Saudi Arabia has boosted petrochemical exports in the first two months of 2011 on rising demand from Asia and increased local production of ethane, as per Bloomberg.
The country shipped 4.65 mln tons of petrochemicals from its ports in January and February- this is a 6.8% rise from 4.35 mln a year ago. Saudi Arabia increased crude output by 300,000 bpd to 8.7 mln in February. Higher oil production results in an increased associated gas production, which should partly alleviate fear of ethane shortage. Ethane accounted for 73% of the country’s feedstock through 2007.