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Follow on Google News | Recently released market study: United Arab Emirates Petrochemicals Report Q3 2011Recently published research from Business Monitor International, "United Arab Emirates Petrochemicals Report Q3 2011", is now available at Fast Market Research
The availability of naphtha in the UAE will be boosted by the refinery expansion at Ruwais, helping to retain the Emirati industry's competitive edge. The expansion will more than double the refinery's oil processing capacity to over 1mn b/d by 2014, from 774,000b/d in 2010. This will increase Abu Dhabi's naphtha surplus by 50%, half of which will be dedicated to the planned Chemaweyaat complex, which the emirate hopes will be the world's largest petrochemical complex. ------------------------------------------------------------ Full Report Details at - http://www.fastmr.com/ ------------------------------------------------------------ Nevertheless, currently planned projects are likely to proceed over the next five years. Borouge is confident upstream supply will be sufficient for its expansion programme. Although BMI has in the past voiced concerns that Borouge 3 could be scaled back or scrapped altogether due to a lack of feedstock, Borouge's feasibility studies show that there is enough feedstock to supply the planned plants without having to rely on heavier feedstocks such as naphtha. The second phase of the Borouge complex at Ruwais, Abu Dhabi, began production in mid-2010 with a 540,000tpa PE unit coming onstream in July. In Q410, an olefins conversion unit producing 752,000tpa propylene, together with 50,000tpa of propylene delivered from Adnoc's refinery, began supplying the two Borstar PP units with combined capacity of 800,000tpa. Borouge 2 will triple Borouge's polyolefins capacity to 2mn tpa when it becomes fully operational by mid-2011. An additional 2.5mn tpa is scheduled online in 2013, following the completion of Borouge 3. The new capacity will be marketed mainly to the Middle East and Asia Pacific, targeting high-end applications in the pipe and high performance packaging areas. Borouge 3 will have capacities of 1.43mn tpa PE and 960,000tpa PP supplied by a 1.5tpa ethane cracker, with US$4.6bn-worth of construction contracts signed in Q210. Chemaweyaat will include an olefins plant, an aromatics complex and a range of downstream polymer and chemical units and was due to start production in 2015. The naphtha cracker will have capacity of 1.5mn tpa, but the exact details of the capacities of downstream units are unclear. It was due to be located in Khalifa Industrial Zone at Taweelah, but recent reports have suggested it will be moved to Ruwais. The uncertainties around the project could lead to a delay in completion beyond 2015. As such, we have not included it in our forecasts. The UAE's main weakness is its dependence on commodity petrochemicals and a lack of high performance and speciality grades, which can add value to exports and put the industry in direct competition with producers in Japan and other more mature markets. Key to overcoming the problem of lack of diversification is the development of plastics conversion industries. In BMI's Middle Eastern Petrochemicals Business Environment Ratings matrix, the UAE has a score of 63.0 points, unchanged since the previous quarter. It has jostled with Kuwait for third place in recent months, but while the UAE has undergone massive expansion, Kuwait has suffered as a result of policy reversals in the refining and petrochemicals sectors which has affected its market risk score, while its overall country risk rating has fallen in line with global economic trends. This quarter it has risen in rank to second place as Qatar's score has fallen, putting it 1.0 point ahead of Qatar and 13.3 points behind the regional leader Saudi Arabia. Whether the UAE retains that position will depend on its ability to stay ahead of Qatar in country risk ratings, coupled with the further expansion of Borouge in 2013 and the proposed Chemaweyaat 1 set to bolster its petrochemicals capacities. Report Table of Contents: SWOT Analysis - UAE Petrochemicals Industry SWOT - UAE Political SWOT - UAE Economic SWOT - UAE Business Environment SWOT Global Petrochemicals Overview - Petrochemicals Market Overview - Financial Results - Global Oil Products Price Outlook - Table: Oil Product Price Assumptions, Q410-Q411 (US$/bbl) - Table: Oil Product Price Data And Forecasts, 2008-2015 (US$/bbl) Gulf Regional Overview - Table: Announced Ethylene Crackers In The Gulf Region UAE Market Overview - Table: The UAE's Petrochemicals Sector - Cracker Capacity, 2006-2013 ('000 tpa) Industry Trends And Developments - Dubai And The Northern Emirates - Overseas Investment - Developments In Related Industries - Table: Major UAE Oil And Gas Concessions - Plastics Futures Business Environment - Petrochemicals Business Environment Ratings - Table: Middle East And Africa Petrochemicals Business Environment Ratings - Business Environment Outlook Industry Forecast Scenario - Petrochemicals Outlook - Table: The UAE's Petrochemicals Projects - Table: The UAE's Petrochemicals Sector, 2007-2015 ('000tpa, unless otherwise stated) - Macroeconomic Forecast - United Arab Emirates - Economic Activity, 2006-2015 Company Profiles - Abu Dhabi Fertilizer Industries (Adfert) - Abu Dhabi National Oil Company (Adnoc) - Abu Dhabi Polymers (Borouge) Glossary Of Terms - Table: Glossary Of Petrochemicals Terms BMI Methodology - How We Generate Our Industry Forecasts - Chemicals And Petrochemicals Industry - Cross Checks - Business Environment Ratings - Table: Petrochemicals Business Environment Indicators And Rationale - Weighting - Table: Weighting Of Indicators About Business Monitor International Business Monitor International (BMI) offers a comprehensive range of products and services designed to help senior executives, analysts and researchers assess and better manage operating risks, and exploit business opportunities, across 175 markets. BMI offers three main areas of expertise: Country Risk BMI's country risk and macroeconomic forecast portfolio includes weekly financial market reports, monthly regional Monitors, and in-depth quarterly Business Forecast Reports. Industry Analysis BMI covers a total of 17 industry verticals through a portfolio of services, including in-depth quarterly Country Forecast Reports. View more research from Business Monitor International at http://www.fastmr.com/ About Fast Market Research Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156. # # # Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available. End
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