01. Amin H Nasser, President and CEO, Saudi Aramco
Amin H Nasser – president and chief executive officer of the Saudi Arabian Oil Company (Saudi Aramco) – ranks first in 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.
He 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, in his capacity as CEO, is preparing Saudi Aramco for its planned public listing in 2018 and 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. He is also leading the ‘In-Kingdom Total Value Add’ initiative (IKTVA), 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; 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 (IBC); 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.
02. Yousef Al-Benyan, Vice Chairman and CEO, SABIC
Yousef Al-Benyan, vice chairman and CEO, Saudi Basic Industries Corporation (SABIC), occupies the second position in the 2017 ‘Power 50’ list. Headquartered in Riyadh, Saudi Arabia, SABIC is the world’s fourth largest diversified petrochemicals company, and has 35,000 employees worldwide. Net profit of SABIC for Q3-2017 was $1.54bn as compared to $1.39bn in the same period last year, a jump of 10.71%.
In 1987, Al-Benyan joined the company in the role of a business development specialist. Later on, he joined the company’s corporate communications department, and then relocated to Stamford, Connecticut, US, as operations manager.
In 1994, Al-Benyan became commercial manager for SABIC in the US and Latin America, based in Houston, Texas, US. In 2002, he was promoted as general manager of SABIC Asia. During this tenure, he made significant contributions to SABIC’s growth in Asia.
He returned to Houston in the fall of 2005 as general manager of SABIC Americas. In 2007, he 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, Al-Benyan 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.
Al-Benyan was named in 2013 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. He also served as executive vice president, corporate finance and CFO, prior to being named vice chairman and CEO.
Other positions held by Al-Benyan include chairman of the Gulf Petrochemicals and Chemicals Association, chairman of the boards at Yanbu National Petrochemical Company, Saudi Arabian Fertiliser Company, and Saudi Iron and Steel Company.
03. Dr Sultan Ahmed Al Jaber, CEO, ADNOC Group
Making his debut to the ‘Power 50’, Dr Sultan Ahmed Al Jaber, CEO, ADNOC Group, is in the third position in this year’s list. On 15 February 2016, he was appointed the director general of Abu Dhabi National Oil Company (ADNOC), 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 recently he consolidated the various operating units under a single unified brand. Under his leadership, ADNOC is seriously expanding its downstream business.
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 (IRENA) in Abu Dhabi.
04. Dr Faisal Al-Faqeer, CEO, Sadara Chemical Company
Dr Faisal Al-Faqeer, the recently appointed CEO of Sadara, makes his first appearance in the ‘Power 50’ list with the fourth position. Sadara recently announced commercial operations of the full chemical complex in Jubail Industrial City II, Saudi Arabia.
Dr Al-Faqeer subsequently resigned from Sadara’s board of directors. Dr Al-Faqeer brings with him years of experience in the oil and gas industry, having led different functions within Saudi Aramco, including engineering consulting services, research and development, and refining. Most recently, he was nominated to the Sadara board of directors as a member in January 2017 and acted as the general manager for Saudi Aramco’s Ras Tanura Refinery, the largest refinery in the Middle East.
“I am excited by this opportunity to lead Sadara as the company enters into the full operations phase,” said Dr Al-Faqeer. “The Sadara family has built a solid foundation and gained impressive momentum during its commissioning and start-up phase, and I eagerly look forward to joining the team and leading the company forward to become a global player in the chemical industry,” added Dr Al-Faqeer.
Commenting on the change to Sadara’s management, Ahmad Al-Saadi, Sadara’s chairman of the board, said, “Sadara is beginning an exciting new chapter, and Dr Al-Faqeer was appointed to help guide the company through this new reality. He is an accomplished leader with strong business insights and a passion for what we are trying to accomplish in Sadara. We are lucky to have someone of his calibre to lead Sadara as the company continues to grow and evolve.”
Dr Al-Faqeer replaces Ziad Al-Labban who joined Sadara in October 2012 and was responsible for building the company, including its physical assets, organisation, processes and procedures, and then bringing those assets on stream.
05. Mohammad Al-Farhoud, Chairman and CEO, PIC
Retaining his position, Mohammad Al-Farhoud, chairman and CEO, Petrochemical Industries Company (PIC) of Kuwait, is in the fifth position in the 2017 ‘Power 50’. Al-Farhoud, chairman of PIC, assumed the role of CEO in May 2016, succeeding PIC former head Asaad Al-Saad.
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), PIC’s parent company and Kuwait’s national energy company, overseeing all upstream and downstream operations. 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. With PIC being one of the six founding members, Al-Farhoud will also represent the company on the board of directors of Gulf Petrochemicals and Chemicals Association (GPCA).
