The head of the world's biggest petrochemicals company yesterday urged his Arabian Gulf-based rivals to spend more on technology to strengthen the industry.
"To sustain [our] level of growth, we need to bring in change.
"The only way is by adopting a technology-driven approach to remain competitive in an ever-changing market place," said Mohamed Al Mady, the chief executive of the Saudi Basic Industries Corporation (Sabic).
As the shale gas revolution was leading to falling production costs for the industry in the United States, Gulf producers should be aware of "the increasing competitiveness in the world of energy, which in turn is leading to more competitive feedstocks for the global petrochemical industry", added Mr Al Mady.
New extraction techniques have vastly increased the supply of natural gas in North America, and the same methods are likely to be employed elsewhere.
At the same time, gas is an increasingly scarce resource in the Gulf, where a growing industrial base and the spiralling consumption of electricity are eating up supplies.
"We don't see a shortage of gas, however future allocations of gas are becoming considerably more selective," said Moayyed Al Qurtas, the chief executive of Tasnee, a Saudi plastics manufacturer.
Mr Al Qurtas urged his government to drive forward plans to adopt renewable energy as an alternative to gas-based power generation.
"Instead of using the gas, they can use solar or wind, and we can use the hydrocarbon for petrochemical use."
The diversification into more complex and specialised products offered a way to maintain global competitiveness, said Wim Roels, the chief executive of Borouge, the UAE's biggest petrochemicials company.
"Our focus is on being a company delivering added value to our customers, independent of our resources basis," he said.
"We've built our basic production capacity for that. We're investing in an innovation centre, we've built the marketing capabilities, and long term we believe that is the core competitive position of the company."
fneuhof@thenational.ae
How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
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AL%20BOOM
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How England have scored their set-piece goals in Russia
Three Penalties
v Panama, Group Stage (Harry Kane)
v Panama, Group Stage (Kane)
v Colombia, Last 16 (Kane)
Four Corners
v Tunisia, Group Stage (Kane, via John Stones header, from Ashley Young corner)
v Tunisia, Group Stage (Kane, via Harry Maguire header, from Kieran Trippier corner)
v Panama, Group Stage (Stones, header, from Trippier corner)
v Sweden, Quarter-Final (Maguire, header, from Young corner)
One Free-Kick
v Panama, Group Stage (Stones, via Jordan Henderson, Kane header, and Raheem Sterling, from Tripper free-kick)
SPECS
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COMPANY%20PROFILE
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The specs
Engine: 1.5-litre turbo
Power: 181hp
Torque: 230Nm
Transmission: 6-speed automatic
Starting price: Dh79,000
On sale: Now
How the bonus system works
The two riders are among several riders in the UAE to receive the top payment of £10,000 under the Thank You Fund of £16 million (Dh80m), which was announced in conjunction with Deliveroo's £8 billion (Dh40bn) stock market listing earlier this year.
The £10,000 (Dh50,000) payment is made to those riders who have completed the highest number of orders in each market.
There are also riders who will receive payments of £1,000 (Dh5,000) and £500 (Dh2,500).
All riders who have worked with Deliveroo for at least one year and completed 2,000 orders will receive £200 (Dh1,000), the company said when it announced the scheme.
How being social media savvy can improve your well being
Next time when procastinating online remember that you can save thousands on paying for a personal trainer and a gym membership simply by watching YouTube videos and keeping up with the latest health tips and trends.
As social media apps are becoming more and more consumed by health experts and nutritionists who are using it to awareness and encourage patients to engage in physical activity.
Elizabeth Watson, a personal trainer from Stay Fit gym in Abu Dhabi suggests that “individuals can use social media as a means of keeping fit, there are a lot of great exercises you can do and train from experts at home just by watching videos on YouTube”.
Norlyn Torrena, a clinical nutritionist from Burjeel Hospital advises her clients to be more technologically active “most of my clients are so engaged with their phones that I advise them to download applications that offer health related services”.
Torrena said that “most people believe that dieting and keeping fit is boring”.
However, by using social media apps keeping fit means that people are “modern and are kept up to date with the latest heath tips and trends”.
“It can be a guide to a healthy lifestyle and exercise if used in the correct way, so I really encourage my clients to download health applications” said Mrs Torrena.
People can also connect with each other and exchange “tips and notes, it’s extremely healthy and fun”.