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04 November 2018

The Gulf Petrochemical Industries Company (GPIC) has recorded a very high level of performance and continued adherence to sustainable development in its business activities during the third quarter of this year.

A number of successes were highlighted, including the highest production of 40 million tonnes of Ammonia, Urea and Methanol.

This was despite global challenges, including low oil prices that have affected both the chemical and fertilizer markets.

GPIC Board of Directors Chairman H.E. Dr. Ahmed Al Sharyan praised the Company and spoke of the efficiency of the Executive Management to follow up on the implementation of the board’s strategic plans.

He said the performance was exemplary in the summer months and during record temperatures, when everyone worked together to ensure there was no impact on the performance of the factories, especially their cooling systems.

The Chairman also praised the Company's continued ability and expertise to overcome all obstacles and meet contractual obligations. He said the well-being, health and safety of GPIC’s employees is a leadership imperative, and GPIC strives to show them that they are a number one priority.

H.E. Dr. Al Sharyan also spoke of fluctuations in world markets, which had affected the balance of supply and demand. He said the success happened despite challenges caused by supply outstripping demand.

He said the Company, however, continued production and export to alternative markets. He stressed this was indicative of GPIC’s marketing plans and strategies. There was ongoing coordination with the Petrochemical Industries Company of Kuwait, the authorized marketer for Ammonia and Urea and the Saudi Basic Industries Corporation (SABIC), the authorized marketer for Methanol.

In his comments, GPIC President Dr. Abdulrahman Jawahery spoke about achievements in other areas such as occupational safety, which had become a characteristic of the Company. He said the Company's ability to achieve 5,638 working days without any lost time for accidents, equivalent to more than 26.6 million hours, was not easy, but asserted this was the result of attention and careful follow-up to applying global standards.

GPIC President, Dr. Jawahery also praised the professionalism of employees who are dedicated and focused, have extremely high standards and the willingness to work in a ‘One-Team’ spirit.

He said ensuring the safety of employees, the core of sustainable development, was a major achievement. Our employees, he added, are the real reason for GPIC’s continuous success.

He said he is proud of the Company, its Management and all its employees who work with professionalism and have a wealth of experience to instill a culture of compliance and health and safety embedded among employees as well as those of the contracting companies.

Dr. Jawahery said GPIC regularly carries out specialist training on emergencies and crisis to all employees. As well as lectures on health and safety, with a view to raising awareness of potential threats and dangers and how to contain them.

The President said GPIC would continue to adhere to its vision and mission to produce high quality materials, maintain safety standards and work in a one-team spirit. This, he added, was essential for the Company to continue witnessing growth and success and playing an influential role in the field of corporate social responsiblity.

Dr. Jawahery said all of these achievements would not have been possible without the support of the Company's executive management and Board.

GPIC has had a total production of 1.2 million tonnes by the end of the third quarter. This includes 347,000 tonnes of Ammonia, 331,000 tonnes of Methanol and 525,000 tonnes of Urea.

It has also exported 920,000 metric tons of Ammonia, Urea and Methanol. Taiwan accounted for 16 per cent of the Company's total exports followed by the United States (15%).