Saudi Basic Industries Corporation (SABIC) was announced on 30 November as the global “Petrochemicals Company of the Year” by Platts, the most recognized and respected information company in the energy industry. The award was judged by the following criteria: Strategic excellence, Technological commitment, Industry leadership, Growth, Business performance and Risk management. The prestigious Global Energy Awards ceremony held in New York consisted of representatives from the world’s top energy companies.
Commenting on the award, HH Prince Saud bin Thunayan Al-Saud, SABIC Chairman said, “Being independently judged as the global Petrochemicals Company of the Year by the energy sector is a clear recognition of SABIC’s success and continued growth, confirming its place as a significant force in the world’s petrochemicals industry.
“Our success is largely due to long-term partnerships in the industry and we are indebted to stakeholders in this regard.
“I further believe this award endorses SABIC’s strategic vision, its ambition to succeed, and its commitment towards global leadership amongst the world’s leading petrochemical companies.
“Prince Thunayan extended his thanks and gratitude to the Custodian of the Two Holy Mosques, the Crown Prince and the Saudi Government for their support to SABIC which encourages further greater achievements. He appreciated all SABIC stakeholders, shareholders and employees' efforts in making the SABIC mission and visions a success and help realizing its leadership ambition.”
SABIC was judged alongside several other leading petrochemical companies before being declared as a finalist for the award in October 2006. The judges consisted of an impartial panel of international energy experts, including energy ministers, national regulators, past heads of major energy companies, and leading academics and legislators.
