30 January 2016
Husain: 2016 will be difficult & 2017 should be better

Kuwait - EQUATE Petrochemical Company, Kuwait first international joint-venture in this industry, sponsored the Kuwait Energy Forum 2016 organized by Petroleum Economist as part of the company's contribution in developing the national oil, gas and petrochemical sectors.

EQUATE President & CEO Mohammad Husain participated in a panel discussion with former Petrochemical Industries Company (CEO) Asaad Al-Saad and moderated by Petroleum Economist Senior Consultant Richard Banks.

The panel addressed the outlook for the Kuwaiti petrochemical sector locally and internationally; new developments regarding the upcoming Kuwait Petrochemical & Refinery Company (KPRC); feedstock limitations in the petrochemical industry; and the current state of the global economy in light of dropping oil prices.

Husain said, "2015 was a challenging year, and 2016 will be difficult, but next year should be better in terms of prices as supply and demand will become more balanced. For Kuwait to maintain its sustainable role in the petrochemical industry, we must seek more integration through devising innovative solutions, such as developing petrochemical value parks for downstream industries."

Husain added, "Feedstock availability is still a matter to be considered when addressing the growth of our petrochemical sector. Through integration, by having a unified outlook and combining efforts for this sector, we will be able to truly become 'Partners in Success'."

The forum was held under the patronage of Deputy Prime Minister, Minister of Finance and acting Minister of Oil His Excellency Anas Al-Saleh and attended by the Iraqi Minister of Oil Adel Abdul-Mahdi, Kuwait Petroleum Corporation Deputy Chairman & CEO Nizar Al-Adsani, as well as several prominent figures from around the world.

About
Established in 1995 as Kuwait's first international joint-venture in this industry, EQUATE Petrochemical Company (EQUATE) embodies its "Partners in Success" slogan through the partnership between Petrochemical Industries Company (PIC), The Dow Chemical Company (Dow), Boubyan Petrochemical Company (BPC) and Qurain Petrochemical Industries Company (QPIC). Commencing production in 1997, EQUATE is currently the owner and single-operator of several fully integrated world-class petrochemical units, within the Greater EQUATE joint-venture, that annually produce over 5 million tons of the highest quality grades of Ethylene, Polyethylene (PE), Ethylene Glycol (EG), Polypropylene (PP), Styrene Monomer (SM), Paraxylene (PX), Heavy Aromatics (HA) and Benzene (BZ). The products are marketed throughout the Middle East, Asia, Africa and Europe. Alongside with being a leading industrial organization, EQUATE dedicates its utmost commitment and care to overall sustainability wherever it operates in cooperation with public and private bodies, including employees, the society and customers, in all relevant fields, such as human development, environment, education, health and public awareness. www.equate.com

© Press Release 2016