BMI View: The Israeli petrochemicals industry is set for export-oriented growth in 2013, which should overcome the negative effects of government austerity measures on domestic consumption. However, this exposes it to increased risk and any further crisis in the eurozone could have a severe impact on the sector’s performance. At present, Israel’s petrochemicals industry is reliant on naphtha produced by local refinery capacity, but the advent of shale gas exploration could pave the way for ethane as an alternative feedstock. This would enable feedstock flexibility in ethylene production and improve competitiveness. Following the completion of an upgrade programme, operating income …
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