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annualreport 2009

2

In a difficult global economic environment which has impacted

the chemical industry worldwide, our Gulf region has continued to

transform the petrochemicals landscape and cement its position as the

global manufacturing hub for basic products.

Our association saw considerable growth in 2009 in terms of the

range of issues addressed on behalf of members, the number of

committees formed, and the attendance at our events. The Annual

Forum in December, for example, attracted over 1,100 delegates and

we were honoured by the presence of H.E. Ali Bin Ibrahim Al-Naimi,

Minister of Petroleum and Mineral Resources, Saudi Arabia.

We continue to place a high priority on implementing Responsible

Care across the Gulf region and are providing enhanced services to

members in this regard.

Our annual report for 2009 reflects on these developments and

the growing strength of our organisation and activities, which have

allowed us to enter 2010 in a robust financial position.

transformingfor growth

annual 3report 2009

GPCA mission 4

GPCA objectives 5

Year in review 6

Adopting Responsible Care 8

Chairman’s foreword 10

Secretary General’s report 12

Financial statements 19

Membership statistics 37

GPCA organisation 38

GPCA board of directors 40

Full members as of March 2010 42

Associate members as of March 2010 45

Members’ index by name of official representative 52

Members’ index by company 54

contents

annualreport 2009

4

To support the growth and sustainable development

of the petrochemical and chemical industries in the

Gulf in partnership with our members and other

stakeholders

ourmission

annual 5report 2009

•To provide a networking and knowledge sharing forum for

members and industry stakeholders

•To advocate common industry positions

•To promote industry best practice

•To champion the Responsible Care initiative among members

•To establish regional industry data and information resources

•To develop credible relationships with regional communities

and with global industry associations

ourobjectives

With the global economy shrinking in 2009 by 4.6%, a sharp

recession was the primary characteristic of global markets affecting

the chemical industry in all regions, including our member companies

in the Gulf. The overall impact on the chemical industry overall was

not drastic, however, with chemical companies experiencing some

improvement in early 2009, although consumers remained cautious

all year and margins did not show any signs of improvement until the

third quarter.

Despite the difficult global environment, the Middle Eastern capacity

expansion drive continued unabated. Industry production increased in

2009 by an average of 3.7% across the Middle East, including 6.3% in

Saudi Arabia 3.4% in Abu Dhabi, 3.2% in Kuwait and 7.4% in Qatar.

The lion’s share of the new capacity addition in the region was in the

ethylene value chain. During 2009, the Gulf region added more than

4 million tons of ethylene capacity. By 2012, nine new crackers and

downstream plants are due to come on stream in the region; five in

Saudi Arabia, one in Qatar and one in Abu Dhabi and the remaining

two in Iran. In Saudi Arabia, 7 million tons of ethylene capacity will

be added over the period, 2009–2014 accounting for 25% of global

ethylene capacity growth during the same period. Given that the

Gulf region has a history of being able to build and operate on-time

or inside ‘industry average’, the global ethylene share of the regional

producers is projected to reach 20% by 2014, a long way from the

5% share prevailing at the beginning of the previous decade. Overall,

the coming years will allow the share of the Gulf producers in global

chemicals production capacity to rise further, reaching an anticipated

16% in 2015, and 20% by 2020.

The Gulf industry’s product portfolio is predominately concentrated

in basic chemicals, with the ethylene value chain being the most

annualreport 2009

6

year inreview

developed. However, newer projects are starting to move up the

C3/C4 value chains into performance chemicals and specialty

products. Newer projects are cracking heavier feedstock: butane,

propane and naphtha to offset the constraint in natural gas supply.

Projects with allocations of heavier feedstock (e.g. Saudi Kayan in

Saudi Arabia and Chemaweyaat in Abu Dhabi) are able to move

further up the chemical value chain, capturing higher value from their

products and offsetting the higher feedstock costs to a degree.

Even during the current tough environment, where capital funding has

become more challenging, the ability of GCC producers to fund their

expansion projects has not been an issue. New Greenfield projects

(particularly in Saudi Arabia) have typically been funded via IPOs, for

the equity portion of the projects.

The solid financial position of the Gulf players enabled them to

continue their ‘globalised production’ drive during 2009 with further

investment outside the region serving to boost their regional supply

chain networks (e.g. Sabic, Saudi Aramco, PIC JVs in China) as well as

the acquisition of global players with technological edge such as the

purchase of Nova Chemicals by IPIC, Abu Dhabi.

The longer-term trend continues to be one of global petrochemical

supply migrating away from the traditional production centres in

Europe and North America towards lower cost regions (e.g. Middle

East) and areas of greatest demand (e.g. China and India).

Emerging markets, a key outlet for production from the Gulf region,

are the clear bright spot, led by China, which remains an important

destination for petrochemical and chemical exports and may

experience economic growth of up to 12% in the coming year. The

Gulf region is expected to supply up to 40% of incremental Asian

demand for polyolefins in the medium term.

A key relevant challenge in 2009 was the surge in remedy cases and

protectionist actions brought by countries such as China and India

and the EU to block imports and protect indigenous industries. While

the Gulf industry is concerned about the potential impact of these

investigations and provisional duties on the development and health

of both the regional and global industry, the Gulf industry remains

committed to free trade and anticipates respect for WTO rules by all

countries.

Despite a difficult global

environment the drive

to increase capacity in

the Middle East has

continued unabated.

annual 7report 2009

year in review

Responsible Care is the chemical industry’s comprehensive Health,

Safety, Security and Environmental (HSSE) performance improvement

initiative. It was originally conceived in 1984 by the Canadian

Chemical Producers Association and adopted in the United States by

the American Chemistry Council (ACC) in 1988.

The Gulf Petrochemicals and Chemicals Association (GPCA) adopted

Responsible Care in 2009, thereby bringing this important initiative to

the Gulf and Middle East region.

managing systems through Responsible CareThe idea of establishing a management system approach within

Responsible Care has evolved from several factors including:

• management systems are increasingly recognised as key

performance drivers by industry and government;

• businesses are already implementing management system models

for organising their internal activities and delivering improved

performance;

• the need for the chemical industry to demonstrate to stakeholders

through an independent third-party certification process that it is

meeting its Responsible Care obligations.

business value from Responsible Care GPCA believes member companies can gain business value from

implementing Responsible Care in the following ways:

•Compliance assurance

GPCA’s Responsible Care Program and the management system

will help member companies improve and sustain regulatory

compliance. In the Responsible Care Management System (RCMS)

there is a focus on maintaining current understanding of legal,

regulatory, and other requirements. Also, internal processes are

annualreport 2009

8

adoptingResponsible Careالـتـزامـنا نحـو االستدامة

established to monitor and measure compliance and to take

corrective actions on problems identified. Management is actively

involved in reviewing compliance status as part of the review

process. All together, these steps can provide a reliable means of

assuring ongoing compliance.

•Return on investment

A Responsible Care Management System (RCMS) can yield

many important business benefits. Implementation can focus on

improving performance in Health, Safety, Security and Environment

(HSSE) through lower emissions, less waste, fewer injuries, and

more secure facilities and operations.

RCMS can also lead to lower operating costs, through more efficient

and reliable use of labour, lower energy costs, less money spent on

handling waste and/or emissions, and less time spent by management

dealing with distractions of incidents or compliance problems. For

example, member companies may receive lower insurance premiums

and a better loan from the bank, because they implemented a HSSE

management system and were able to demonstrate the ‘above and

beyond’ commitment of Responsible Care. In the establishment of

goals, at the beginning of a RCMS design project, financial efficiency

and objectives/targets are given high priority.

Depending on the existing maturity of HSSE management at a

member company, initially planning and implementing a RCMS

can require a significant level of effort. However, a fully functional

RCMS should quickly repay, through its increased efficiency, the

initial effort within approximately one or two years, and often

more quickly when significant opportunities for improvements are

identified and put into place.

•Risk and liability reduction

Senior Management and Boards of Directors of publicly traded (and

many privately held) companies are responding to the requirements

emerging out of the Regulations and Acts such as management

assurances for accuracy in financial disclosures. An RCMS can be very

helpful in giving management confidence that processes, methods,

and practices are in place to assure compliance, and also to identify

and address HSSE risks and liabilities in a proactive and sustainable

manner.

The GPCA adopted

Responsible Care in

2009, bringing an

important initiative to

the Gulf region.

annual 9report 2009

adopting Responsible Care

annualreport 2009

10

The past year has been quite challenging for most companies in

many areas. However, for the association it was a time for growth

and expansion. In 2009, we increased the number and scope of our

committees, and organized three medium-sized conferences alongside

workshops on various topics. Our Annual Forum also grew in both

stature and size.

Our growth trajectory has advanced in various spheres, and our

revenues rose from AED 6.7 million in 2008 to AED 9.34 million in

2009. We now have six working committees looking at common

issues in the areas of: Human Resources, Plastics, Supply Chain,

Responsible Care, Advocacy, and Fertilisers, with the latter two being

new additions. GPCA conducted five workshops on several important

topics in 2009. We started events catering to the Fertiliser, Supply

Chain, and Safety, Health and Environment segments. We had over

a thousand delegates at our Fourth Annual Forum last December,

despite the challenging economic environment. We continued the

dissemination of information and news about our industry through

our directory, newsletter and website.

Today, our membership stands at 135 full and associate members, and

we intend to expand membership further by offering even more value

added services.

We progressed the important Responsible Care initiative for the

association, with the board endorsing the programme after a detailed

study. Responsible Care is an initiative of ICCA – the International

Council of Chemical Associations. We believe our region has much to

gain from pursuing this initiative.

Looking into the future, we would like to expand our portfolio of

events to better serve the different segments of the petrochemicals

foreword from theChairman

Mohamed H. Al-MadyGPCA Chairman

annual 11report 2009

foreword from the Chairman

and chemicals industry. We will be holding the First GPCA Plastics

Summit in June 2010, and the second Supply Chain Forum in October.

We will also be hosting the annual meeting of the Responsible Care

Leadership Group in September 2010, inviting representatives from

over 50 countries. Our events this year will culminate in December

with the flagship Annual Forum. Meanwhile, our committees will

continue to address important issues facing our industry through

dialogue and workshops. In a new development, we have asked our

board members to head various committees to help ensure high level

involvement and direction. Given the expanding role of the association

and the wish to serve our members even further, we will be moving to

larger premises and engaging more resources later this year.

As we start emerging from the global economic downturn, I believe

GPCA will increasingly be seen as a catalyst for sharing best practice,

and collating and disseminating relevant industry data. With increasing

regional capacities coming on-stream, our association is also gearing

up to support our industry in meeting its aspirations.

To conclude, I would like to thank you for your ongoing support and

look forward to your continued participation in our work. Last but

not least, I would like to thank Mr. Abdullah Al-Hagbani for all his

efforts during his three-year tenure as Secretary General which came

to a close last April. In turn, I also wish his successor, Dr. Abdulwahab

Al-Sadoun and his team every success for our association and their

continuing dedication in 2010 and beyond.

Mohamed H. Al-Mady

GPCA Chairman

From strength

to strength on a

number of fronts

annualreport 2009

12

dear members I am pleased to report that our results in 2009 reflected your

commitment and support across the full range of our themes and

activities during the year. We have been able to initiate a number of

activities that have enhanced our contribution to the regional industry.

Our aim in 2009 was to graduate steadily from being primarily an

organisation conducting forums and workshops to a body addressing

key regional industry issues. With that in mind we have taken steps to

establish GPCA as the voice of the Gulf petrochemicals and chemicals

industry, raising the profile of the Association by engaging with

stakeholders and media, and by participating in key international

meetings.

highlights of 2009• Our Articles of Association were amended to enable the

expansion of the board from 8 to 15 members, through an election

during our last Annual General Assembly Meeting, making us even

more representative of the regional industry.

