SABIC and ExxonMobil formed a joint venture.

SABIC, chemicals and steel manufacturer, and ExxonMobil, an international petroleum and petrochemical company, formed a joint venture. Financial terms were not disclosed. “The new joint venture expands our long relationship with SABIC and builds on the success of several other joint projects. The project will create value not only for both of our companies, but for the surrounding communities through the creation of jobs and economic growth. We appreciate the support we’re receiving, and look forward to continuing our conversations with San Patricio County residents and businesses as we progress,”John Verity, ExxonMobil Chemical Company President.