Saudi state oil giant Aramco has signed a joint development agreement with U.S. conglomerate Honeywell and King Abdullah University of Science and Technology (KAUST) of Saudi Arabia to co-develop a novel direct Crude-to-Chemicals (CTC) technology. The collaboration will focus on developing and scaling up the full CTC, to significantly reduce both capital and operating costs associated with CTC conversion, the Saudi university said on Thursday, as the world’s top crude oil exporter is boosting downstream operations and collaborations…
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