SOURCE: Industrial Info Resources
August 23, 2016 07:30 ET
SUGAR LAND, TX--(Marketwired - Aug 23, 2016) - Researched by Industrial Info Resources (Sugar Land, Texas) -- Chevron Phillips Chemical (The Woodlands, Texas), a 50:50 joint venture between Chevron Corporation (NYSE:CVX) (San Ramon, California) and Phillips 66 (NYSE:PSX), is in a good position to take advantage of the remarkably low prices for ethane, as three of its largest projects under construction will use the chemical feedstock to create ethylene, a key ingredient for plastics. With plastics demand booming globally, the joint venture could be looking at further growth after these projects come online next year. Industrial Info is tracking $3.37 billion in growth projects at facilities operated fully or in part by Chevron Phillips.
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