During November 2017, PIC has signed an agreement with Jacobs Engineering to carry out engineering and design work for a planned propylene and polypropylene plant it co-owns in Canada. A joint venture between PIC and Pembina Pipeline Corp of Canada – Canada Kuwait Petrochemical Corp – plans to develop the facility. Jacobs Engineering will carry out front-end engineering and design (FEED) for the propylene and polypropylene facility in Alberta, Canada. The scope of the work includes identifying a timeframe and costs for the project. Work on the project is expected to be completed in Q4-2018.
As per the announcement made by Pembina Pipeline Corp in May 2017, the preliminary capital cost estimated for the project is in the range of $3.8-$4.2bn. The unit is expected to use 22,000 barrels per day of propane produced in Alberta. Offering a diversified feedstock for the growth in the sector, Kuwait is expanding its petrochemicals footprint overseas.
Recently, PIC won the 2017 RoSPA Gold Award for health, safety and environment.
06. Dr Abdulwahab Al-Sadoun, Secretary General, GPCA
Climbing one position up this year, Dr Abdulwahab Al-Sadoun, secretary general, Gulf Petrochemicals and Chemicals Association (GPCA), occupies the sixth place in the 2017 ‘Power 50’. Dr Al-Sadoun is secretary general of GPCA since 2009, following a career of more than two and a half decades in the GCC region’s petrochemicals and energy sectors. In his current role, Dr Al-Sadoun covers the GPCA’s operational and strategic functions, reporting to a board comprised of 15 CEOs from the leading GCC chemical companies.
Amongst his achievements with the GPCA is his contribution to successfully defending the industry’s position on several trade remedies 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.
07. Saif Humaid Al Falasi, Group CEO, ENOC
The position of Saif Humaid Al Falasi, group CEO, Emirates National Oil Company (ENOC), is two places up in the 2017 ‘Power 50’ list compared to 2016. Al Falasi was appointed CEO of ENOC in March 2015. In January 2017, the board of Dragon Oil, a subsidiary of ENOC Group, appointed Al Falasi as its new CEO. During a tenure that exceeds three decades working in the industry, Al Falasi has generated and successfully executed several full field development plans for the largest oil fields in the UAE. Al Falasi joined ENOC Group in 2008 and has previously served as group general manager.
His expertise spans a wide range of specialties, including project management; petroleum asset evaluation, like reservoir development and management; development of enhanced oil recovery; drilling and completion technology; surface facilities; and production operation.
08. Abdulaziz Alhajri, Downstream Director, ADNOC
As the downstream director of Abu Dhabi National Oil Company (ADNOC), Abdulaziz Alhajri retains his rank in this year’s ‘Power 50’ list. 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 petrochemical and higher value products to take full advantage of the fastest growing segment in the oil and gas industry.
Alhajri’s experience at Borouge could prove crucial in making this strategy a reality. He spent almost a decade as CEO of Borouge, and a combined 25 years in senior management roles. Prior to joining Borouge, Alhajri was assistant general manager at Gasco, another ADNOC affiliate. Under his leadership, ADNOC and Cepsa recently signed an MoU to evaluate a new world-scale linear alkyl benzene complex in Ruwais, Abu Dhabi.
09. Mutlaq H Al-Morished, CEO, Tasnee
Improving his ranking in the ‘Power 50’ by one position, Mutlaq H Al-Morished, CEO, National Industrialisation Company (Tasnee), is the ninth in the 2017 list. Tasnee is one of the largest Saudi Arabian diversified industrial companies with investments in key sectors. Prior to his present post, Al-Morished was EVP of corporate finance at SABIC, VP of Metals SBU, EVP of Shared Services, and president of SADAF and HADEED, consecutively.
Al-Morished was also chairman of the board of Yansab, SABIC Capital, Saudi Kayan and SABIC Captive Insurance, as well as member of Gulf Bank in Bahrain and the Advisory Board for Economic Affairs of the Supreme Economic Council. In addition, he is board member of General Organisation of Saudi Arabian Airlines, Alinma Tokio Marine, Aluminium Bahrain and chairman of the board of Alinma Investment Co.
10. Ahmed Al-Ohali, CEO, Sipchem
Climbing one position up this year, Ahmed Al-Ohali occupies the 10th place in the 2017 ‘Power 50’ list. Following his graduation, Al-Ohali joined SABIC, National Methanol Company, 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 Saudi International Petrochemical Company (Sipchem). He became the president of the company in November 1999, upon its incorporation. He is currently the CEO of Sipchem and serves on the boards of Sipchem, and several other industrial and commercial companies and associations.
In June 1981, Al-Ohali graduated in chemical engineering, with honours, from the King Fahad University of Petroleum & Minerals.