DATA IN THE PIPE­LINE

Qatar Today - - DEVELOPMENT > VIEWPOINT -

Since the first petro­chem­i­cal joint ven­ture in the Mid­dle East in 1981, the in­dus­try has rapidly ex­panded with mega projects still un­der­way, es­pe­cially in Saudi Ara­bia, the UAE and Kuwait. The GCC petro­chem­i­cals in­dus­try man­u­fac­tured 136.2 mil­lion tons (m/t) of prod­ucts in 2014 – 13% of global out­put – and gen­er­ated $87.4 bil­lion in rev­enue, ac­cord­ing to the Gulf Petro­chem­i­cals and Chem­i­cals As­so­ci­a­tion.

With oil prices sink­ing since mid-2014 to a 12-year low in early 2016 at just be­low $30 a bar­rel ( bl), the GCC's na­tional oil com­pa­nies are fol­low­ing a wise strat­egy and redi­rect­ing their bud­gets into the more prof­itable down­stream sec­tor.

Grow­ing com­pe­ti­tion from a sanc­tions­free Iran and a tight­en­ing eco­nomic out­look are re­fo­cus­ing Gulf petro­chem­i­cal pro­duc­ers' at­ten­tion on big data an­a­lyt­ics. Com­pa­nies are ex­plor­ing how to in­te­grate big data into their daily op­er­a­tions in a

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