MOSCOW (MRC) -- Aramco provided an update on how the company is keeping its people and communities safe from COVID-19, while continuing to supply the world the energy it needs, said Hydrocarbonprocessing.
In our response to COVID-19 we have prioritized the safety, health and wellbeing of our employees, as well as our communities, around the world. We have implemented measures to reduce the risk of infection and to mitigate the virus’s impact on our people and our business. The company and its employees have also supported community efforts to combat the spread of COVID-19.
Our inbuilt systems for managing global crises ensure all our sites remain operational. Our supply chains also remain uninterrupted, as we continue to work with our partners to ensure safe delivery of materials.
Aramco’s President and Chief Executive Officer, Amin H. Nasser, said: “The world has encountered unprecedented complexities as a result of COVID-19, which have required high levels of agility and adaptability.
“The safety and wellbeing of our people has always been Aramco’s top priority and we continue to put them first in every decision we make.
“I am proud of how Aramco has responded to the challenge with a strong, united and compassionate approach, which stems from our deep-rooted community values. COVID-19 has no doubt created physical barriers, but it has also brought many of us closer together.
“We stand by our promise to do all that we can in the fight against COVID-19, helping those around us and delivering the world’s energy throughout this pandemic.
Last August, Saudi Aramco entered into a non-binding initial agreement to buy 20% stake in Reliance Industries’ oil to chemicals divisions with an enterprise value of USD75 billion. The oil to chemicals division included RIL’s Jamnagar refining complex, petrochemicals and fuels marketing businesses.
Ethylene and propylene are feedstocks for producing polyethylene (PE) and polypropylene (PP).
According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 383,760 tonnes in the first two month of 2020, up by 14% year on year. High density polyethylene (HDPE) and linear low density polyethylene (LLDPE) shipments increased due to the increased capacity utilisation at ZapSibNeftekhim. At the same time, PP shipments to the Russian market were 192,760 tonnes in January-February 2020, down by 6% year on year. Homopolymer PP accounted for the main decrease in imports.
Saudi Aramco is an integrated oil and chemicals company, a global leader in hydrocarbon production, refining processes and distribution, as well as one of the largest global oil exporters. It manages proven reserves of crude oil and condensate estimated at 261.1bn barrels, and produces 9.54 million bbl daily. Headquartered in Dhahran, Saudi Arabia, the company employs over 61,000 staff in 77 countries.
MRC