• A key strategic project undertaken by GPCA in 2009 was to support

the global initiative of ‘Responsible Care’. This presented

a key performance indicator for GPCA’s Safety, Health and

Environment Committee which engaged the services of a subject

expert as lead coordinator to implement the process across member

companies. Educational workshops and seminars on the process of

implementing Responsible Care are planned for 2010. GPCA will

also host the Responsible Care Leadership Group (RCLG) meeting in

Dubai next September. Following that meeting we envisage moving

report from theSecretary General

Dr. Abdulwahab Al-SadounSecretary General


report from the Secretary General

on a fast-track basis with the implementation of Responsible

Care to achieve our target of becoming a full member of the

International Council of Chemical Associations (ICCA) representing

the petrochemicals and chemicals industry.

• The Advocacy Committee was set up last year to represent

the regional industry’s interests on trade and public policy issues.

The committee took up the anti-dumping cases filed by certain

overseas countries against regional companies. An international legal

consultancy firm with expertise in this field has been retained to give

advice to the committee, while providing education on the subject

through workshops and seminars. GPCA has taken a strong stand

on this matter and we are committed to assuring that exports of

petrochemicals and chemicals from the Gulf region are not restricted

by anti-dumping or other trade restrictions.

• The Fertiliser industry contributes a large part of chemical output

in the region. In 2009, we formed the GPCA Fertiliser Committee, following deliberations at the First Fertiliser Seminar

in April 2009. The first meeting of this committee was held in

December 2009, resulting in ambitious plans for 2010 including: a

conference, workshops and a regional data base.

• A number of changes were brought forward by committees in

2009. Sharing information, introduction of best practices and

encouraging transparency were notable items to be promoted by

committee members. Platforms were provided to subject experts

within companies to share knowledge with members at workshops.

Educational programmes were executed on relevant subjects

by inviting subject experts from international associations and

organisations.

• The membership of each committee has been expanded to cater for

the wider scope of activities and to enable us to meet the needs of

the regional industry.

• The Safety Health and Environment Committee,

now renamed the ’Responsible Care Committee,’ executed many

activities in line with the board’s directive to address safety and

GPCA has taken

a strong stand on

trade issues and is

committed to assuring

that exports from

the region are not

restricted.

environmental issues. Seminars were conducted under the themes

of Fugitive Emissions, Mechanical Integrity – Management of

Change and Responsible Care. Committee members presented

their experiences of Environment, Health, and Safety standards,

sharing their expertise at the meetings. Articles about Responsible

Care were regularly published in GPCA’s quarterly newsletter GPCA

Insight. GPCA attended the Global Responsible Care Leadership

Group Meeting in Moscow in September 2009. The key focus in

2010 will be to address all Responsible Care related issues.

• The Human Resources Committee worked on the

theme of ‘Leadership’ and addressed issues concerning the topic

through its activities in 2009. The committee organised in Kuwait a

workshop entitled ‘Leading in Hard Times’. Learning activities were

conducted regularly at meetings and members visited company sites

to exchange good HR practices. The HR Committee also worked on

a ’Competency Cataloguing’ dictionary, which is available on our

website for members to learn about each company’s competencies.

The committee also conducted a breakout session on leadership

at the Annual GPCA Forum. Dr. Vijay Govindrajan of the Tuck

School of Business spoke at the session and participated in a panel

discussion with heads of regional businesses.

• The Plastics Committee concentrated its activities in 2009 on

improving the image of plastics in the region. An image survey was

conducted in the region by a specialist to understand people’s views

on plastics. The feedback was extremely informative and positive,

and the committee is working on key findings from the report. One

key finding was that citizens in the Gulf have a strongly favourable

attitude to the plastics industry as well as to plastics products and

any anti-plastics sentiment is mostly related to litter and waste

management. The committee therefore decided to focus on matters

relating to disposal in a responsible way and on reuse, recycling and

recovery of energy. The committee worked closely with retail chains in

UAE, Qatar and Saudi Arabia on the issue of plastic bags and waste

management. A few workshops on this issue were held with support

from Plastics Europe. A paper was presented on waste management

annualreport 2009

14report from the Secretary General

and benefits of plastics at the Annual GPCA Forum. The committee

is outlining a plan to work with key influencers and decision makers

on plastics in waste management overall. A large-format Plastic

Summit is planned for June 2010. Efforts are being made by the

committee to engage stakeholders across the region on how plastics

are contributing to sustainability and how there is a need to work

together on waste management. The Committee was represented at

the Global Plastics Meeting in Arlington, USA last October.

Going forward a decision was made that GPCA Board members will

chair all working committees. This is to facilitate fast-track decisions

and provide representation to the committees at the board level.

This year workshops were conducted for the GPCA Board members

on topics including the state of the industry, future trends, Carbon

Footprint Management, advocacy and Responsible Care.

• The First GPCA Supply Chain Forum took place in

Bahrain in October 2009 and was a great success. Over 150

delegates attended the event, which was preceded by an industry

workshop with the theme of Land Transportation in the Gulf

Region: Difficulties and Opportunities. The fact that Forum speakers

represented very senior management was certainly a highlight.

Many companies volunteered to support the supply chain industry

and share future trends and we intend to hold this event annually in

Bahrain. The committee also intends to promote initiatives such as

research and studies, data and information sharing, standardisation

of safety regulations related to product handling and transportation,

industry benchmarking studies and identification of the most

important areas for improvement.

• The Fourth Annual GPCA Forum held in Dubai in

December, attended by over 1,100 delegates, further consolidated

its position as the industry’s flagship event. H.E. Ali Bin Ibrahim

Al-Naimi, Minister of Petroleum and Mineral Resources, Kingdom

of Saudi Arabia, opened the event saying neither the recession

nor any recent protectionist measures by parties outside the Gulf

Cooperation Council area could fundamentally alter the advantages

enabling the region to be the world’s leading hub for petrochemicals

Citizens in the Gulf

have a strongly

favourable attitude

to Plastics. However

GPCA is working to

improve litter and

waste management

issues.



production and increasingly a hub for more sophisticated

downstream products. Strategically and economically, he said it is

in the best interest of regional producers to develop and expand

domestic markets in order to provide stability of demand, reduce

transportation costs, and mitigate the effects of trade barriers.

Other industry leaders addressing the Forum included Stephen

Pryor, President, Exxon Mobil Chemical, who spoke on

Strengthening Chemical Industry Growth Through Sustainability

and told delegates that the downturn had shaved three years off

petrochemicals growth, which would not reach 2007 levels again

until 2011; Klaus Engel, Chairman, Evonik Industries, pointed to

increasing opportunities for specialty chemical companies as the

Mideast continues to build on a strong feedstock position and

diversify through downstream investment and conversion. Greg

Garland, President and CEO, Chevron Phillips Chemical, explored

The Importance of Building a viable Mideast position to Pursue

Sustainable Growth; and Mark Garrett, CEO, Borealis, looked at

Building a Global Presence from the Mideast. Brad Bourland, Chief

Economist and Managing Director, Proprietary Investment, Jadwa

Investments, spoke on The Economic Crisis and Its Impact on the

annualreport 2009


Mideast Chemical Industry. Khalid Hamad, Executive Director of the

Central Bank of Bahrain reviewed Financing Opportunities and Risks

for Mideast Petrochemical and Energy Projects in a Global Crisis,

noting the economic downturn and global banking crisis have had a

negative impact on project financing.

The Forum featured two breakout sessions, one focusing on Human

Resources and the other on Sustainability. The highlight of the HR

session was an address by Dr. Vijay Govindarajan, author, and one

of the world’s leading experts on strategy and innovation, who

discussed Leadership in an Era of Constant Change.

The Sustainability session focused on initiatives taken by the industry

as part of its long-term growth strategy and included presentations

on Responsible Care – by ACC president, Cal Dooley – and on The

Role of Plastics in Driving Sustainability – by Laurence Jones, vice

president, corporate support, Borouge, who presented findings of a

consumer survey commissioned by GPCA on plastics and the need

for recycling and waste management measures in the region.

Attendance at the Forum grew 30% from the previous year and

nearly 40% were from outside the Gulf region.

relationshipsAs part of our continuing efforts to enhance relationships and

raise the profile of the association, GPCA representatives attended

international and regional meetings including the European

Petrochemical Association’s annual meeting in Germany and the Gulf

Industrialists Conference in Qatar, organised by the Gulf Organisation

for Industrial Consulting. GPCA had held dialogue with the China

Petroleum and Chemical Industry Association (CPCIA) and the

Methanol Institute (MI) to explore opportunities for cooperation. These

initiatives will be continued in 2010, with GPCA forging stronger

ties with our peers and our representatives attending key industry-

specific international meetings. GPCA has signed a Memorandum of

Understanding with the American Chemistry Council (ACC) to provide

support during the implementation of the Responsible Care initiative

in the Gulf Region.

Representatives

attended international

meetings to raise the

GPCA profile and

enhance relationships.



accounts

GPCA revenues grew significantly in 2009, rising by almost 51% to

AED 9.92 million from AED 6.58 million in 2008. As of 31 December

2009, the surplus income was AED 4.78 million, up almost 86%

on the previous year, with GPCA employed assets totaling AED

14.59 million. In line with our plans to reduce the dependency on

membership subscriptions, in 2009 GPCA achieved an increase of

almost 95% in income from conferences and other sources to AED

5.94 million in 2009.

outlookIn the year ahead we will focus our energies on promoting important

initiatives among our members, notably Responsible Care. We will

host a Responsible Care Leadership Group meeting in September

in Dubai, with representatives from over 50 countries. GPCA aims

to develop and install Responsible Care systems over the next

year with the aim of obtaining ICCA (International Council of

Chemical Associations) recognition by the end of 2010. In line with

our expansion of committee activities, the image of plastics and

downstream investment opportunities in the region will be pinpointed

via our First Plastics Summit to be held in June in Dubai. We will

highlight the positive results and action points from our study of

regional attitudes to plastics. We believe the GPCA Fertilisers meeting

scheduled for September 2010 in Dubai will serve to promote this

important sector. The second GPCA Supply Chain Conference will also

serve as a platform for discussing and identifying key infrastructure

and other requirements for getting our product to global markets

safely and effectively. We have extended our partnership with

Chemical Week, the co-organisers of the Annual Forum, and this

global group will also organise our Plastics and Supply Chain events.

As our team and status grow and evolve, we thank all our members

for your active participation in and dedication to the enhancement of

GPCA. We also look forward to an exciting 2010, taking on our new

initiatives in an improved world economy.

annualreport 2009



Report of the management

The Management presents their report and financial statements for

the year ended 31 December 2009.

Principal activities

The Association’s mission is to identify, promote and manage the

common interest of its members by promoting the role of the gulf

petrochemicals and chemicals industry and related businesses world-

wide. The Association shall not engage in any commercial activities to represent the commercial interest of the members.

Results

As at 31 December 2009 Gulf Petrochemicals and Chemicals

Association had total assets of AED 14,590,117 (2008: AED

9,905,394). The admission and annual fees for the year was AED

3,978,975 (for the year ended 31 December 2008: AED 3,435,023).

Auditors

The financial statements have been audited by Ernst & Young who

retire and, being eligible, offer themselves for reappointment.

The Board of ManagementP.O. Box 123055DubaiU.A.E.

