The petrochemical industry is concerned with the production and trade of petrochemicals.[ according to whom? ] A major part is constituted by the plastics (polymer) industry.[ according to whom? ] It directly interfaces with the petroleum industry, especially the downstream sector.[ according to whom? ]
The top global petrochemical companies based on different KPIs:
| Company | Country | 2008 revenues $ (billion) [1] | 2021 annual revenue $ (million) [2] | 2023 market cap $ (billion) [3] |
|---|---|---|---|---|
| BASF | Germany | 62.30 | 51.1 | |
| Dow Chemical | US | 57.51 | ||
| ExxonMobil Chemical / ExxonMobil | US | 55 | 398.6 | 466.8 |
| LyondellBasell Industries | Netherlands | 51 | ||
| INEOS | UK | 47 | ||
| SABIC | Saudi Arabia | 37.66 | ||
| Formosa Plastics Corporation | Taiwan | 31.5 | ||
| Sumitomo Chemical | Japan | 16.65 | ||
| DuPont | US | 31.83 | ||
| Chevron Phillips / Chevron Corp | US | 13 | 235.7 | 349.8 |
| Saudi Arabian Oil Company | Saudi Arabia | 605.1 | 1900 | |
| China National Petroleum Corp Petrochina Co. Ltd. | CN | 505.3 | 425.8 | |
| Sinochem Holdings | CN | 258.3 | ||
| Shell plc | CN | 381.3 | 205.6 | |
| China Petroleum & Chemical Corp | CN | 493.1 | 77.2 | |
| TotalEnergies SE | FR | 263.3 | 157.9 | |
| BP plc | FR | 241.3 | 107.1 | |
| Marathon Petroleum Corp | US | 178.8 | 58.9 | |
| Valero Energy | US | 176.3 | 55 | |
| Reliance Industries Limited | IN | 202.4 |
The economy of Azerbaijan is highly dependent on oil and gas exports, in particular since the completion of the Baku-Tbilisi-Ceyhan Pipeline. The transition to oil production in the late 1990s led to rapid economic growth over the period 1995–2014. Since 2014, GDP growth has slowed down substantially.
The chemical industry comprises the companies and other organizations that develop and produce industrial, specialty and other chemicals. Central to the modern world economy, it converts raw materials into commodity chemicals for industrial and consumer products. It includes industries for petrochemicals such as polymers for plastics and synthetic fibers; inorganic chemicals such as acids and alkalis; agricultural chemicals such as fertilizers, pesticides and herbicides; and other categories such as industrial gases, speciality chemicals and pharmaceuticals.
Petrochemicals are the chemical products obtained from petroleum by refining. Some chemical compounds made from petroleum are also obtained from other fossil fuels, such as coal or natural gas, or renewable sources such as maize, palm fruit or sugar cane.
Research and development is the set of innovative activities undertaken by corporations or governments in developing new services or products. R&D constitutes the first stage of development of a potential new service or the production process.
HELLENiQ ENERGY Holdings S.A., formerly known as Hellenic Petroleum S.A., is one of the largest oil companies in Southeast Europe and with its roots dating to 1958 with the establishment of the first oil refinery in Aspropyrgos, Greece.
LyondellBasell Industries N.V. is an American multinational chemical company incorporated in the Netherlands with U.S. operations headquartered in Houston, Texas, and offices in London, UK. The company is the largest licensor of polyethylene and polypropylene technologies. It also produces ethylene, propylene, polyolefins, and oxyfuels.
Saudi Basic Industries Corporation, known as SABIC, is a Saudi chemical manufacturing company. 70% of SABIC's shares are owned by Saudi Aramco. It is active in petrochemicals, chemicals, industrial polymers and fertilizers. It is the second largest public company in the Middle East and Saudi Arabia as listed in Tadawul.
ExxonMobil's Baytown Refinery is a major oil refinery named after and located in Baytown, Texas. It has capacity of 588,000 barrels per day (93,500 m3/d). The site first opened in 1919 and was originally operated by the Humble Oil Company. Today, it is the largest employer in the city. The plant has been expanded over the year to 3,400 acres (14 km2) of land next to the Houston Ship Channel.
