said: “The Gulf exports 80% petrochemical and chemical production.”

The firm sponsored the seventh Gulf Petrochemicals and Chemical Association (GPCA) Supply Chain Conference 2015.

As part of its participation in the conference, it also sponsored a number of professors and students from the College of Engineering and Petroleum at Kuwait University to attend the event and interact with other delegates.

Husain, who is also a GPCA board member and heads the association’s Supply Chain Committee, added: “During 2013, the biggest export destination of the Gulf’s petrochemicals and chemicals is Asia with nearly 60%, followed by Europe with almost 13%.”

“Despite increasing exports of petrochemicals, which form the second main source of income after petroleum for Gulf countries, the industry is still facing serious supply chain challenges relevant to port congestions, inadequate infrastructure and instability of market conditions,” he said.

“Thus, devising innovative solutions to overcome such challenges is a priority for this conference with the participation of GPCA members, industrial experts and Kuwait University to embody our slogan ‘Partners in Success’. ”

As part of the conference’s activities, Equate senior executive for administration and corporate services Abeer Al-Omar participated in a workshop on “Women Empowerment in the GCC” and delivered a presentation on “Future Supply Chain Capability Development.”

Held on the theme of ‘Strengthening the Supply Chain Backbone – Paving the Way Forward for 2020’, the conference gathered top executives from petrochemical companies, ports, consultancies and customs authorities to explore strategies that improve accessibility to and from the GCC that help the region achieve its developmental goals.

Source: Trade Arabia


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