28 February 2010

31 December 2009

financial statements

annualreport 2009

20report on the financial statements

Report on the financial statements

We have audited the accompanying financial statements of the Gulf

Petrochemicals and Chemicals Association (the ‘Association’), which

comprise the statement of financial position as at 31 December 2009

and the statements of comprehensive income and cash flows for the

year then ended, and a summary of significant accounting policies and

other explanatory notes.

Management’s responsibility for the financial statements

Management is responsible for the preparation and fair presentation

of these financial statements in accordance with International

Financial Reporting Standards. This responsibility includes: designing,

implementing and maintaining internal control relevant to the

preparation and fair representation of financial statements that are

free from material misstatement, whether due to fraud or error;

selecting and applying appropriate accounting policies; and making

accounting estimates that are reasonable in the circumstances.

Auditors’ responsibility

Our responsibility is to express an opinion on these financial

statements based on our audit. We conducted our audit in accordance

with International Standards on Auditing. Those standards require that

we comply with ethical requirements and plan and perform the audit

to obtain reasonable assurance whether the financial statements are

free from material misstatement.

Independent auditors’ report to the members of Gulf Petrochemicals and Chemicals Association


report on the financial statements

An audit involves performing procedures to obtain audit evidence

about the amounts and disclosures in the financial statements. The

procedures selected depend on the auditors’ judgement, including

the assessment of the risks of material misstatement of the financial

statements, whether due to fraud or error. In making those risk

assessments, the auditor considers internal control relevant to the

entity’s preparation and fair presentation of the financial statements

in order to design audit procedures that are appropriate for the

circumstances, but not for the purpose of expressing an opinion on

the effectiveness of the entity’s internal control. An audit also includes

evaluating the appropriateness of accounting policies used and the

reasonableness of accounting estimates made by management, as

well as evaluating the overall presentation of the financial statements.

We believe that the audit evidence we have obtained is sufficient and

appropriate to provide a basis for our audit opinion.

Opinion

In our opinion, the financial statements present fairly, in all material

respects, the financial position of the Association as of 31 December

2009, and its financial performance and its cash flows for the year

then ended in accordance with International Financial Reporting

Standards.

Ernst & Young

28 February 2010

Dubai

31 December 31 December 2009 2008 Notes AED AED

Membership fees 3,978,975 3,435,023

Conference and other income 3 5,941,845 3,048,408

Interest income – 97,132 __________ __________

Gross income 9,920,820 6,580,563

General and administrative expenses 4 (5,117,162) (3,997,261)

Loss on exchange (24,109) (11,571) __________ __________

Surplus for the year 4,779,549 2,571,731 __________ __________

There are no other components of comprehensive income during the years ended 31 December 2009 and 31 December 2008. Hence, the total income is equal to the surplus for the years then ended.

Statement of accumulated surplus

Accumulated surplus at beginning of the year 9,055,237 6,483,506

Surplus for the year 4,779,549 2,571,731 __________ __________

Balance at 31 December 13,834,786 9,055,237 __________ __________

annualreport 2009


Statement of comprehensive incomeYear ended 31 December 2009

2009 2008 Notes AED AED (Restated Note 15)ASSEtS EMPlOyEDNon-current assetsProperty and equipment 5 79,752 47,433 __________ __________

79,752 47,433 __________ __________Current assetsAccounts receivable and prepayments 6 2,149,818 3,033,308Islamic investment deposits 7 & 8 4,006,890 5,524,500Bank balances and cash 8,353,657 1,300,153 __________ __________

14,510,365 9,857,961 __________ __________

tOtAl ASSEtS EMPlOyED 14,590,117 9,905,394 __________ __________ASSOCIAtION RESERVE AND lIABIlItIESAssociation reserveAccumulated surplus 13,834,786 9,055,237 __________ __________

13,834,786 9,055,237 __________ __________Non-current liabilitiesEmployees’ end of service benefits 9 128,163 226,924 __________ __________

128,163 226,924 __________ __________Current liabilitiesAccounts payable and accruals 10 627,168 623,233 __________ __________

627,168 623,233 __________ __________

total liabilities 755,331 850,157 __________ __________

tOtAl ASSOCIAtION RESERVE AND lIABIlItIES 14,590,117 9,905,394 __________ __________

Secretary General28 February 2010



Statement of financial positionat 31 December 2009

31 December 31 December 2009 2008 Notes AED AED (Restated Note 15)

OPERAtING ACtIVItIESSurplus for the year 4,779,549 2,571,731Adjustments for: Depreciation 5 55,581 83,733 Provision for employees’ end of service benefits 9 102,865 208,493 __________ __________

4,937,995 2,863,957Working capital changes:Accounts receivable and prepayments 883,490 (973,358)Accounts payable and accruals 3,935 (176,496) __________ __________

Cash from operations 5,825,420 1,714,103Employees’ end of service benefits paid 9 (201,626) – __________ __________

Net cash from operating activities 5,623,794 1,714,103 __________ __________

INVEStING ACtIVItIESPurchase of property and equipment 5 (87,900) (4,549) __________ __________

Net cash used in investing activities (87,900) (4,549) __________ __________

INCREASE IN CASH AND CASH EQUIVAlENtS 5,535,894 1,709,554

Cash and cash equivalents at 1 January 6,824,653 5,115,099 __________ __________

CASH AND CASH EQUIVAlENtS At 31 DECEMBER 8 12,360,547 6,824,653 __________ __________

annualreport 2009


Statement of cash flowsYear ended 31 December 2009

1 Activities

Gulf Petrochemicals and Chemicals Association (the ‘Association’) is registered and incorporated in Dubai. The mission of the Association is to identify, promote and manage the role of gulf petrochemicals and chemicals industry and related businesses world-wide. The Association’s registered head office is at PO Box 123055, Dubai, United Arab Emirates.

2 Significant accounting policies

Basis of preparation and statement of compliance

The financial statements have been prepared in accordance with International Financial Reporting Standards and applicable requirements of UAE law.

The financial statements have been presented in United Arab Emirates Dirhams.

The financial statements are prepared under the historical cost convention.

Changes in accounting policy and disclosures

The accounting policies adopted are consistent with those of the previous financial year except as follows:

The Association has adopted the following new and amended IFRS and IFRIC interpretations as of 1 January 2009:

• IAS1PresentationofFinancialStatementseffective1January2009

• ImprovementstoIFRSs(May2008andApril2009)

The adoptions of these amendments resulted in changes to the accounting policies and additional disclosures but did not have any impact on the financial position or performance of the Association. The principal effects of these changes are as follows:

IAS 1 Presentation of Financial Statements

The standard introduces the statement of comprehensive income; it presents all items of recognised income and expense, either in one



Notes to the financial statementsat 31 December 2009

single statement, or in two linked statements, the Association has elected to present a single statement.

Improvements to IFRSs (May 2008 and April 2009)

In May 2008 and April 2009 the IASB issued omnibus of amendments to its standards, primarily with a view to removing inconsistencies and clarifying wording. There are separate transitional provisions for each standard. The adoption of the following amendments resulted in changes to accounting policies but did not have any impact on the financial position or performance of Association.

IAS 16 Property, Plant and Equipment

Replaces the term ‘net selling price’ with ‘fair value less costs to sell’. The Association amended its accounting policy accordingly, which did not result in any change in the financial position.

IAS 36 Impairment of Assets

When discounted cash flows are used to estimate ‘fair value less cost to sell’ additional disclosure is required about the discount rate, consistent with disclosures required when the discounted cash flows are used to estimate ‘value in use’. This amendment had no immediate impact on the financial statements of Association because the recoverable amount of its cash generating units is currently estimated using ‘value in use’.

Other new and amended IFRSs and IFRIC interpretations effective as on 1 January 2009 did not have any impact on the accounting policies, financial position or performance of Association.

IASB Standards and Interpretations issued but not yet effective

The Association has not adopted the new accounting standards or interpretations that have been issued but are not yet effective. These standards and interpretations, and some of the amendments to the standards following the 2009 improvement to IFRSs project, are not likely to have any significant impact on the financial statements of Association in the period of their initial application.

Use of estimates and judgments

The preparation of the financial statements requires management to make estimates and assumptions that may affect the reported amount of financial assets and liabilities, revenues, expenses, disclosure of contingent liabilities and the resultant provisions and fair values. Such estimates are necessarily based on assumptions about several factors and actual results may differ from reported amounts.

Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised and in any future periods affected.

annualreport 2009


In particular, information about significant areas of estimation, uncertainty, and critical judgements in applying accounting policies (that have the most significant effect on the amount recognised in the financial statements) are discussed in note 14.

Revenue recognition

Membership fee and subscriptions are taken to revenue over the period to which they relate.

Interest revenue is recognized as the interest accrues using the effective interest method.

Property and equipment

Property and equipment is stated at cost less accumulated depreciation and any impairment in value.

Depreciation is calculated on a straight line basis over the estimated useful lives of the assets as follows:

Leasehold improvements 3 yearsOffice equipment 3 yearsMotor vehicles 5 yearsFurniture and fixtures 3 years

The carrying values of property and equipment are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable. If any such indication exists and where the carrying values exceed the estimated recoverable amount, the assets are written down to their recoverable amount, being the higher of their fair value less costs to sell and their value in use.

Expenditure incurred to replace a component of an item of property and equipment that is accounted for separately is capitalised and the carrying amount of the component that is replaced is written off. Other subsequent expenditure is capitalised only when it increases future economic benefits of the related item of property and equipment. All other expenditure is recognised in the income and expense statement as the expense is incurred.

An item of property and equipment is derecognised upon disposal or when no future benefits are expected from its use or disposal. Any gain or loss arising on derecognition of the asset (calculated as the difference between the net disposal proceeds and carrying amount of the asset) is included in the statement of comprehensive income in the year the asset is derecognised.

The assets residual values, useful lives and methods of depreciation are reviewed at each financial year end, and adjusted prospectively if appropriate.



Impairment and uncollectibility of financial assets

The Association assesses at each reporting date whether there is any objective evidence that a financial asset or a group of financial assets is impaired. A financial asset or a group of financial assets is deemed to be impaired if, and only if, there is objective evidence of impairment as a result of one or more events that has occurred after the initial recognition of the asset (an incurred ‘loss event’) and that loss event has an impact on the estimated future cash flows of the financial asset or the group of financial assets that can be reliably estimated. Evidence of impairment may include indications that the debtors or a group of debtors is experiencing significant financial difficulty, default or delinquency in interest or principal payments, the probability that they will enter bankruptcy or other financial reorganisation and where observable data indicate that there is a measurable decrease in the estimated future cash flows, such as changes in arrears or economic conditions that correlate with defaults. If such evidence exists, any impairment loss is recognised in the statement of comprehensive income. Impairment is determined as follows:

a) For assets carried at fair value, impairment is the difference between cost and fair value, less any impairment loss previously recognised in the statement of comprehensive income;

b) For assets carried at cost, impairment is the difference between the carrying value and the present value of future cash flows discounted at the current market rate of return for a similar financial asset;

c) For assets carried at amortised cost, impairment is the difference between the carrying amount and the present value of future cash flows discounted at the original effective interest rate.

Impairment of non-financial assets

The Association assesses at each reporting date whether there is an indication that an asset may be impaired. If any indication exists, or when annual impairment testing for an asset is required, the Association estimates the asset’s recoverable amount. An asset’s recoverable amount is the higher of an asset’s or cash-generating unit’s (CGU) fair value less costs to sell and its value in use and is determined for an individual asset, unless the asset does not generate cash inflows that are largely independent of those from other assets or groups of assets. Where the carrying amount of an asset or CGU exceeds its recoverable amount, the asset is considered impaired and is written down to its recoverable amount. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset. In determining fair value less costs to sell, an appropriate valuation model is used. These calculations are corroborated by valuation multiples, quoted share prices for publicly traded entities or other available fair value indicators.

annualreport 2009


Impairment losses of continuing operations are recognised in the income and expense statement in those expense categories consistent with the function of the impaired asset.