MOL Plc., also known as MOL Group, is a Hungarian multinational oil and gas company headquartered in Budapest, Hungary. Members of MOL Group include among others the Croatian and Slovak formerly state-owned oil and gas companies, INA and Slovnaft. MOL is Hungary's most profitable enterprise, with net profits of $770 million in 2019. The company is also the third most valuable company in Central and Eastern Europe and placed 402 on the Fortune Global 500 list of the world's largest companies in 2013.
The National Petrochemical Company (NPC), a subsidiary to the Iranian Petroleum Ministry, is owned by the government of the Islamic Republic of Iran. It is responsible for the development and operation of the country's petrochemical sector. Founded in 1964, NPC began its activities by operating a small fertilizer plant in Shiraz.
The Ministry of Petroleum (MOP) (Persian: وزارت نفت, romanized: Vezârat-e Naft) manages the oil industry, the producer of oil and petrochemical products. MoP is in charge of all issues pertaining to exploration, extraction, exploitation, distribution and exportation of crude oil and oil products. In addition, according to the "Imports and Exports Regulation Act[usurped]", issuing import licenses for such products is also among the functions of the Ministry of Petroleum. The ministry has been placed under sanctions by the United States Department of State as of 2020.
The Oil and Natural Gas Corporation Limited (ONGC) is an Indian central public sector undertaking which is the largest government-owned oil and gas explorer and producer in the country. It accounts for around 70 percent of India's domestic production of crude oil and around 84 percent of natural gas. Headquartered in Delhi, ONGC is under the ownership of the Government of India and administration of Ministry of Petroleum and Natural Gas. It was founded on 14 August 1956 by the Government of India. In November 2010, the Government of India conferred the Maharatna status to ONGC.
The fossil fuels lobby includes paid representatives of corporations involved in the fossil fuel industry, as well as related industries like chemicals, plastics, aviation and other transportation. Because of their wealth and the importance of energy, transport and chemical industries to local, national and international economies, these lobbies have the capacity and money to attempt to have outsized influence on governmental policy. In particular, the lobbies have been known to obstruct policy related to environmental protection, environmental health and climate action.
Orgalim represents Europe’s technology industries, consisting of 770,000 companies that innovate at the crossroads of digital and physical technology. Our industries develop and manufacture the products, systems and services that enable a prosperous and sustainable future.
Energy in Kazakhstan describes energy and electricity production, consumption and import in Kazakhstan and the politics of Kazakhstan related to energy.
Sensear is an Australian company located in Perth, Western Australia which manufactures and distributes hearing protection and communication equipment globally. Their products are designed to protect hearing while facilitating normal communication.
Iran is an energy superpower and the petroleum industry in Iran plays an important part in it. In 2004, Iran produced 5.1 percent of the world's total crude oil, which generated revenues of US$25 billion to US$30 billion and was the country's primary source of foreign currency. At 2006 levels of production, oil proceeds represented about 18.7% of gross domestic product (GDP). However, the importance of the hydrocarbon sector to Iran's economy has been far greater. The oil and gas industry has been the engine of economic growth, directly affecting public development projects, the government's annual budget, and most foreign exchange sources.
Energy in Serbia is dominated by fossil fuels, despite the public preference for renewable energy.
SOHAR Port and Freezone is a deep-sea port and adjacent free zone in the Middle East, located in Sohar, Sultanate of Oman, midway between Dubai and Muscat. With current investments exceeding $26 billion, it is one of the world's fastest growing port and free zone developments and lies at the centre of global trade routes between Europe and Asia.
Indian Oil Corporation Limited, trading as IndianOil, is an Indian multinational oil and gas company under the ownership of Government of India and administrative control of the Ministry of Petroleum and Natural Gas. It is a public sector undertaking which is registered in Mumbai but headquartered in New Delhi. It is the largest government-owned oil producer in the country both in terms of capacity and revenue. It has consolidated refining capacity of 80.55MMTPA.
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