Thursday, February 27, 2020

Petrochemical Industry of Saudi Arabia Dissertation

Petrochemical Industry of Saudi Arabia - Dissertation Example The petrochemical industry is regarded as one of the most important of all sectors in the economy of Saudi Arabia owing to the volume and proportion of revenue that it contributes to the national income of the nation. The records of the year 2005 state that Saudi Arabia consists of almost 250 petrochemical firms of diverse sizes which invest a gross yearly amount of US$ 29 billion in the industry. In addition, the nation is accountable for exporting petrochemical products worth US$ 3.2 billion. The nation is also home to the Saudi Arabian Basic Industries Corporation (SABIC), which is the world’s 11th largest producer of petroleum and also one of the world’s fastest growing companies (Shoult, 2006). At present, Saudi Arabia is the largest producer of oil in the world accounting for producing 10.5 million barrels per day annually, which serves the needs of one-tenth of the global population. The nation’s potential capacity is believed to be 262 billion barrels per day (Falola & Genova, 2005). The objectives of the present research paper could be stated as follows – †¢ Factors which enhance investment in a sector, i.e., what are the aspects that investors generally examine prior to making investments in a particular sector? †¢ Importance of investment behind the economic development of a nation. †¢ Petrochemical industry, being one of the pillaring sectors, deserves much of the government’s attention. This necessitates the purpose of the paper and the conclusion to be reached hence. Research aims will be – Figure out the extent to which petrochemical industry will be affected by market fluctuations Reach a conclusion regarding the appropriate step to be adopted by potential investors. Forecast the possible trend that the Saudi Arabian petrochemical industry is likely to adopt over the span of another quarter. This forecast could help the national

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