An assessment is made at each reporting date as to whether there is any indication that previously recognised impairment losses may no longer exist or may have decreased. If such indication exists, the Association estimates the asset’s or cash-generating unit’s recoverable amount. A previously recognised impairment loss is reversed only if there has been a change in the assumptions used to determine the asset’s recoverable amount since the last impairment loss was recognised. The reversal is limited so that the carrying amount of the asset does not exceed its recoverable amount, nor exceed the carrying amount that would have been determined, net of depreciation, had no impairment loss been recognised for the asset in prior years. Such reversal is recognised in the statement of comprehensive income unless the asset is carried at a revalued amount, in which case the reversal is treated as a revaluation increase.

Accounts receivable

Accounts receivable are stated at original invoice amount less a provision for any uncollectible amounts. An estimate for doubtful debts is made when collection of the full amount is no longer probable. Bad debts are written off when there is no possibility of recovery.

Cash and cash equivalents

For the purpose of the statement of cash flows, cash and cash equivalents consist of cash in hand and bank balances and short term deposits with an original maturities of three months or less.

Accounts payable and accruals

Liabilities are recognised for amounts to be paid in the future for goods or services received, whether billed by the supplier or not.

Provisions

Provisions are recognised when the Association has an obligation (legal or constructive) arising from a past event, and the costs to settle the obligation are both probable and able to be reliably measured.

leases

Leases where the lessor retains substantially all the risks and benefits of ownership of the asset are classified as operating leases. Operating lease payments are recognised as an expense in the statement of comprehensive income on a straight-line basis over the lease term.

Employees’ end of service benefits

The Association provides end of service benefits to its employees in accordance with UAE labour law. The entitlement to these benefits is



based upon the employees’ final salary and length of service, subject to the completion of a minimum service period. The expected costs of these benefits are accrued over the period of employment.

Foreign currencies

Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the rate of exchange ruling at the statement of financial position date. All differences are taken to the statement of comprehensive income.

3 Conference and other income

2009 2008 AED AED

Conference income 3,378,007 2,311,413

Mini forum income 1,000,305 –

Publication income 248,286 341,320

Workshop income 367,508 322,175

Income from national bond 182,390 –

CEO round table income 144,519 73,500

Other income 620,830 – _________ _________

5,941,845 3,048,408 _________ _________

4 General and administrative expenses

2009 2008 AED AED

Staff costs 3,111,678 2,599,782

Communication expenses 338,096 230,356

Functions, conferences and business travel expenses 993,365 606,410

Professional fees and consultancy charges 356,023 293,160

Miscellaneous expenses 318,000 267,553 _________ _________

5,117,162 3,997,261 _________ _________

annualreport 2009


5 Property and equipment

Leasehold Office Furniture Motor improvements equipment and fixtures vehicles Total AED AED AED AED AEDCost: At January 2009 78,085 119,516 54,734 – 252,335 Additions – 23,900 – 64,000 87,900 _______ _______ _______ _______ _______

At 31 December 2009 78,085 143,416 54,734 64,000 340,235 _______ _______ _______ _______ _______

Accumulated depreciation At January 2009 65,070 93,794 46,038 – 204,902 Depreciation charge during the year 13,015 27,703 8,463 6,400 55,581 ________ ________ _______ _______ _______

At 31 December 2009 78,085 121,497 54,501 6,400 260,483 ________ ________ _______ _______ _______Net carrying amount: At 31 December 2009 – 21,919 233 57,600 79,752 ________ ________ _______ _______ _______

Leasehold Office Furniture improvements equipment and fixtures Total AED AED AED AEDCost: At January 2008 78,085 114,967 54,734 247,786 Additions – 4,549 – 4,549 ________ ________ ________ ________

At 31 December 2008 78,085 119,516 54,734 252,335 ________ ________ ________ ________

Accumulated depreciation At January 2008 39,042 54,334 27,793 121,169 Depreciation charge during the year 26,028 39,460 18,245 83,733 ________ ________ ________ ________

At 31 December 2008 65,070 93,794 46,038 204,902 ________ ________ ________ ________

Net carrying amount: At 31 December 2008 13,015 25,722 8,696 47,433 ________ ________ ________ ________



6 Accounts recievable and prepayments

2009 2008 AED AED

Conference and other fees receivable 1,465,738 2,768,994Receivables from members 573,807 136,201Prepaid rents 46,948 100,113Other receivables 63,325 28,000 _________ _________

2,149,818 3,033,308 _________ _________

Unimpaired receivables are expected on the basis of past experience, to be fully recoverable. It is not the practice of the Association to obtain collateral over receivables.

7 Islamic investment deposits

2009 2008 AED AED (Restated Note 15)

Mudaraba deposit 4,006,890 5,524,500 _________ _________

4,006,890 5,524,500 _________ _________

Islamic investment deposit represents the amount deposited with National Bonds PJSC. The amount is collectible on demand and earns profit on a time proportion basis for the period of holiday of such deposit as declared by the party concerned. For 2009, the Association earned a profit of 3.54% per annum.

8 Cash and cash equivalents

2009 2008 AED AED (Restated Note 15)Bank balance and cash 3,353,657 1,300,153Term deposits 5,000,000 – __________ _________

Bank balances and cash 8,353,657 1,300,153Islamic investment deposit 4,006,890 5,524,500 __________ _________

Cash and cash equivalents 12,360,547 6,824,653 __________ _________

Time deposits carry an effective interest rate of 3.05% pa to 3.25% pa.

annualreport 2009


9 End of service benefits

2009 2008 AED AED

Movements in the provision recognised in the statement of financial position are as follows:

Provision as at 1 January 226,924 18,431Provided during the year 102,865 208,493Payment during the year (201,626) - _________ ________

Provision as at 31 December 128,163 226,924 _________ ________

10 Accounts payable and accruals

2009 2008 AED AED

Advances from non-members 13,611 17,907Accrued expenses and other payables 613,557 605,326 _________ ________

627,168 623,233 ________ ________

11 Related party transactions

Compensation of key management personnel

The remuneration of directors and other members of key management during the year was as follows:

31 December 31 December 2009 2008 AED AED

Short-term benefits 2,197,173 1,573,311 _________ _________



12 Risk management

Interest rate risk

The Association is not exposed to any significant interest rate risk on its interest bearing assets and liabilities.

Credit risk

The Association seeks to limit its credit risk with respect to debtors by monitoring outstanding fees receivables as there is no established credit period for debtors. Credit risk is limited to the carrying value of financial assets in the statement of financial position.

liquidity risk

The Association limits its liquidity risk by ensuring bank facilities or funds are available. The Association’s terms for renewing the membership are specified in the agreement. Trade accounts payable are settled on the basis of credit terms agreed with the respective supplier.

The table below summarises the maturities of the Association’s undiscounted financial liabilities at 31 December 2009, based on contractual payment dates.

annualreport 2009


At 31 December 2009

Less than 3 to 12 1 to 5 3 months months years > 5 years Total AED AED AED AED AED

Accounts payables and accruals 351,413 275,755 – – 627,168 ________ ________ ________ ________ ________

At 31 December 2008 Less than 3 to 12 1 to 5 3 months months years > 5 years Total AED AED AED AED AED

Accounts payables and accruals 444,714 178,519 – – 623,233 ________ ________ ________ ________ ________

Currency risk

The Association is not exposed to significant currency risk.

Capital management

The primary objective of the Association’s fund management is to ensure that it maintains a healthy ratio in order to support its activities.

13 Fair values of financial instruments

Financial instruments comprise financial assets and financial liabilities.

Financial assets consist of cash and bank balances and receivables. Financial liabilities consist of payables and accruals.

The fair values of financial instruments are not materially different from their carrying values.

14 Key sources of estimation uncertainty

Impairment of accounts receivable

An estimate of the collectible amount of accounts receivable is made when collection of the full amount is no longer probable. For individually significant amounts, this estimation is performed on an individual basis. Amounts which are not individually significant, but which are past due, are assessed collectively and a provision applied according to the length of time past due.

At the statement of financial position date, gross accounts receivable were AED 2,039,545 (2008: AED 2,905,195) and the provision for doubtful debts was AED Nil (2008: AED Nil). Any difference between the amounts actually collected in future periods and the amounts expected will be recognised in the statement of comprehensive income.

Useful lives of property and equipment

The Association’s management determines the estimated useful lives of its property and equipment for calculating depreciation. This estimate is determined after considering the expected usage of the asset or physical wear and tear. Management reviews the residual value and useful lives annually and future depreciation charge would be adjusted where the management believes the useful lives differ from previous estimates.



annualreport 2009


15 Comparative information

Specified statement of financial position amount for the year ended 31 December 2008 have been reclassified to comply with International Financial Reporting Standards and to improve the quality of information presented. The summary below presents the effect of the reclassifications on the prior year amounts.

As at 31 December 2008

As previously reported Reclassification As restated AED AED AED

Available-for-sale investments 5,524,500 (5,524,500) –

Islamic investment deposits – 5,524,500 5,524,500 __________ __________ __________

5,524,500 – 5,524,500 __________ __________ __________

Statement of cash flow:

Year ended 31 December 2008

As previously reported Reclassification As restated AED AED AED

Investing activitiesPurchase of available-for-sale investments 5,524,500 (5,524,500) – __________ __________ __________

Net cash used in investing activities 5,524,500 (5,524,500) – __________ __________ __________

Cash and cash equivalents at 31 December 1,300,153 5,524,500 6,824,653 __________ __________ __________

1,300,153 5,524,500 6,824,653 __________ __________ __________


membershipstatistics

global membership

Africa 1 0.74%

Americas 7 5.18%

Europe 16 11.85%

Asia 12 8.88%

Gulf Region 99 73.33%

regional membership

Bahrain 5 5.05%

Kuwait 6 6.06%

Qatar 8 8.08%

Oman 3 3.03%

Saudi Arabia 38 38.38%

United Arab Emirates 39 39.39%

annualreport 2009

38

GPCAorganisation

GPCA organisation is made of the following

principal structures:

• the Annual General Assembly

• the Board of Directors

Annual General Assembly

The GPCA shall have a General Assembly

consisting of all the Official Representatives of

the Members to be convened at least once a year

during the four months following the end of

the financial year of GPCA by a notice and at a

location to be given by the Board of Directors (the

‘Annual General Assembly’).

The agenda of the Annual General Assembly shall

include the following matters:

• Elect and appoint the Board of Directors (when

appropriate)

• Determine the admission fees and annual

membership fees for Full Members and

Associate Members

• Approve and examine previous year’s accounts

and GPCA Annual Report

• Any other matters the Board of Directors

deems necessary.

Board of Directors

GPCA is managed by a Board of Directors

comprising at the most fifteen (15) physical

persons elected by the General Assembly

from amongst persons nominated by the Full

Members. The members of the Board shall be

a representative of Full members who shall be

the Chief Executive Officer or equivalent of such

member. The members of the Board of Directors

are elected for a period of three years. Their

mandate is renewable.

The Board of Directors shall comprise of at least

one Full Member from each country in the Gulf

Region. The Board meets at least three times

a year and is elected every three years by the

General Assembly.

