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Petro Rabigh Unveils Tender for Ethylene Procurement with Mid-November Shipment
Petro Rabigh Unveils Tender for Ethylene Procurement with Mid-November Shipment

Petro Rabigh Unveils Tender for Ethylene Procurement with Mid-November Shipment

  • 02-Nov-2023 5:59 PM
  • Journalist: Shiba Teramoto

Petro Rabigh, a notable Saudi petrochemical company that operates as a joint venture between two industry giants, Saudi Aramco and Sumitomo Chemical, has made a significant announcement. The company has initiated a tender for the sale of a spot shipment of ethylene. This ethylene shipment is scheduled for delivery during the first half of November and will originate from the city of Rabigh in Saudi Arabia.

Interested parties wishing to participate in this tender for the procurement of a batch of 6.5 thousand tons of ethylene, with a designated shipment date of November 14-15, must submit their applications by the inclusive deadline of November 2. It is at this point that the tender is set to conclude.

This development follows a prior announcement where Petro Rabigh, as a joint venture between Saudi Aramco and Sumitomo Chemical, had released a tender for the sale of a spot batch of ethylene. The previous tender pertained to the shipment of ethylene during the first half of October, also originating from Rabigh, Saudi Arabia. In that instance, interested parties were required to submit their applications for the procurement of a batch comprising 6.5 thousand tons of ethylene, with a shipment schedule set for October 8-10. The tender for the October shipment was slated to conclude on September 25.

Additionally, a review conducted by ScanPlast reveals that the supply of polypropylene to the Russian market during the first eight months of 2023 totaled 1,034.76 thousand tons. This calculation takes into account the formula of production plus import, minus export, while excluding exports to Belarus and Kazakhstan.

Petro Rabigh's decision to initiate a tender for ethylene shipments underscores the company's proactive approach in facilitating the trade of crucial petrochemical products in the market. As a joint venture between industry leaders Saudi Aramco and Sumitomo Chemical, Petro Rabigh leverages its strategic positioning and resources to cater to the demands of the global petrochemical industry.

The tender announcements for spot ethylene shipments in both October and November reflect the company's commitment to offering flexibility and responsiveness to the market's evolving needs. These tenders provide interested parties with the opportunity to secure a supply of ethylene, a vital raw material in various industries, ensuring the consistent flow of production processes.

The calculated figure of 1,034.76 thousand tons, representing the supply in the first eight months of 2023, signifies a notable 10% increase when compared to the same period in the previous year. This observation underscores the industry's resilience and its capacity to adapt to changing market conditions, demonstrating its commitment to fulfilling the needs of diverse sectors that rely on polypropylene as a fundamental material.

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