Rabigh Refining and Petrochemical Company (A Saudi Joint Stock Company)

Climate Impact & Sustainability Data (2023)

Total Carbon Emissions:110,000 tCO2e/year (captured)

Mangrove Initiative: Planted 10,000 mangrove saplings.
Commissioned an onsite Carbon Capture facility expected to capture 110,000 tons of CO2e per year.
Executed a coral reef restoration project, creating nine coral nurseries and populating them with 355 coral fragments.

Expanded CSR initiatives to empower women entrepreneurs through training courses.
Supported the sustainability of work for fishermen by supplying essential equipment.
Supported over 125 students by fulfilling their school necessities.
Offered training opportunities to 94 University Graduates through the TAMHEER program.
44 pre-graduation students participated in the COOP program as trainees.

Implemented a Governance and Compliance Framework, including Anti-Bribery Anti-Corruption Policy, Anti-Money Laundering Policy, Sanctions and Trade Control Policy, and Third Party Compliance Policy.
Improved the contents of its external Sustainability and Governance webpage, addressing the requirements of various ESG Rating Agencies.

Long-term Goals:

Net-zero footprint aligning with Saudi Arabia's Green Initiative Forum target of 2021.

Challenging market conditions adversely affecting margins for refined and petrochemical products.
Significant increase in financing costs due to rising interest rates.
Unplanned shutdown of the Ethane cracker unit and the High Olefins Fluid Catalytic Cracker (HOFCC) unit for maintenance and repairs.
A one-off provision of Saudi Riyals 365.7 million relating to a claim raised by a third party.

Evaluated the Company’s funding position and liquidity.
Reviewed and approved the Company’s Business Plan for 2024, 2025, and 2026.
Reviewed potential founding shareholders' support through payment term adjustments and crude slate changes.
Reviewed the economics and cash flow projections of two mega projects (Debottlenecking Project and Diesel Hydrotreater Project).
Implemented 185 initiatives under the Transformation Program to reduce operational costs and increase revenue.
Reviewed 40 new initiatives to further reduce operating losses in 2024.

Frameworks Used: IFRS

Certifications: ISO 9001:2015, ISO 14001:2015, ISO 45001:2018, RC 14001:2015

Third-party Assurance: KPMG Professional Services

Top-ranked Petrochemical Company at the National CSR Portal
Second Position for Tier 3 Loss of Primary Containment (LOPC) Dashboard at the GPCA Responsible Care Excellence Awards
Procurement Excellence Award for 'Best Practices in SAP ARIBA Catalog Management'