Dr Sultan Ahmed Al Jaber described ADNOC’s expanded approach to strategic investment and partnerships as a key pillar of its transformation
Low volatility ensures stable production leading to higher yield
Jahn’s selection comes after a broad, inclusive executive search led by Korn Ferry
Highly recognised as a tool to drive continuous improvements in organisations and enhance the competitiveness of the business sector across the UAE, the Gold category of the 2019 Sheikh Khalifa Excellence Awards was granted to Borouge in recognition of its dedication to excellence and outstanding performance
Dr Abdulwahab Al-Sadoun explains how the authorised economic operators (AEO) programme is helping to improve...
Digital transformation is no longer simply a future option for oil and gas companies. It...
President and CEO,Saudi Aramco
Amin H Nasser – president and CEO of Saudi Aramco – retains his place at the head of this year’s ‘Power 50’ listing. Saudi Armco – the largest provider of crude oil to the global markets – is the world’s leading integrated energy and chemicals enterprise. Nasser is also a member of the company’s board of directors.While there are many strategic plans announced during the year by Saudi Aramco under the vibrant governance of Nasser, the most significant one is the company confirming that it is engaged in discussions with Public Investment Fund of Saudi Arabia regarding acquiring a strategic interest in SABIC.In another significant development, a framework agreement was signed in June 2018 between ADNOC, Saudi Aramco and a consortium of three Indian NOCs, to explore a strategic partnership and co-investment in the development of a new $44bn mega refinery and petrochemicals complex at Ratnagiri, on India’s west coast.The agreement defines the principles of the joint strategic cooperation between Saudi Aramco and ADNOC to jointly build, own and operate the complex in collaboration with the Indian consortium. Saudi Aramco and ADNOC will jointly own 50% of the new joint venture company – Ratnagiri Refining and Petrochemical Company – with the remaining 50% owned by the Indian consortium.The strategic partnership between ADNOC and Saudi Aramco marks a significant step in the regional energy partnership and cooperation, bringing together two of the world’s leading NOCs as strategic partners with the Indian consortium. It will also combine their considerable expertise spanning crude supply, resources and technologies, along with an established commercial presence and global reach. A pre-feasibility study to determine the project’s overall configuration will now be jointly executed by the parties.Nasser has served in a number of leadership positions during his Saudi Aramco career that spans more than three decades, including as senior vice president for upstream, when he led Saudi Aramco’s largest capital investment programme in its integrated oil and gas portfolio.Nasser is spearheading the company’s endeavour to produce cleaner energy and products through investments in entrepreneurial start-ups, renewables, oil-to-chemicals processes, and carbon capture utilisation and storage technologies.Nasser is also leading the ‘In-Kingdom Total Value Add’ (IKTVA) initiative, which intend to raise the level of local content of its suppliers in Saudi Arabia to 70% by 2021. In addition to his corporate responsibilities, Nasser is a member of the international advisory board of the King Fahd University of Petroleum and Minerals (KFUPM); the board of directors of the Dhahran Techno Valley Company; the board of trustees of the King Abdullah University of Science & Technology; the World Economic Forum’s International Business Council; the MIT Presidential CEO Advisory Board; and the JP Morgan International Council.Nasser is also a long-time member of the Society of Petroleum Engineers (SPE), and has served on SPE’s Industry Advisory Council since 2008. He received the SPE’s Charles F Rand Memorial Gold Medal in 2015, awarded for distinguished achievement in mining administration, including metallurgy and petroleum.For the latest refining and petrochemical industry related videos, subscribe to our YouTube page.
