Chevron Phillips Chemical Co., the petrochemical venture of U.S. oil producer Chevron Corp. and refiner Phillips 66, is exploring ways to expand in the Middle East, including building a new plant, as per Business Week. The U.S. partnership would consider setting up a site on its own or in a joint venture, and the “entire” region is under consideration, Benny Mermans, head of Europe and Africa at Chevron Phillips Chemical’s international operations, said in an interview at a petrochemical conference in Frankfurt. The chemical company’s owners are “very supportive” of growth plans. Expansion would be financed by the chemical business itself, and Chevron Phillips would tap capital markets for further cash should the need arise. Chevron Phillips has three joint ventures in the Saudi Arabian industrial city of Jubail as well as partnerships in Qatar in Messaieed and Ras Laffan.
13-Jun-13 
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