Petrochemical and chemical industry

The petrochemical and chemical industry is an industry that produces organic intermediates such as refining products, natural gas, plastic, rubber, fibres, and raw materials. This sector is a globally competitive, capital-intensive industry and includes significant technological innovations. In terms of production volumes, it represents about 10% of the total oil industry. However, based on product value, the petrochemical and chemical industry represents a larger share of the total industry due to the higher value of these products compared with fuels.