Baku, Azerbaijan, Nov. 28
By Leman Zeynalova – Trend:
Uncertainty in global chemical products market, causing delays in approving projects, will lead to a drop in capital expenditures by the beginning of the 2020s, Roger Green, vice president for chemical consulting practice at the IHS Markit, a financial services company, said.
He made the remarks in Baku at the fourth international conference titled “Oil refining and petrochemistry of the Caspian Sea and Central Asia” Nov. 28.
Green noted that during the forecast period, along with ethylene and propylene, the vast majority of capital expenditures will account for ammonia production. Petrochemical industry will remain attractive for investors from both local and foreign companies, he added.
Trends in the energy sector affect regional competitiveness, profitability and, ultimately, investment-making decisions, he said.