Vice Chairman and CEO,SABIC
Yousef Al-Benyan, vice chairman and CEO, SABIC, occupies the second position in the 2018 ‘Power 50’ list. SABIC is the world’s third-largest diversified petrochemicals company. Headquartered in Riyadh, Saudi Arabia, the company has 34,000 employees worldwide.While Al-Benyan was at the helm of affairs in the making of many watershed agreements during the year, the most important one was SABIC, along with Saudi Aramco, recently announcing the selection of Yanbu as the site for the development of an integrated industrial complex to convert crude-oil-to-chemicals (COTC).The $20bn COTC complex is expected to process 400,000bpd of crude oil, which will produce approximately nine million tonnes of chemicals and base oils annually and is expected to start operations in 2025. The complex is expected to create an estimated 30,000 direct and indirect jobs. By 2030, the COTC complex is expected to have 1.5% impact on the kingdom’s GDP, with investments being shared equally by both companies.Al-Benyan joined SABIC in 1987, just eleven years after the company’s formation. His first role was as a business development specialist before joining corporate communications. Later, Al-Benyan relocated to Stamford, Connecticut, as operations manager. In 1994, he became commercial manager for SABIC in the US and Latin America, based in Houston, Texas.In 2002, Al-Benyan was promoted as general manager of SABIC Asia, headquartered in Singapore. He made significant contributions to SABIC’s growth in Asia, especially in China. Al-Benyan returned to Houston in the fall of 2005 as the general manager of SABIC Americas. In 2007, Al-Benyan took on the role of general manager at fibre intermediates, before being named in February 2008 to head corporate human resources.As chairman of the ‘1 SABIC’ global unification initiative, he reorganised the company’s business structure with a new, single, global organisation and operating model, moving from a responsive, transactional entity to a proactive, strategic global organisation.In 2013, Al-Benyan was named to head SABIC’s chemicals business, the company’s largest unit, to help SABIC achieve its goal of becoming the preferred global leader in chemicals by 2025. Prior to being named vice chairman and CEO, Al-Benyan also served as executive vice president, corporate finance, and CFO.Other positions he holds include chairman of GPCA, chairman of the boards at Yansab, SAFCO and HADEED, as well as chairman of the Petrochemical Manufacturers Committee.Al-Benyan is a member of the International Business Council of the World Economic Forum and Global Business Council of the Bloomberg Global Forum. He also sits on the board of directors of Boao Forum for Asia, International Council of Chemical Associations, Royal Commission for Jubail & Yanbu, and Saudi Ports Authority.Al-Benyan is a board member of the King Abdulaziz City for Science and Technology, the National Industrial Clusters Development Program, and an executive committee member of the Riyadh Economic Forum at the Riyadh Chamber of Commerce.Al-Benyan holds a bachelor’s degree in economics and a master’s degree in industrial management, in addition to several specialised executive management courses.For the latest refining and petrochemical industry related videos, subscribe to our YouTube page.
ADNOC made historic decisions in 2018, under the dynamic leadership of Dr Sultan Ahmed Al Jaber, group CEO, and the UAE minister of state. The most significant one was its plans to invest $45bn alongside partners, over the next five years, to become a leading global downstream player.The plans were unveiled at the ADNOC Downstream Investment Forum in Abu Dhabi in May 2018. The unprecedented investment programme will underpin a new downstream strategy to significantly expand ADNOC’s refining and petrochemical operations at Ruwais in the UAE and undertake highly targeted overseas investments to secure greater market access.Building on the existing strengths and competitive advantages of the Ruwais Industrial Complex, ADNOC will create the world’s largest and most advanced integrated refining and petrochemicals complex.Through a combined programme of strategic partnerships and investment, ADNOC will increase its range and volume of downstream products, secure better access to growth markets around the world and create a manufacturing ecosystem in Ruwais that will significantly stimulate in-country value creation, private sector growth and employment. The strategy is expected to add more than 15,000 jobs by 2025 and contribute an additional 1% to the GDP per year.Dr Al Jaber was appointed the director general of ADNOC on 15 February 2016, and was later named the CEO of the company. After his appointment, Dr Al Jaber, launched a plan to modernise ADNOC and make its operations more profitable.As CEO, Dr Al Jaber has overseen a revision of the company’s partnership approach, investment strategy and capital structure, and consolidated the various operating units under a single unified brand.With a production capacity of around three million barrels per day, the ADNOC Group is one of the world’s leading oil and gas companies. The group manages 95% of the UAE’s proven oil reserves and 92% of the country’s gas reserves.Dr Al Jaber was appointed as minister of state in March 2013 and was tasked with various strategic portfolios in economy, politics, development, media, energy, infrastructure and sustainability, in order to promote the UAE’s reputation regionally and globally.As well as his ministerial responsibilities, Dr Al Jaber supervises ADNOC’s performance development and efficiency enhancement strategies to consolidate the UAE’s place in the field of energy.Dr Al Jaber started his career at ADNOC and then moved to Mubadala Development Company. In 2006, he was assigned to establish the Abu Dhabi Future Energy Company – Masdar – where he served as its CEO. In 2009, he headed Masdar’s participation in the UAE’s successful bid to host the headquarters of the International Renewable Energy Agency in Abu Dhabi.Dr Al Jaber has expert knowledge of the economics of energy and a career that has cut across the entire value chain, including, oil, gas, and renewable energy. Dr Al Jaber holds a PhD in business and economics from the UK, as well as an MBA in project management and a BSc in petroleum and chemical engineering from the US.For the latest refining and petrochemical industry related videos, subscribe to our YouTube page.