The Board of Directors has central responsibility for

guiding GPCA activities and approving its policies,

priorities and programs. The Board is empowered

to define the criteria to obtain the Association’s

membership, defining rules for admission,

withdrawal and exclusion, as well as the activities

to which they will be invited to participate.

In particular, the Board of Directors is vested to

undertake the following roles:

• Develop the GPCA strategy & policy

• Select the venues of the yearly Annual Meeting,

set the program for the yearly Annual Meeting,

set the Annual Meeting fee

• Set the accounts, budget, membership fees

and submit same to the Ordinary General

Meeting

• Approve new application for GPCA

Membership

• Determine the uses and sources of funds and

submits the GPCA Board composition to the

Ordinary General Meeting.

The Board of Directors is empowered to make

any necessary or useful act of management and

of disposal to ensure optimal performance of the

Association.


GPCA organisation

General Assembly

Board of Directors

Secretary General

Executive Committee

Executive Secretary

Working Committees

Human Resources

Responsible Care

Supply Chain

Plastics

Advocacy

Fertilisers

Administration & Finance

Communication & Marketing

Committees & Global Affairs

Member Relations

Research & Studies

Convention Services

Secretary General

The Board of Directors appoints the Secretary

General. The Secretary General shall have charge

over the general management of the Association

and in particular the day to day administration.

The Secretary General shall represent the

Association and may be granted specific powers

as referred to in Article 8 of the GPCA’s Articles of

Association.

The Secretary General shall participate in the

meetings of the General Assembly, the Board and

the Executive Committee without voting rights.

Executive Committee

The Executive Committee submits strategic and

major positioning issues to the Board for decision.

Its proposals to the Board are based on input from

the Secretary General.

Up to four (4) members make up the Executive

Committee. It is composed of the Chairman, Vice

Chairman, Treasurer and a Board member. The

Executive Committee is elected every three years

by the Board of Directors, with a mandate and

powers that are also determined by the Board.

Committees and Working Groups

The Board of Directors is empowered to endorse

projects of common interest to the industry by

the establishment of advisory boards, working

groups and committees of whom it determines

the composition, the mandate and the duration.

The committees and working groups shall be

drawn from the staff of the Member Companies

of GPCA. Any determination or recommendation

made by such Committees shall become operative

only if approved by the Board of Directors.

annualreport 2009

40

GPCAboard of directors

Mohamed H. Al-MadyGPCA Chairman Vice Chairman & CEOSaudi Basic Industries Corporation (SABIC) Kingdom of Saudi Arabia

Hamad Abdul Rahman Al terkaitGPCA Vice Chairman President & CEOEQUATE Petrochemical Co.Kuwait

Abdul Aziz Al HajriGPCA treasurerCEOAbu Dhabi Polymers Ltd (Borouge)United Arab Emirates

Maha Mulla HusainChairman and Managing DirectorPetrochemical Industries Co. (PIC)Kuwait

Mohamed Abdulla Al AzdiCEOAbu Dhabi National Chemicals Company (ChemaWEyaat) United Arab Emirates

Hamad Rashed Al-NuaimiGPCA Executive Committee MemberGeneral ManagerQatar Vinyl Company Ltd. (QVC)Qatar


GPCA board of directors

Ziad Sami Al-labbanPresident & CEORabigh Refining & Petrochemical (Petro Rabigh)Kingdom of Saudi Arabia

Mohammed Al-MullaGeneral Manager Qatar Petrochemicals Co. Ltd. (QAPCO)Qatar

Marwan N. NusairPresident & COOAlujain Corporation Kingdom of Saudi Arabia

Khalifa Al SowaidiManaging DirectorQatar Fertiliser Company (QAFCO) Qatar

Moayyed l. Al-QurtasVice Chairman and Deputy CEO TASNEEKingdom of Saudi Arabia

Dr. Hamed Al DhahabChief Executive OfficerOman PolyPropylene LLCOman

Abdul Rahman JawaheryGeneral ManagerGulf Petrochemicals Industries Co. (GPIC)Kingdom of Bahrain

Ahmad Al OhaliCEOSaudi International PetrochemicalCompany (SIPCHEM) Kingdom of Saudi Arabia

Ali Hassan Al-SidikyDirector – Downstream VenturesQatar General Petroleum Corporation Qatar

annualreport 2009

42

Kingdom of BahrainGulf Petrochemical Industries Company (GPIC)P.O. Box 26730ManamaKingdom of Bahraint + 973 1773 1777f + 973 1773 1047www.gpic.comMr. Yousef Fakhroo

Kingdom of Saudi ArabiaAdvanced Petrochemical Company P.O. Box 11022Al Jubail Industrial CityPost Code 31961Kingdom of Saudi Arabiat + 966 3 3566060f + 966 3 3566065www.appc.com.saMr. Ali A. Al-Shaier

Al Jubail Fertilizer Company (ALBAYRONI)P.O. Box 10046Jubail Industrial City 31961Kingdom of Saudi Arabiat + 966 3 3406342f + 966 3 3416100www.sabic.comMr. Ahmed M. Al Jabr

Al Jubail Petrochemical Co. (KEMYA)P.O. Box 10084Jubail Industrial City 31961Kingdom of Saudi Arabiat + 966 3 3576363f + 966 3 3576353www.sabic.comMr. Abdulaziz Bin Abdullah Alhabardi

Alujain CorporationP.O. Box 50575Future Business Center, 2nd FloorAl Amanah StreetAl Ruwais districtJeddah 21533Kingdom of Saudi Arabiat + 966 2 6529919f + 966 2 6529949www.alujaincorporation.comMr. Marwan N. Nusair

Arabian Petrochemical Co. (PETROKEMYA)P.O. Box 10002Jubail Industrial CityKingdom of Saudi Arabiat + 966 3 3587000f + 966 3 3584480www.sabic.comMr. Omar Abdullah Al-Amoudi

CHEMANOLP.O. Box 2010Jubail Industrial Park 31951Kingdom of Saudi Arabiat + 966 3 3581111 x 400/505f + 966 3 3581311www.chemanol.comMr. Khalid Ibrahim Al-Rabiah

Eastern Petrochemical Company (SHARQ)P.O. Box 10035Jubail Industrial City 31961Kingdom of Saudi Arabiat + 966 3 3575000f + 966 3 3580383www.sabic.comMr. Mussaed S. Al Ghamdi

Gulf Farabi Petrochemical Co. Ltd.P.O. Box 11763Al Jubail Industrial CityPost code 31961Kingdom of Saudi Arabiat + 966 3 3565000f + 966 3 3565009www.gulffarabi.comEng. Mohammed Ibrahim Al-Bibi

NAMA ChemicalsP.O. Box 11919Al Jubail Industrial CityAl Jubail 31961Kingdom of Saudi Arabiat + 966 3 3478888f + 966 3 3478666www.nama.com.saMr. Abdulmohsen Al Ogaili

National Petrochemical Industrial Company (NATPET)P.O. Box 4459Jeddah-21491Kingdom of Saudi Arabiat + 966 2 6048610f + 966 2 6529380www.natpetpp.com Mr. Jamal Malaikah

Rabigh Refining & Petrochemical (PETRORABIGH)East Park 1R-235, Building 7002Dhahran 31311Kingdom of Saudi Arabiat + 966 3 8625667f + 966 3 8625600www.saudiaramco.comMr. Ziad Labban

Safra Co. Ltd.P.O. Box 2824Jeddah 21461Kingdom of Saudi Arabiat + 966 2 6444090f + 966 2 6431214www.safraco.comMr. Khalid Zagzoog

Sahara PetrochemicalsP.O. Box 11166Jubail Industrial City 31961Kingdom of Saudi Arabiat + 966 3 3592222-664f + 966 3 3403818www.saharapcc.comMr. Abdullatiff K. Al-Bilali

fullmembersas of March 2010


full members’ list

Saudi AramcoTower Building, 9th FloorChemical Business OrganizationDhahran 31311Kingdom of Saudi Arabiat + 966 3 8746106f + 966 3 8734287www.saudiaramco.comMr. Fayez Al Sharef

Saudi Basic Industries Corporation (SABIC)P.O. Box 5101Riyadh 11422Kingdom of Saudi Arabiat + 966 1 2258000f + 966 1 2259000www.sabic.comMr. Hamood A. Al-Tuwaijiri

Saudi International Petrochemical Company (SIPCHEM)P.O. Box 12021Al Jubail Industrial CityPost code 31961Kingdom of Saudi Arabiat + 966 3 3599601f + 966 3 3599610www.sipchem.comMr. Rashid M. Al-Dossari

Saudi Yanbu Petrochemical Co. (YANPET)P.O. Box 30333Executive DepartmentYanbu Al-SinaiyahKingdom of Saudi Arabiat + 966 4 3965000f + 966 4 3965001www.sabic.comMr. Soliman A. Alhosain

S-ChemP.O. Box 11221Al Jubail Industrial CityPost code 31961Kingdom of Saudi Arabiat + 966 3 3581760f + 966 3 3583176Mr. Elijah Andjelich

TASNEEP.O. Box 26707Riyadh 11496Kingdom of Saudi Arabiat + 966 3 359 9455f + 966 3 358 2588www.tasnee.comMr. Mufleh S. Al-Shammari

Zamil Group Holding Co.P.O. Box 251Riyadh 11411Kingdom of Saudi Arabiat + 966 1 203 7740f + 966 1 476 6729www.zamil.comEng. Osama Abdulaziz Al Zamil

KuwaitEQUATE Petrochemical CompanyP.O. Box 4733Safat 13048Kuwaitt + 965 2576 5706 f + 965 2576 5708www.equate.comMr. Muayad Al Faresi

Petrochemical Industries Company (PIC)P.O. Box 1084Safat 13011Kuwaitt + 965 2321 1000f + 965 2321 1522www.pic.com.kwMr. Kamal Behbehani

QatarQatar Chemical Co. Ltd. (Q-Chem)Salam Tower, 1st FloorWest BayDohaQatart + 974 4847111f + 974 4837379www.qchem.com.qaMr. Ahmed Ibrahim Al-Emadi

Qatar Fertilizer Co. (QAFCO)P.O. Box 50001MesaieedDohaQatart + 974 4228888f + 974 4770119www.qafco.comMr. Khalifa Abdulla Al Sowaidi

Qatar Petrochemicals Company Ltd. (QAPCO)P.O. Box 756DohaQatart + 974 4242444f + 974 4242421www.qapco.comMr. Abdulrahman Ali Al-Abdullah

Qatar PetroleumP.O. Box 3212DohaQatart + 974 4835666f + 974 4836999www.qp.com.qaMr. Ali Hassan Al Sidiky

Qatar Vinyl Company (QVC)P.O. Box 24440DohaQatart + 974 4765888f + 974 4765704www.qvc.com.qaMr. Hamad Rashed Al Nuaimi

Sultanate of OmanOman India Fertilizer Co. SAOC (Omifco)P.O. Box 67Sur 411Sultanate of Omant + 968 25532011f + 968 25562849www.omifco.comMr. Adil Sakhi Mahmood Al Balushi

annualreport 2009

44full members’ list

Oman Methanol Company LLCP.O. Box 474Post code 322Falaj Al-QabailSoharSultanate of Omant + 968 26850554f + 968 26850540www.omanmethanol.comMr. Richard M. Preece

Oman Polypropylene LLCP.O. Box 277, PC 322Falaj Al QabailSoharSultanate of Omant + 968 26865003f + 968 26865005www.oman-pp.comDr. Hamed Al Dhahab

