GPIC exceeds export targets in first half

Manama : Gulf Petrochemical Industries Company (GPIC) President Dr. Abdulrahman Jawahery has congratulated the Chairman, the Board of Directors and the Executive Management on the company’s achievements in the first half of this year.

Dr. Jawahery said GPIC has achieved 26 million man hours, equivalent to 5,547 days, without a lost time accident, which once again confirms the company’s procedures in applying the principles of occupational safety.

He said such achievements reflect the Company’s keenness to ensure the safety of its employees, the development of its human resources and providing the highest levels of training programmes. The Board of Directors, he added, also continues to provide opportunities for all employees to gain experience in carrying out their challenging tasks.

He said GPIC is now reaping the fruits of the dedication of all its employees who have worked with dedication to make this happen.

Dr. Jawahery said this commitment has led to major improvements, which, in turn, have contributed to very good production rates and uninterrupted operations.

He said all export operations are on track according to the marketing plan and contractual obligations, with 613,000 tonnes of ammonia, urea and methanol already being produced, which is six per cent over what had been planned.

He said GPIC also produced 229 tonnes of Ammonia, an increase of two per cent over what had been planned, while, in Urea, it reached 357,000 tonnes, an increase of 5.7 per cent.

Dr. Jawahery singled out the efforts of GPIC’s partners, the Saudi Basic Industries Corporation, the authorized marketer of methanol and the Kuwait Petrochemical Industries Company, that markets Ammonia and Urea fertilizer.

He said GPIC is committed to ensure all plant operations continue without any stoppage and loss of production.

Dr. Jawahery added the United States and Taiwan had the lion’s share of the Company’s exports, which was about 15 per cent. This was followed by Australia and China (12 per cent), India (11 per cent) and Thailand (10 per cent). The remaining exports were distributed to other strategic markets.

Dr. Jawahery said all these achievements would not have been possible without the strategy of the Board of Directors under the chairmanship of Dr. Ahmed Al Sharayan, who spared no effort to support the executive management’s efforts to enhance returns on investments.

He said the results speak of the sound procedures followed and praised the important role of the qualified and trained manpower.

The achievement came in the face of several challenges, change in market conditions and keeping safety and environment at the helm.

He said the support of the Board of Directors, along with commitment of all employees, contributed to the success.

The President said ammonia, methanol and urea markets continue to be affected due to falling oil and gas prices since the beginning of the year and fluctuation in demand, a great challenge for manufacturers looking to maintain their market share and ensure exports.

Dr. Jawahery said in spite of all these issues, GPIC continued to win international acclaim and has received several awards, which have reaffirmed its excellence in the petrochemical industry while maintaining its commitment to social responsibility, the environment and sustainability.