SAUDI SECTOR SPOTLIGHT ON PETROCHEMICALS & ENERGY, POWERED BY PIF GLOBAL ASSET MANAGEMENT FORUM

The panel discusses the petrochemical sector in Saudi Arabia, focusing on current challenges and future opportunities. Engineer Mohamed, Assistant Minister of Energy, emphasizes the country's competitive feedstock and the vision for sector growth, including expanding into downstream and specialty chemicals. Fawaz Elfawaz, CEO of Tasneeh, highlights the importance of cost optimization and potential consolidation within the industry to capture value. Faiz Alsharif, CEO of Sadara, shares Sadara's story as an example of industry collaboration and the availability of skilled manpower. Panelists agree that efficiency and scale are crucial for navigating the current oversupply. They discuss the potential for improving product mix with specialty products. Ibrahim Rashed, CEO of Sibkim, shares his experience with consolidation, highlighting the benefits of synergies and infrastructure sharing. The conversation emphasizes government support and the potential for the Kingdom to become an export hub for specialty chemicals.