GPIC posts record production in H1
Manama, July 8, 2014
Bahrain-based Gulf Petrochemical Industries Company (GPIC) has reported record production for the first half of the year.
The petrochemical company saw its total exports of ammonia, urea and methanol hit 557,000 tonnes for the first six months period, reported the Gulf Daily News, our sister publication.
The company said it saw an increase of two per cent in ammonia production amounting to 227,000 tonnes, an increase of 3.5 per cent in methanol production to 225,000 tonnes and an increase of 7 per cent in the production of urea to 360,000 tonnes, it added.
GPIC president Dr Abdulrahman Jawahery said production processes saw many significant improvements that contributed to the good production rates.
"Export operations are also going smoothly and completely unhindered according to the marketing plan and contractual obligations," he remarked.
Dr Jawahery said the achievements happened despite many challenges as a result of fluctuations in the global market, with regard to the balance of supply and demand on one hand, and intense competition in terms of the availability of materials intended for export to the producers on the other hand.
The board of directors of the company reviewed and approved the performance during a meeting.-TradeArabia News Service