Petrochemical woes in the pipeline

The European petrochemicals industry is coming under increasing strain from two distinct quarters. First, rich oil-producing Middle East countries and China are investing heavily to capture a bigger share of the world market for these basic chemical products.
Second, European regulations, however well-intentioned, are placing a further heavy burden on the continent's big petrochemicals groups. This is making it even harder for them to compete with the new capacity, which will soon be flowing out of the developing world.