United Arab EmiratesAbu Dhabi National Chemicals Company (ChemaWEyaat)P.O. Box 43237Al Bateen Towers C-1/17th Floor (Green Emirates Property Building)Abu DhabiUnited Arab Emiratest + 971 2 412 3600f + 971 2 635 9259www.chemaweyaat.comMr. Mohamed Abdullah Al-Azdi

Abu Dhabi Polymers Co. Ltd. (Borouge)P.O. Box 6925Sheikh Khalifa Energy ComplexCorniche RoadAbu DhabiUnited Arab Emiratest + 971 2 607 0100f + 971 2 607 0111www.borouge.comMr. Abdulaziz Alhajri

Ruwais Fertilizer Industries (FERTIL)P.O. Box 2288Sheikh Khalifa Energy ComplexKhalifa StreetAbu DhabiUnited Arab Emiratest + 971 2 602 1133/44f + 971 2 602 1155www.fertil.comMr. Bassim Al Ghanim


ChinaChina Petrochemical Tech. Co. Ltd. (SINOPEC)No. 58 Anwai StreetDengcheng Dist.Beijing 100011Chinat + 86 10 84275259f + 86 10 84271847www.sinopec.com.cnMs. Lin Kezhi

Ningbo JiaFu Import & Export Co. Ltd.22 Floor, Yinzhou Business TowerNo. 257 HuiFeng East StreetNingboChinat + 86 574 8725 8356f + 86 574 8736 4850www.jetwheel.com/web/index.htmlMr. Leo Ruan

EgyptTCI Sanmar Chemicals LLCIndustrial Area (C) El RaswaSouth Port SaidEgyptt + 206 6379 3799 / + 206 637 93540f + 206 6377 8003www.sanmargroup.comMr. J.K. Menon

FranceEmeraude International2, Rue De La Tour DesParis 75009Francet + 33 140 2092 92f + 33 140 2095 30www.emeraude-international.comMr. Pierre Le Corre

GermanyBASF AktiengesellschaftCarl-Bosch-Strasse 38Ludwigshafen 67056Germanyt + 49 (0) 621 600f + 49 (0) 621 6042525www.basf.comMr. David Walker

Camelot IDPro AGTheodor-Heuss-Anlage 1268165 MannheimGermanyt + 49 621 862980f + 49 621 86298-250www.camelot-idpro.comDr. Josef Packowski

Helm AGNordkanalstr 28 Hamburg 20097Germanyt + 49 4023750f + 49 4023751845www.helmag.comMr. Michael Neuhoff

Lurgi GmbH5 Lurgiallee60295 Frankfurt/MGermanyt + 49 69 58080f + 49 69 5808 3888www.lurgi.comDr. Thomas O. Natter

The Linde GroupLinde AG Leopoldstrasse 25280807 MunichGermanyt + 49 89 357 57-01f + 49 89 357 57-1075www.linde.comMr. Uwe Rathmann

IndiaFinolex Industries LimitedP-14, Rajiv Gandhi Infotech Park MIDC Hinjewadi Pune 411057Indiat + 91 20 27408200f + 91 20 22933737www.finolex.comMr. Saurabh S. Dhanorkar

Jay Polychem India Ltd.D-143, Defence ColonyNew Delhi 110024Indiat + 91 11 42791000f + 91 11 41554300www.jaypolychem.comMr. Keshav Sodhi

Noble Resources & Trading – India501, Jaising Business CentreSahar Road, Andheri EastMumbai 400099India t + 91 22 67168888f + 91 22 67168889www.thisisnoble.comMr. Ashish Tawakley

Reliance Industries LimitedReliance Centre19, Walchand Hirachand MargBallard EstateMumbai 400001Indiat + 91 22 22847334f + 91 22 22847990www.ril.comMr. Kamal P. Nanavaty

Supreme Petrochem Ltd.5th Floor, Bldg. No. 11Chakala, Andheri (East)MumbaiIndiat + 91 22 67710000f + 91 22 67091924www.supreme.co.inMr. Mahaveerprasad S. Taparia

JapanJapan Saudi Arabia Methanol Co. Inc.Tokyo Sakurada Bldg, 1-3Nishi-Shinbashi, 1-Chome Minato-KuTokyo 105-0003Japant + 81 335 933541Mr. Yutaka Ohashi

Kingdom of BahrainCRA International P.O. Box 20578Suite 3302/3304, Almoyyed TowerAl SeefKingdom of Bahraint + 973 1756 3300f + 973 1756 4691www.crai.comMr. Bob Young

associate

as of March 2010

members

annualreport 2009

46associate members’ list

Devcorp International BSC (CC)P.O. Box 10236Manama 311Kingdom of Bahraint + 973 1722 8801f + 973 1722 8805www.devcorpint.comMr. Ibrahim Al MishariMr. Milind Bole

Global Petrochemical Marketing Co. BSC(C)P.O. Box 75007Block No. 327 – Road No. 2701Building No.49 – Flat No.21ManamaKingdom of Bahraint + 973 1774 4881/2f + 973 1774 4883www.g-p-m-c.comMr. Yosif Jabri

Norgas Asia PTE Ltd.13 Floor, Unit 13A, West TowerThe Financial CentreBahrain Financial HarbourManamaKingdom of Bahraint + 973 1710 2820 / + 973 399 58902 f + 973 1710 4707www.norgas.orgMr. Jawahar Coelho

Kingdom of Saudi ArabiaA.T. KearneyP.O. Box 230888Regus Kingdom Business CentreKingdom Tower(28th Floor, Office 1434)RiyadhKingdom of Saudi Arabiat + 971 5 02400630f + 971 4 7090599www.atkearney.comMr. Daniel G. StartaMr. Vance L. Scott

Al Bilad Catalyst Co LtdP.O. Box 10174St 198 Secondary IndustriesJubail Industrial City 31961Kingdom of Saudi Arabiat + 966 3 3589080f + 966 3 3581312www.bilad-catalyst.comDr. Saleh Abotteen

Al Jabr – Talke Ltd.P.O. Box 10610Jubail Industrial City 31961Kingdom of Saudi Arabiat + 966 3 618317f + 966 3 3472555www.aljabr-talke.comMr. Richard Heath

Al Majdouie Derijke Logistics Co. Ltd.P.O. Box 336Ibn Khalddon StreetDammam 31411Kingdom of Saudi Arabiat + 966 3 8424814f + 966 3 8427196www.almajdouie.comMr. Bernard Van Den Wouwer

Aldrees Petroleum & Transport Services CompanyP.O. Box 43011Al Nadeem AreaRiyadh 11561Kingdom of Saudi Arabiat + 966 14899999f + 966 14898888www.aldrees.comMr. Tawfique Ahmed Al Muzain

Arabian Pipeline & Services Co. Ltd. (Anabeeb)P.O. Box 234JubailPost code 31951 Kingdom of Saudi Arabiat + 966 3 3620556f + 966 3 3614990www.anabeeb.comMr. Hashim G. Moraisel

Astra Polymer Compounding CompanyP.O. Box 30740Al Khobar 31952Kingdom of Saudi Arabiat + 966 3 8121232f + 966 3 8121342www.astra-polymers.comMr. Mohammad N. Al-Utaibi

Banque Saudi FransiHead Office BuildingMa’ather StreetRiyadh 11554Kingdom of Saudi Arabiat + 966 1 2899999f + 966 1 4042311www.alfransi.com.saMohamed Al HassanBashar Al Khatib

Gulf Chemicals and Industrial Oils CompanyP.O. Box 3942Second Industrial CityDammam 31481Kingdom of Saudi Arabiat + 966 3 8121022f + 966 3 8121770www.gcir.com.saIbrahim Al DuaijAhmad Al Sukhon

Industrialization & Energy Services Company (TAQA)P.O. Box 28589Riyadh 11447Kingdom of Saudi Arabiat + 966 1 2911111 Etxn 222f + 966 1 2918555www.taqa.com.saEng. Abdulrahman M. Bin Zarah

Ingenia Polymers (KSA) Corp.KFUPM Box 65Dhahran 31261Kingdom of Saudi Arabiat + 966 5 63569707f + 966 3 8607629www.ingeniapolymers.comMr. Zach Charlton


associate members’ list

Ma’adenP.O. Box 320019F, EPCTAl Khobar 31952Kingdom of Saudi Arabiat + 966 3 8659377f + 966 3 8659376www.maaden.com.saMr. Mohammad A. Alam

National Chemical Carriers Ltd. Co.P.O. Box 8931301, Old Akariyah BldgSitteen St. Malaz AreaRiyadhKingdom of Saudi Arabiat + 966 1 4773934f + 966 1 4764328www.ncc-riyadh.com.saMr. Abdullah M. Mohanna

Royal Commission for Jubail & YanbuP.O. Box 5964Riyadh 11432Kingdom of Saudi Arabiat + 966 1 4746691f + 966 1 4793471www.rcjy.gov.saMr. Mubarak A. Al-Mubarak

Sabic Terminal Services Co. (SABTANK)P.O. Box 10135Jubail Industrial City 31961Kingdom of Saudi Arabiat + 966 3 3579000f + 966 3 3575406www.sabic.comMr. Yousef A. Al-Mubarrazi

Saudi Hollandi BankP.O. Box 1467Riyadh 11431Kingdom of Saudi Arabiat + 966 1 4067888f + 966 1 4068667www.shb.com.saMr. Ed Mendoza

Saudi Industrial Export Company (SIEC)P.O. Box 21977Riyadh 11485Kingdom of Saudi Arabiat + 966 1 4058080f + 966 1 4022854www.siec.com.saMr. Abdullah M. Al-Khenaifer

The National Environmental Preservation Co. (BeeA´h)P.O. Box 10628Jubail Industrial City 31961Kingdom of Saudi Arabiat + 966 3 3588008f + 966 3 3588584www.beeah.comMr. Saad I. Al-Inaizi

KuwaitBoubyan Petrochemical CompanyAl-Sharq, Khalijiya Building5th & 6th Floor2383 Safat13024 Kuwaitt + 965 2244 6684/5/6f + 965 2241 4100www.boubyan.comMohammed Al-BaharDabbous Al-Dabbous

Ikarus Petroleum IndustriesP.O. Box 551Yarmouk 72656Kuwaitt + 965 2496 5885f + 965 2496 5886Mr. Suhail Abograis

Kuwait National Petroleum Co.P.O. Box 13001Mina Abdulla RefinerySafatKuwaitt + 965 2320 3200f + 965 2328 0282www.knpc.comMr. Abdul Mohsen Khajah

Qurain Petrochemical Industries CompanyP.O. Box 29299SabahayaSafat 13153Kuwaitt + 965 2321 1900f + 965 2362 7288www.qpic-kw.comMr. Fuad Akbar

PakistanInternational Chemplast (Pvt) LimitedSuite #509Progressive PlazaBeaumont RoadKarachi 75530Pakistant + 92 21 111325325f + 92 21 5656591www.icplpk.comMr. Arshad Riaz Fazail

QatarGulf Organization for Industrial Consulting (GOIC)P.O. Box 5114DohaQatart + 974 4858888f + 974 4831465www.goic.org.qaH.E Dr. Lulwa Al-Misned

Qatar Industrial Manufacturing Company (QIMC)P.O. Box 16875Al Corniche StreetWest BayDohaQatart + 974 4831199f + 974 4837878www.qimc.com.qaMr. AbdulRahman Al-AnsariDr. Hazim Al-Kadi

annualreport 2009


Total PetrochemicalsP.O. Box 5177DohaQatart + 974 4208360f + 974 4980794www.totalpetrochemicals.comMr. Bryan Canfield

SingaporeBraemar Quincannon Pte. Limited50 Raffles Place# 21-04 Singapore Land TowerPost Code 048623Singaporet + 65 653 30069f + 65 653 63459www.braemarseascope.com Mr. Mark Mirosevic-Sorgo

