The global demands for petrochemicals have improved to a greater extend, after the financial recession, but it has still a long way to go, to reach the desired level. Leaders in oil industry, like Mohamed Al-Mady, CEO of Saudi Basic Industries Corp, say that most of the petrochemical companies are planning to boost their production to a considerable extent by expanding the foreign ventures and domestic oil plants, with the improvement of global economy. Many of the oil and natural gas companies have reported an increase in profit, by the third quarter of 2009. The tax profit for oil and natural gas showed a decrease in the first few months, but gradually increased. The key factors behind the growth of these oil and gas companies are the product prices and the effective utilization of the overall capacity. Despite of the uncertain economic environment, which prevailed during the financial recession, a few oil companies managed to survive and expand their production and operational activities. The production capacities of many companies have increased considerably, and researches are still going on to bring out a variety of petrochemical products by the first quarter of 2010. Many companies are also focusing on options for joined oil and gas research and investment ventures. The companies also find it beneficial to have the support of a local producer, to sail smoothly in oil and gas market. Most of the companies plan for solutions that can give long-term sustainable volumetric growth, as it is the only option to revive the world economy from the aftermaths of global financial recession. Saudi Kayan Petrochemicals, a leading have requested the contractors to modify their bids for the manufacture of a low density polyethylene plant (LDPE) in Jubail. Many plans like these have been under consideration, as companies focus on the long-term plans can give better solutions to oil and gas related issues. You can check latest news about oil, to know more about the methods and plans adopted by oil companies.