CEO,Sadara Chemical Company
Dr Faisal M Al-Faqeer joined Sadara Chemical Company as chief executive officer in October 2017, bringing with him over 23 years of experience in the oil and gas industry, having previously led different functions within Aramco, including engineering consulting services, research and development, refining and gas operations. Dr Al-Faqeer also served as a board member of Sadara Chemical Company from January 2017 to September 2017, and came to the role of CEO with a deep understanding of the company and its operations.Prior to joining Sadara, Dr Al-Faqeer served as the acting general manager of Ras Tanura Refinery, a complex refinery with a capacity of 550 thousand barrels per day, making it the largest refinery in the Middle East. He also previously led the engineering and operations departments in the refinery, where he was responsible for the safe and reliable operation of the assets, meeting the production commitment and managing major refinery upgrades. Prior to joining Ras Tanura Refinery, Dr Al-Faqeer led Aramco Research and Development Center, where he was responsible for establishing different research satellite centres in North America and Europe.Dr Al-Faqeer holds a master’s degree and a PhD in materials science and engineering from Pennsylvania State University, and bachelor’s degree in chemical engineering from King Fahd University of Petroleum and Minerals.Sadara Chemical Company has begun full commercial operations at its new chemical complex in Jubail Industrial City II, Saudi Arabia – the world’s largest integrated complex of its kind ever built in a single phase, with 26 state-of-the-art manufacturing units, over three million tonnes of capacity per annum and an investment of $20bn.For the latest refining and petrochemical industry related videos, subscribe to our YouTube page.
CEO,Petrochemical Industries Company
Mohammad Al-Farhoud assumed the role of CEO of Petrochemical Industries Company (PIC) of Kuwait in May 2016. Al-Farhoud has been chairman of the board of PIC since March 2013, when he was also appointed managing director for finance and planning at Kuwait Petroleum Corporation (KPC), Kuwait’s national energy company. Prior to joining PIC, Al-Farhoud served in a number of roles at KPC since 1986. He holds a degree in economics and accounting from Kuwait University.PIC is the petrochemical arm of KPC. Over a span of 50 years, PIC has grown from a fertiliser major to a significant petrochemical company with international presence. PIC’s aim is to support Kuwait’s national objectives through value addition to local resources, both hydrocarbon and manpower.With the successful and profitable implementation of Kuwait’s petrochemical strategy, PIC has played an important role in diversifying Kuwait’s economy and maximising the value of hydrocarbon resources through its diversified portfolio of fertilisers, olefins, and aromatics. To meet this vision, PIC has partnered with several national and international companies to form joint ventures in order to diversify its product offerings, expand into global markets and increase local sector participation.KPC’s 2040 strategic direction for petrochemicals defines the ambition to grow in the ‘core’ and ‘downstream derivatives’ business inside and outside Kuwait. PIC has embedded this in their strategy plan to expand the company’s portfolio through greenfield projects and acquisition activities. The company is currently pursuing two greenfield projects in North America, which are in advanced stages. The company’s subsidiary MEGlobal is building a world-scale methyl ethylene glycol project in USGC, which is now in the EPC phase.For the latest refining and petrochemical industry related videos, subscribe to our YouTube page.
