Items Tagged with 'sinopec'

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Global petrochemical producers are facing fierce competition from U.S. companies that have been taking advantage of the huge amounts of natural gas available from their own oil and gas fields and used as feedstock for petrochemical production.

Chinese oil and gas company Sinopec says it is striving to lower its petrochemical production costs and optimize its product mix in order to stave off competition from the U.S.

The vast natural resources of China are one reason why the country has become one of the fastest growing economies in the world. After focusing on utilizing coal deposits for decades, the country is now looking at ways to exploit its shale gas.

Wealthy investors from the Arabian Gulf are eyeing markets in southeast Asia and investing huge sums of money in petrochemical production in the region.