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07 January 2018

The Gulf Petrochemical Industries Company (GPIC) was able to fulfil all its commitments, contracts and obligations in the last quarter of 2017, as a result of the vision of its Board of Directors and a professional team of workers, company President Dr. Abdulrahman Jawahery has said.

Dr. Jawahery said this was in spite of all the changes and developments in the fertiliser industry and the state of the regional and international markets.

He said during the last quarter, there were several challenges, 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.

He said the GPIC is keen not only on achieving success but always strives to excel in every way to maintain the confidence of its customers on the one hand and win awards on the other.

He said the company continues its march towards more achievements and build on the gains to ensure it remains a leading company and maintains its position regionally and globally.

Dr. Jawahery praised the GPIC's approach in the field of occupational safety, which it considers the mainstay of its operations and ensures its continued success, along with a commitment towards the protection of the environment.

Dr. Jawahery said he was very proud that the company had achieved 7,639 working days, or 27 million hours, without any lost time accident. This was in addition to maintaining the integrity of its employees as the core of its sustainable development.

Dr. Jawahery revealed that GPIC exported 1.2 million tonnes of Ammonia, Urea and Methanol, an increase of 1 per cent than what had been planned for 2017. He said this also represented a 1.6 per cent increase over exports in 2016 when it was 1.18 million tonnes.

He said 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.

The President said Taiwan accounted for the largest share (17 per cent, or 204,370 metric tonnes) of the company's total exports. This market, he said, represents a major strategic importance for all producers. Taiwan was followed by India (14 per cent) and the United States (12 per cent).

Dr. Jawahery pointed out that all challenges did not prove to be an obstacle, and the company continued the production and export process to alternative markets.

He stressed this indicated the professional marketing plans and flexible strategies set up by the Board of Directors. He also applauded the of the marketers – the Petrochemical Industries Corporation in Kuwait, which markets Ammonia and Urea – and the Saudi Basic Industries Company, which markets Methanol.

He said the GPIC also 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.

He said the company worked hard to provide comprehensive training programmes and worked to coordinate between the joint stock companies to identify training needs and finding the best ways to achieve them, with a focus on the quality of training.

Dr. Jawahery expressed his appreciation and thanked the company’s leadership for its continued support, which had enabled it to maintain its pace of growth and balance despite the challenges.

He thanked the Board of Directors and said all these achievements would not have been possible without their support. He also thanked the executive management and its keen interest in placing the interest of the company above all.