Closures, disposals reshaping the global petrochemical sector

Global petrochemical sector is undergoing a significant transformation with closures and disposals, particularly in Europe, due to rising costs and increased capacity in China. Major companies like LyondellBasell, Dow, and ExxonMobil are shutting down or selling European assets. Shell is reviewing its chemical business, while others like TotalEnergies and Eni are closing plants.