RPME Power 50 2017

RPME Power 50 2017

Welcome to the 2017 Refining & Petrochemicals Middle East 'Power 50' listing. The downstream industry in the Middle East is currently at the forefront of economic transformation, job creation and development, serving as a key enabler for the region’s economic growth. The recent downstream focus of major operators in the region like Saudi Aramco, ADNOC and ENOC is considered to be a trend-setter of the future of the industry. As many ‘transformational’ new, highly complex projects come on stream in 2017-2018, growth is set to continue at a faster pace for the region’s downstream sector. And this pace is set by the leaders who steer the refining and petrochemical facilities in the region. The technology and service providers also influence the momentum of growth in the sector because the Middle East is home to some of the world’s largest and most ambitious downstream projects, the development of which would not have been possible without the state-of-the-art technologies and quality services available in region. We have ranked this year’s list of Power 50 primarily based on the influence of the individual on the region’s industry. For this, we have considered their endeavours during 2016-2017. The amount of business each company has done in 2017 is also obviously a key factor, but this Power 50 is more than just a rich list for the downstream industry. We have acknowledged new projects, innovations, and approach to sustainability and corporate social responsibility in determining the entries as well as the ranking. As you can see from the following pages, there are a number of new entries to the list, while some individuals from the 2016 list have moved out. The rankings also have changed notably. Congratulations to all the individuals who have been portrayed in this year’s Power 50!
Yousef Al-Benyan

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.