Page 84 - Baker Hughes REPORT - FEBRUARY 2024

2/14/24, 4:29 PM Dussur, Baker Hughes Inaugurate Petrolite Chemical Manufacturing Facility
This inauguration of the facility was under the patronage of the Minister of Energy Abdulaziz

bin Salman.

The Minister of Investment Khalid Al-Falih and the Minister of Industry and Mineral Resources,

Bandar Alkhorayef attended the inauguration.

This Petrolite chemical manufacturing facility will meet the chemical and industrial needs of

the oil fields, reported Al Yaum.

Petrochemicals

The Saudi Minister of Energy Abdulaziz bin Salman said that the growth of global demand for

petrochemicals will continue. The minister added that the sector is witnessing rapid growth.

He stressed that those who talk about the energy transition must accept the reality of today

and the future.

The Saudi Minister of Energy explained, during his speech on the sidelines of the annual GPCA

conference held in Doha last December, that the rapid growth of the petrochemical sector

and global demand for petrochemicals will necessarily be reflected on the volume of demand

for hydrocarbons as raw materials.

“Petrochemicals will stay, and the hydrocarbon sector will continue to generate income and

generate money for investor. Therefore, I would like to ask our friends who are talking about

transformation, to adapt to the data in their hands, and the available facts today, and for

decades to come,” said the minister.

He pointed out that petrochemicals and their derivatives constitute about 50% of our cars

components, including electric ones.

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