Aramco, Honeywell, and KAUST sign joint development agreement to develop technology to advance crude-to-chemicals capabilities

Summary

Aramco, Honeywell, and KAUST have signed a Joint Development Agreement (JDA) to co-develop a next-generation direct Crude-to-Chemicals (CTC) technology. The collaboration aims to develop and scale up the full CTC process, reducing capital and operating costs. The new CTC pathway is designed to convert crude oil directly into light olefins and other high-demand chemicals. Why it matters: This partnership signifies a major push for Saudi Arabia to lead in downstream innovation, aligning with Vision 2030 to diversify the economy and strengthen its position in the petrochemicals industry.