What does gpic mean?

Gpic means Gulf Petrochemical Industrial Company, and its full name is Gulf Petrochemical Industrial Company.

Petrochemical enterprises in the Gulf region predict that the output of petrochemical products of the six GCC countries (Saudi Arabia, United Arab Emirates, Kuwait, Qatar, Oman and Bahrain) will be stable at 654.38+75 million tons in 20021year, and the past growth momentum will be temporarily restrained. However, manufacturers in this region pay more attention to Africa, an emerging market, with a view to exploiting the African market by geographical advantages and trying to tap the market potential of this region.

Company advantages:

Gulf petrochemical producers have a competitive advantage over some other producers. This is because producers in the Gulf still use fixed-price natural gas as raw materials, while Asian competitors rely on naphtha. Naphtha is a by-product of petroleum, and its price will rise with the increase of crude oil price, while natural gas will not. The recent rise in international oil prices has brought pressure to chemical manufacturers in many regions, but the pressure on Gulf petrochemical manufacturers is less.

With the increase of crude oil price, the petrochemical industry in the Gulf region will be more prosperous. It is estimated that by the end of this year, the price of petrochemical products may be close to the level before the outbreak of COVID-19. The faster-than-expected global economic recovery has also boosted the petrochemical industry. Ashton said: "We have reason to be optimistic that the recovery of several key downstream industries, such as automobiles and electronics, will promote the prospects of the petrochemical industry."

Baidu Encyclopedia-Shanghai Gulf Petrochemical Co., Ltd.