Eitzen Gas A/SOne Temasek Avenue#35-05 Millenia TowerSingaporet + 65 632 55777f + 65 633 72526www.eitzen-gas.comMr. Jakob Bode

South KoreaSamsung Engineering Co. Ltd.Samsung SEI Tower 467-14Dogok-Zdong, Gangnam - GuSeoul 135-856South Koreat + 822 34583323f + 822 34584051www.samsungengineering.co.krMr. Namyong Hur

SwitzerlandNova ChemicalsAvenue De La Gare 14FribourgZIP 1700Switzerlandt + 41 26 426 5757f + 41 26 426 5770www.novachem.comMr. Rocky Vermani

Songwon InternationalBreitenstrasse16/P.O. Box CH-8501TravenfeldSwitzerlandt + 41 52 635 0000f + 41 52 635 0001www.songwonind.comMr. Dieter Morath

The NetherlandsLyondellBasell Industries Groot HandelsgebouwWeena 7373013 AM RotterdamThe Netherlandst + 31 10 7136010 f + 31 10 7136400 www.basell.comMr. R.W.B. Blaisse

TurkeyBayegan Dis Ticaret ASBayar Cad. Sitma Pinar sok.No: 3, Kat: 5 KozyatagiIstanbul 34742Turkeyt + 902 164100000f + 902 163738519www.bayegan.netMr. Ruya Bayegan

Chemorbis19 Mayis MahallesiAtaturk CaddesiSeref Yazgan Is MerkeziNo: 72, Kat: 6D: 16 KozyatagiIstanbul 34736Turkeyt + 902 164681025f + 902 163605788www.chemorbis.comMr. Mirza Kadic

United Arab EmiratesAbu Dhabi Basic Industries Corporation (ADBIC)P.O. Box 7063Abu DhabiUnited Arab Emiratest + 971 2 698 8444f + 971 2 678 9990www.adbic.comMr. Brendan Sharpe

Abu Dhabi Oil Refining Co. (TAKREER)P.O. Box 3593Abu DhabiUnited Arab Emiratest + 971 2 602 7040f + 971 2 602 7050www.takreer.com/englishMr. Ismail Al Mulla

Abu Dhabi Ports Company (ADPC) P.O. Box 54477Port Zayed, Mina RoadAbu DhabiUnited Arab Emiratest + 971 2 695 2060f + 971 2 695 2177www.adpc.aeMr. Antoine Tayyar

Agility PJSCP.O. Box 93971MW Plot 4, Queenex BuildingMusaffah Industrial AreaAbu DhabiUnited Arab Emiratest + 971 2 509 9599f + 971 2 551 4833www.agilitylogistics.comMr. Houssam Mahmoud

BorealisP.O. Box 48313C2 Tower, 16th FloorAl Bateen AreaAbu DhabiUnited Arab Emiratest + 971 2 412 3502f + 971 2 635 9262 www.borealisgroup.comMr. Henry Sperle



Chemical Market Associates Inc. (CMAI)P.O. Box 500395DubaiUnited Arab Emiratest + 971 4 391 2931f + 971 4 391 6476www.cmaiglobal.comMr. Anthony James Potter

Contax Fz LLCP.O. Box 500104G11–G13, Bldg. 11, DICDubaiUnited Arab Emiratest + 971 4 391 0547f + 971 4 391 0545www.contaxgroup.comMs. Kathleen Bury

DMCCP.O. Box 48800Level 19, Emirates TowersSh. Zayed RoadDubaiUnited Arab Emiratest + 971 4 390 3899f + 971 4 390 3897www.dmcc.aeMr. James Bernard

Dow Chemicals IMEA GmbHLevel 22, Al Attar Business TowerSheikh Zayed RoadDubaiUnited Arab Emiratest + 971 4 312 3699f + 971 4 312 3660www.dow.comMr. Hani Wassim

Evonik Degusa Gulf FZEP.O. Box 293594DubaiUnited Arab Emiratest + 971 4 204 5580f + 971 4 204 5578www.evonik.comMr. Lars Bechler

Gulf Navigation Holding PJSCP.O. Box 49651Saba Tower 1, 32nd FloorDubaiUnited Arab Emiratest + 971 4 427 0104f + 971 4 427 0102www.gulfnav.comMr Abdullah Al ShuraimMr Per Wistoft

International Expo-Consults L.L.C.P.O. Box 50006Shk. Zayed RoadDubaiUnited Arab Emiratest + 971 4 343 5777f + 971 4 343 6115www.chemtexmiddleeast.comMs. Angie Mountford

Kemsol Ltd.P.O. Box 18295DubaiUnited Arab Emiratest + 971 4 883 9800f + 971 4 883 9910www.kemsoluae.comMr. Asit Gunwantlal Shah

Llyod’s Register EMEAP.O. Box 29677Suite 2001, Festival CentreDubai Festival CityDubaiUnited Arab Emiratest + 971 4 701 4100f + 971 4 701 4119www.lr.comMr. Nick Nooren

Maersk LineP.O. Box 29854Ground Floor Shipping TowerAl Mina RoadDubaiUnited Arab Emiratest + 971 4 508 6207f + 971 4 392 0155www.maersk-logistics.comMr. Anthony Elwine

Malaney Industries FZEP.O. Box 418782 F 38A, LOB 2Hamriyah Free ZoneSharjahUnited Arab Emiratest + 971 6 526 3840f + 971 6 526 3841www.malaney.comMr. A. S. Poojary

Masdar-Abu Dhabi Future Energy CoP.O. Box 54115Abu DhabiUnited Arab Emiratest + 971 2 653 3333f + 971 2 653 5002www.masdar.aeMs. Ghada Ayyash

MEGlobal International FZEPost Box 293615Building 5W-B-Wing, 6th FloorDubai Airport Free Zone Authority DubaiUnited Arab Emiratest + 971 4 292 3999f + 971 4 292 3911/12www.meglobal.bizDr. Ramesh Ramachandran

Methanex Middle EastP.O. Box 450334Fortune Tower, Office 205Jumeirah Lakes TowersDubaiUnited Arab Emiratest + 971 4 438 0299 f + 971 4 438 0240www.methanex.comMr. Bryan Saunders

NCC Odfjell Chemical Tankers JLTP.O. Box 214459Liwa Heights, 3101–3104Jumeirah Lakes TowersDubaiUnited Arab Emiratest + 971 4 440 1713www.odfjell.comMr. Erik Nilsen

annualreport 2009


Petrochem Middle EastP.O. Box 239101603 City Tower IISh. Zayed RoadDubaiUnited Arab Emiratest + 971 4 332 9192f + 971 4 332 9200www.petrocheme.comMr. Yogesh Mehta

Polychem Resins International Industries LLCP.O. Box 37029Jebel Ali Industrial AreaDubaiUnited Arab Emiratest + 971 4 880 1662f + 971 4 880 1866www.polycheminternational.comMr. C.S. Chatterjee

Purvin & Gertz IncP.O. Box 345009Dubai International Academic CityBuilding 10, 3rd FloorDubaiUnited Arab Emiratest + 971 4 437 0388/9f + 971 4 437 0390www.purvingertz.comMr. Michael Corke

Rakha Al Khaleej Intl. LLCP.O. Box 55157DubaiUnited Arab Emiratest + 971 4 397 7999f + 971 4 397 2555www.rai-uae.comMs. Barkha Ahuja

Reda Industrial Materials GroupP.O. Box 15004Khalid Al Attar TowerShk Zayed RoadDubaiUnited Arab Emiratest + 971 4 332 5100f + 971 4 332 5200www.redagroup.comMr. Abboud Smadi

Shell Chemicals ArabiaP.O. Box 3071403, City Tower 2Sh. Zayed RoadDubaiUnited Arab Emiratest + 971 4 303 5289f + 971 4 332 1597www.shell.com/chemicalsMr. Aslam Moola

Stratley AGP.O. Box 24459Sheikh Zayed RoadDubaiUnited Arab Emiratest + 971 4 312 4957f + 971 4 312 4953www.stratley.comMr. Oliver Gawad

Stolt-Nielsen Transportation GroupP.O. Box 8612API TowerSh. Zayed RoadDubaiUnited Arab Emiratest + 971 4 332 8444f + 971 4 332 8555www.sntg.comMr. Atle Sebjornsen

Talent Partners (Dubai) LLCP.O. Box 58026DubaiUnited Arab Emiratest + 971 4 343 9960f + 971 4 343 9030www.talentpartnersintl.comMr. Andrew Croft

Taurus Comtrade FZCOP.O. Box 262643LOB 01 OFF 24JAFZA Free ZoneDubaiUnited Arab Emiratest + 971 5 045 67422f + 971 4 359 0528www.tauruscomtrade.comMr. Nikhil Buch

TenCate Grass Middle EastTechno ParkJebel AliDubaiUnited Arab Emiratest + 971 4 803 8111f + 971 4 803 8223www.tencate.comMr. Marc Verleyen

United Arab ShippingP.O. Box 55586DubaiUnited Arab Emiratest + 971 4 295 2227f + 971 4 295 4026www.uasc.netMr. Waleed Al Dawood

UOP Middle East Co.P.O. Box 924825th Floor World Trade CentreDubaiUnited Arab Emiratest + 971 4 331 3841f + 971 4 331 7033www.uop.comMr. Raza Jawad

Vopak Middle East B.V.P.O. Box 119448Office 2, 1st FloorEmaar Business ParkBuilding No. 2Sheikh Zayed RoadDubaiUnited Arab Emiratest + 971 4 361 8301f + 971 4 361 8302www.vopak.comMr. Ian Cochrane

Wacker Chemicals Middle EastP.O. Box 18062Jebel Ali Free ZoneDubaiUnited Arab Emiratest + 971 4 709 9999f + 971 4 883 2072www.wacker.comMr. Stefano Iannacone



Worley ParsonsP.O. Box 45030Abu DhabiUnited Arab Emiratest + 971 2 676 6439f + 971 2 671 2097www.worleyparsons.comMr. Dennis Pisula

United KingdomAir Products PLCHersham Place Technology ParkMolesey RoadWalton on ThamesSurrey KT12 4RZt + 44 19 322 49200f + 44 19 322 49565www.airproducts.comMs. Suzanne Lowe

Clarksons PLCSt. Magnus House3 Lower Thames StreetLondon EC3R 6HEUnited Kingdomt + 44 207 334 3092f + 44 870 460 1517www.clarksons.comMr. Patrick Curry

ICISQuadrant HouseThe QuadrantSutton SM25ASUnited Kingdomt + 44 208 652 3345f + 44 208 652 3929www.icis.comMr. Richard Haddrell

Nexant Chem Systems161 Hammersmith RoadLondon W6 8BSUnited Kingdomt + 44 207 950 1600f + 44 207 950 1550www.chemsystems.comMr. Alastair Hensman

Tecnon Orbichem Ltd12 Calico HousePlantation WharfBatterseaLondon SW11 3TNUnited Kingdomt + 44 207 924 3955f + 44 207 978 5307www.orbichem.comMr. Roger Lee

United States of AmericaChemtex International440 N Wolfe RoadSunnyvaleCA 94085United States of Americat + 1 408 524 7474f + 1 408 524 7470www.chemtexintl.comMr. Rigoberto Cobos

DeWitt and Company Inc.15333 John F. Kennedy BlvdSuite 850HoustonUnited States of Americat + 1 281 878 7200f + 1 281 878 7210www.dewittworld.comMr. Peter Jordan