Since 2009, Dr Abdulwahab Al-Sadoun is secretary general of Gulf Petrochemicals and Chemicals Association (GPCA), following a career of two and a half decades in the GCC petrochemical and energy sectors. Currently, Dr Al-Sadoun covers GPCA’s operational and strategic functions, reporting to a board of 15 CEOs from leading GCC chemical companies. Amongst his achievements with the GPCA is his contribution to successfully defending the industry’s position on several trade remedy cases filed in Taiwan, Egypt and the EU, in addition to developing content and bilingual publications to share thought leadership and industry insights with regional peers. He has played a key role in expanding GPCA’s events portfolio by number of events, and number and quality of delegates.For the latest refining and petrochemical industry related videos, subscribe to our YouTube page.
As group CEO of ENOC, Saif Humaid Al Falasi spearheads the group’s business strategy and operational excellence, locally and internationally, in alignment with the vision and plans of the Government of Dubai. A veteran in the energy industry, Al Falasi’s wealth of experience and in-depth industry knowledge spans a wide range of specialties, including project management and petroleum asset evaluation operations. He joined ENOC in 2008 as group general manager. In 2011, he was appointed as executive director for EHSQ and Corporate Affairs Directorate, overseeing the functions of key divisions within the group. In 2014, Al Falasi was awarded the fellowship of the Energy Institute, UK. Before joining ENOC, he had worked with ADNOC for 25 years.For the latest refining and petrochemical industry related videos, subscribe to our YouTube page.
Director, Downstream Directorate,ADNOC
Under ADNOC’s 2030 Strategy, the company has placed significant focus on its downstream business with plans to double crude refining capacity and triple production of petrochemicals and higher value products to take full advantage of the fastest growing segment in the oil and gas industry. Abdulaziz Abdulla Alhajri’s experience at Borouge could prove crucial in making this strategy a reality. Alhajri spent almost a decade as CEO of Borouge, and a combined 25 years in senior management roles. Prior to joining Borouge, he had been assistant general manager at Gasco, another ADNOC affiliate. Under Alhajri’s leadership, ADNOC and Cepsa recently signed an MoU to evaluate a new world-scale linear alkyl benzene (LAB) complex in Ruwais, Abu Dhabi.For the latest refining and petrochemical industry related videos, subscribe to our YouTube page.
Prior to his present post, Mutlaq Al Morished was executive vice president of corporate finance at SABIC, vice president of Metals SBU, executive vice president of Shared Services, and president of SADAF and HADEED, consecutively. Al Morished was also chairman of the board of Yansab, SABIC Capital, Saudi Kayan, SABIC Captive Insurance and Alinma Investment Co. In addition, he is board member of Aluminium Bahrain and Gulf Petrochemicals and Chemicals Association. Al-Morished holds an MBA degree from Stanford University, an MSc degree in nuclear engineering from Princeton University, and a BSc degree in nuclear physics and mathematics from University of Denver. Tasnee is one of the largest Saudi Arabian diversified industrial companies with investments in a number of sectors.For the latest refining and petrochemical industry related videos, subscribe to our YouTube page.
Following his graduation, Al-Ohali joined SABIC in September 1981, and progressed within the company into various executive positions. He left SABIC in early 1996 to successfully launch medium-sized private industries in the film and plastic sector. Al-Ohali was part of the team that established Sipchem. He assumed the office of the president of the company in November 1999, upon its incorporation. Al-Ohali serves as the chairman of the board of directors at International Polymers Company. He also serves as a director at International Acetyl Company and International Methanol Company. Al-Ohali is currently the chief executive officer of Sipchem. He graduated with honours in June 1981 from King Fahad University of Petroleum and Minerals, Dhahran, Saudi Arabia, majoring in chemical engineering.For the latest refining and petrochemical industry related videos, subscribe to our YouTube page.