Mobil gets away first in the race to build ethylene plants

Mobil has become the first foreign joint venture partner to agree with Sabic on the construction of a giant ethylene plant, the kingpin of the Saudi petrochemical development plan. By doing so it has stolen a march on its competitors, even though such key matters as input prices and oil entitlements have yet to be decided upon. Shell is expected to be the next ethylene partner to sign.