Exxon Mobil Chemical Company13501 Katy FreewayCORP-EMCC-W1-372Houston, TexasUnited States of Americat + 1 281 870 6075f + 1 281 588 4772www.exxonmobilchemical.comMr. Walt Buchholtz

Packwell Inc10016 Porter RoadLa PorteTexas 77571United States of Americat + 1 281 842 5900f + 1 713 247 9527www.packwell.comMr. Jaleel Ispahany

SRI Consulting4300 Bohannon Drive#200, Menlo Park CA 94025United States of Americat + 1 650 384 4000f + 1 650 330 1190www.sriconsulting.comMr. John Pearson

TPC Group Inc5151 San Felipe StSuite 800Houston 77056United States of Americat + 1 713 427 7444f + 1 713 475 5208www.tpcgroup.comMr. Charles Shaver

Vinmar International Ltd.16800 Imperial Valley Drive Suite 499Houston 77060United States of Americat + 1 281 618 1300f + 1 281 448 4474www.vinmar.com Dr. Serge Verma

annualreport 2009

52

by name of the official representativemembers’ index

Abograis Suhail 47

Abotteen Saleh (Dr.) 46

Ahuja Barkha 50

Akbar Fuad 47

Al Abdullah Abdulrahman Ali 43

Al Amoudi Omar Abdullah 42

Al Ansari AbdulRahman 47

Al Azdi Mohamed Abdullah 44

Al Balushi Adil Sakhi

Mahmood 43

Al Bibi Mohammed Ibrahim

(Eng.) 42

Al Bilali Abdullatiff K. 42

Al Dabbous Dabbous 47

Al Dawood Waleed 50

Al Dhahab Hamed (Dr.) 44

Al Dossari Rashid M. 43

Al Duaij Ibrahim 46

Al Emadi Ahmed Ibrahim 43

Al Faresi Muayad 43

Al Ghamdi Mussaed S. 42

Al Ghanim Bassim 44

Al Habardi Abdulaziz Bin

Abdullah 42

Alhajri Abdulaziz 44

Al Hassan Mohamed 46

Alhosain Soliman A. 43

Al Inaizi Saad I. 47

Al Jabr Ahmed M. 42

Al Khenaifer Abdullah M. 47

Al Mishari Ibrahim 46

Al Misned Lulwa (Dr.) 47

Alam Mohammad A. 47

Al Mubarak Mubarak A. 47

Al Mubarrazi Yousef A. 47

Al Mulla Ismail 48

Al Muzain Tawfique Ahmed 46

Al Nuaimi Hamad Rashed 43

Al Ogaili Abdulmohsen 42

Al Rabiah Khalid Ibrahim 42

Al Shaier Ali A. 42

Al Shammari Mufleh S. 43

Al Sharef Fayez 43

Al Shuraim Abdullah 49

Al Sidiky Ali Hassan 43

Al Sowaidi Khalifa Abdulla 43

Al Tuwaijiri Hamood A. 43

Al Utaibi Mohammad N. 46

Al Zamil Osama Abdulaziz

(Eng.) 43

Andjelich Elijah 43

Ayyash Ghada 49

Bayegan Ruya 48

Bechler Lars 49

Behbehani Kamal 43

Bernard James 49

Bin Zarah Abdulrahman M.

(Eng) 46

Blaisse R.W.B. 48

Bode Jakob 48

Buch Nikhil 50

Buchholtz Walt 51

Bury Kathleen 49

Canfield Bryan 48

Charlton Zach 46

Chatterjee C.S. 50

Cobos Rigoberto 51

Cochrane Ian 50

Coelho Jawahar 46

Corke Michael 50

Croft Andrew 50

Curry Patrick 51

Dhanorkar Saurabh S. 45

Elwine Anthony 49

Fakhroo Yousef 42

Fazail Arshad Riaz 47

Gawad Oliver 50

Haddrell Richard 51

Heath Richard 46

Hensman Alastair 51

Hur Namyong 48

Iannacone Stefano 50

Ispahany Jaleel 51

Jabri Yosif 46

Jawad Raza 50

Jordan Peter 51

Kadic Mirza 48

Kezhi Lin 45

Khajah Abdul Mohsen 47

Labban Ziad 42

Le Corre Pierre 45

Lee Roger 51

Lowe Suzanne 51

Mahmoud Houssam 48

Malaikah Jamal 42

Mehta Yogesh 50

Mendoza Ed 47

Menon J.K. 45

Mirosevic-Sorgo Mark 48

Mohanna Abdullah M. 47

Moola Aslam 50

Moraisel Hashim G. 46

Morath Dieter 48

Mountford Angie 49

Nanavaty Kamal P. 45

Natter Thomas O. (Dr.) 45

Neuhoff Michael 45

Nilsen Erik 49


members’ index by representative

Nooren Nick 49

Nusair Marwan N. 42

Ohashi Yutaka 45

Packowski Josef (Dr.) 45

Pearson John 51

Pisula Dennis 51

Poojary A. S. 49

Potter Anthony James 49

Preece Richard M. 44

Ramachandran Ramesh (Dr.) 49

Rathmann Uwe 45

Ruan Leo 45

Saunders Bryan 49

Sebjornsen Atle 50

Shah Asit Gunwantlal 49

Sharpe Brendan 48

Shaver Charles 51

Smadi Abboud 50

Sodhi Keshav 45

Sperle Henry 48

Starta Daniel G. 46

Taparia Mahaveerprasad S. 45

Tawakley Ashish 45

Tayyar Antoine 48

Verleyen Marc 50

Verma Serge (Dr.) 51

Vermani Rocky 48

Walker David 45

Wassim Hani 49

Wouwer Bernard Van Den 46

Young Bob 45

Zagzoog Khalid 42

annualreport 2009

54

by companymembers’ index

A.T. Kearney 46

Abu Dhabi Basic Industries Corporation (ADBIC) 48

Abu Dhabi National Chemicals Company

(ChemaWEyaat) 44

Abu Dhabi Oil Refining Co. (TAKREER) 48

Abu Dhabi Polymers Co. Ltd. (Borouge) 44

Abu Dhabi Ports Company (ADPC) 48

Advanced Petrochemical Company 42

Agility PJSC 48

Air Products PLC 51

Al Bilad Catalyst Co. Ltd. 46

Al Jabr – Talke Ltd. 46

Al Jubail Fertilizer Company (ALBAYRONI) 42

Al Jubail Petrochemical Co. (KEMYA) 42

Al Majdouie Derijke Logistics Co. Ltd. 46

Aldrees Petroleum & Transport Services Company 46

Alujain Corporation 42

Arabian Petrochemical Co. (PETROKEMYA) 42

Arabian Pipeline & Services Co. Ltd. (Anabeeb) 46

Astra Polymer Compounding Company 46

Banque Saudi Fransi 46

BASF Aktiengesellschaft 45

Bayegan Dis Ticaret AS 48

Borealis 48

Boubyan Petrochemical Company 47

Braemar Quincannon Pte. Limited 48

Camelot IDPro AG 45

CHEMANOL 42

Chemical Market Associates Inc. (CMAI) 49

Chemorbis 48

Chemtex International 51

China Petrochemical Tech. Co. Ltd. (SINOPEC) 45

Clarksons PLC 51

Contax Fz LLC 49

CRA International 45

Devcorp International BSC (CC) 46

DeWitt and Company Inc. 51

DMCC 49

Dow Chemicals IMEA GmbH 49

Eastern Petrochemical Company (SHARQ) 42

Eitzen Gas A/S 48

Emeraude International 45

EQUATE Petrochemical Company 43

Evonik Degusa Gulf FZE 49

Exxon Mobil Chemical Company 51

Finolex Industries Limited 45

Global Petrochemical Marketing Co.B.s.c.(c) 46

Gulf Chemicals and Industrial Oils Company 46

Gulf Farabi Petrochemical Co. Ltd. 42

Gulf Navigation Holding PJSC 49

Gulf Organization for Industrial Consulting (GOIC) 47

Gulf Petrochemical Industries Company (GPIC) 42

Helm AG 45

ICIS 51

Ikarus Petroleum Industries 47

Industrialization & Energy Services Company

(TAQA) 46

Ingenia Polymers (KSA) Corp. 46

International Chemplast (Pvt) Limited 47

International Expo-Consults L.L.C. 49

Japan Saudi Arabia Methanol Co. Inc. 45

Jay Polychem India Ltd 45

Kemsol Ltd. 49

Kuwait National Petroleum Co. 47

Llyod’s Register EMEA 49

Lurgi GmbH 45

LyondellBasell Industries 48

Ma’aden 47

Maersk Line 49

Malaney Industries FZE 49

Masdar-Abu Dhabi Future Energy Co 49

MEGlobal International FZE 49

Methanex Middle East 49

NAMA Chemicals 42

National Chemical Carriers Ltd. Co. 47

National Petrochemical Industrial Company

(NATPET) 42

NCC Odfjell Chemical Tankers JLT 49

Nexant Chem Systems 51

Ningbo JiaFu Import & Export Co. Ltd 45

Noble Resources & Trading – India 45

Norgas Asia PTE Ltd 46

Nova Chemicals 48

Oman India Fertilizer Co. SAOC (Omifco) 43

Oman Methanol Company LLC 44

Oman Polypropylene LLC 44

Packwell Inc 51

Petrochem Middle East 50

Petrochemical Industries Company (PIC) 43

Polychem Resins International Industries LLC 50

Purvin & Gertz Inc 50

Qatar Chemical Co. Ltd. (Q-Chem) 43

Qatar Fertilizer Co. (QAFCO) 43

Qatar Industrial Manufacturing Company (QIMC) 47

Qatar Petrochemicals Company Ltd. (QAPCO) 43

Qatar Petroleum 43

Qatar Vinyl Company (QVC) 43

Qurain Petrochemical Industries Company 47

Rabigh Refining & Petrochemical (PETRORABIGH) 42

Rakha Al Khaleej Intl. LLC 50

Reda Industrial Materials Group 50

Reliance Industries Limited 45

Royal Commission for Jubail & Yanbu 47

Ruwais Fertilizer Industries (FERTIL) 44

Sabic Terminal Services Co. (SABTANK) 47

Safra Co. Ltd. 42

Sahara Petrochemicals 42

Samsung Engineering Co. Ltd. 48

Saudi Aramco 43

Saudi Basic Industries Corporation (SABIC) 43

Saudi Hollandi Bank 47

Saudi Industrial Export Company (SIEC) 47

Saudi International Petrochemical Company

(SIPCHEM) 43

Saudi Yanbu Petrochemical Co. (YANPET) 43

S-Chem 43

Shell Chemicals Arabia 50

Songwon International 48

SRI Consulting 51

Stolt-Nielsen Transportation Group 50

Stratley AG 50

Supreme Petrochem Ltd. 45

Talent Partners (Dubai) LLC 50

TASNEE 43

Taurus Comtrade FZCO 50

TCI Sanmar Chemicals LLC 45

Tecnon Orbichem Ltd 51

TenCate Grass Middle East 50

The Linde Group 45

The National Environmental Preservation Co.

(BeeA´h) 47

Total Petrochemicals 48

TPC Group Inc 51

United Arab Shipping 50

UOP Middle East Co. 50

Vinmar International Ltd. 51

Vopak Middle East B.V. 50

Wacker Chemicals Middle East 50

Worley Parsons 51

Zamil Group Holding Co. 43


members’ index by company

P.O. Box 123055, Dubai, UAE

telephone +9714 3217444

fax +9714 3217677

email [email protected]

website www.gpca.org.ae

gpca annual report 2009

Documents

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