Saudi Chevron Phillips Co likely to delay start up of Jubail plant

Reports indicate that Saudi Chevron Phillips Co is likely to delay the start up of the US$3 bln petrochemical plant in Jubail from Q4-2007 to Q1-08, with an ethylene production capacity of 220,000 tpa. Saudi Chevron Phillips Company is equally owned by Saudi Industrial Investment Group and Chevron Phillips Chemical Company. The delay is reported to have prompted Saudi Aramco to make a rare term naphtha offer for October 2007-March 2008 supplies that had been initially reserved for the plant.
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