IBN Zahr was founded in 1984 and is based in Al Jubail, Saudi Arabia. Ibn Zahr operates as a subsidiary of Saudi Basic Industries Corp. (SABIC). Was SABIC's first joint venture with European companies and is a Saudi-European Petrochemical venture where partners ownership is SABIC (70%), Neste Oy-Finland (10%), Cofuel-Italy (10%), and Arab Petroleum Investment Corporation (APICORP) (10%). It is at Al Jubail facility, is one of the world's largest producers of MTBE with an annual capacity of 1.6 million metric tons and 640,000 mtpa of polypropylene.

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