GPIC beats Q4 export targets
Manama : The Gulf Petrochemical Industries Company (GPIC) said it exceeded its export targets for the fourth quarter of 2017 by selling abroad 1.2 million tonnes of Ammonia, Urea and Methanol.
This, according to GPIC, is an increase of 1 per cent than what had been planned for 2017, which also represented a 1.6pc increase over exports in 2016 when it was 1.18 million tonnes.
Taiwan accounted for the largest share (17pc, or 204,370 metric tonnes) of the company’s total exports. Taiwan was followed by India (14pc) and the United States (12pc).
73,495 metric tonnes of Ammonia, 454,200 metric tonnes of Methanol and 676,791 tonnes of Urea were sold during the period. This was shipped to the final destination on 71 vessels.
In addition, 959 metric tonnes of Urea packed in bags were allocated to the local market to support Bahrain’s agricultural sector.
During the quarter, Dr Jawahery said, GPIC faced several challenging situations, the most important being the continued instability in the supply and demand balance as well as the intense competition.
These challenges, he said, were faced, thanks to the ambitious approach of the company’s Board of Directors and commitment of its staff.
Dr Jawahery stressed that the company was able to fulfil all its commitments, contracts and obligations in the last quarter of 2017. GPIC also achieved 7,639 working days, or 27 million hours, without any lost time accident.
He said GPIC, during the quarter, continued to implement plans for the development of Bahraini human resources by providing specialized training courses at home and abroad, as well as workshops on all aspects of the petrochemical industry.
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