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BRAZIL TOP MARKET

GPIC achieved 5,364 working days or 24.9 million hours
without a lost time accident.

GPIC exports surge 11pc despite global challenges

MANAMA, January 3, 2017

Bahrain-based Gulf Petrochemical Industries Company (GPIC) exported 1.23 million tonnes during 2016, as against 1.01 million tonnes exported in the previous year, marking an increase of 11 per cent despite the challenges of global markets.

Company president Dr Abdulrahman Jawahery said explained that market fluctuations; challenges of Chinese exports and the instability of balance of supply and demand were not able to affect GPIC’s performance.

The company, which is an equal stakes joint venture of Bahrain’s nogaholding, Saudi Basic Industries Corporation (Sabic) and the Petrochemical Industries Company (PIC) of Kuwait, uses locally available natural gas to produce ammonia, urea and methanol.

The company also exported 348,472 tonnes of urea to the emerging Brazilian market, which is the largest amount to be exported since the start of production.

“This was a significant achievement since this requires a lot of effort and work due to the intense competition to grab a share,” said Dr Jawahery.

Brazil also accounted for the largest share of the company's total exports at 49 per cent, followed by the US a share of 19 per cent and Taiwan which had a share of 15 per cent. GPIC made use of 65 vessels to export its products.

Dr Jawahery revealed the last quarter of the year achieved a record production of 206,000 tonnes of urea, of which 179,000 tonnes was exported, exceeding the 170,000 tonnes exported in 2015 by 5 per cent.

The company produced 117,000 tonnes of ammonia during the last quarter of the year, of which 17,900 tonnes was exported, exceeding the 2015 figure of 12,354 thousand tonnes. Another milestone represented the production of 113,000 tonnes of methanol during the same period.

Throughout the year, the company exported 712,179 tons of urea, 443,729 tons of methanol and 78,218 tonnes of Ammonia.

Dr Jawahery said in spite of all the challenges faced by the company during the last quarter of this year due to oversupply of urea and the emerging Chinese market, there was no obstacle to the company in continuing its operations and exports to alternative markets.

GPIC was able to achieve approximately 5,364 working days without a lost time accident, which is equivalent to more than 24.9 million hours. He said this is a significant challenge not only in numbers but also in keeping the workers, who are the backbone of sustainable development, safe.

He said GPIC also showed great interest in the growth and development of Bahraini human resources, who were provided special training courses at home and abroad and through workshops on all aspects of the petrochemical industry.

He said employees were involved in the forums and gatherings organised by other relevant agencies. He said GPIC also organises comprehensive training programmes for Bahraini nationals and co-ordinates regularly with other companies to identify training needs and find the best ways to achieve them, with a focus on the quality of training. – TradeArabia News Service




Tags: Bahrain | Exports | GPIC | Gulf Petrochemical Industries Company |

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