FaceOf: Yousef Abdullah Al-Benyan, CEO of Saudi Basic Industries Corp.

Updated 30 July 2018
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FaceOf: Yousef Abdullah Al-Benyan, CEO of Saudi Basic Industries Corp.

Yousef Abdullah Al-Benyan is a Saudi businessman and the chief executive officer of the Saudi Basic Industries Corp. (SABIC) — the world’s third-largest diversified petrochemicals company. 

Headquartered in Riyadh, SABIC is the largest public company in the Middle East with a staff of over 40,000 employees worldwide. 

During a press conference held this week at SABIC headquarters, Al-Benyan revealed the net profit gains the company has achieved in the second quarter of 2018 —  an impressive SR6.7 billion, in comparison to SR3.71 billion in the same period last year, a rise of 81 percent. 

Al-Benyan confirmed that these results reflect the company’s ability to achieve large returns on positive developments within international markets, aided by the transformation and restructuring of key initiatives implemented over the past two years. 

After earning his bachelor’s degree in economics, and his master’s degree in industrial management, Al-Benyan joined SABIC in 1987 as a business development specialist before joining SABIC’s corporate communications division. Al-Benyan would then relocate to Stamford, Connecticut, US, where he would serve as SABIC’s operations manager. In 1994, he became a commercial manager for SABIC representing both North America and Latin America, while based in Houston, Texas. 

In 2002, he was promoted to general manager of SABIC Asia, where he would make significant contributions to SABIC’s growth in the Asian market, especially in China. Al-Benyan returned to Houston in the fall of 2005 as the general manager of SABIC Americas, and in 2008, would be called upon to head the corporate human resources. In 2013, Al-Benyan was appointed as head of SABIC’s chemicals business, the company’s largest unit.

Prior to being named vice chairman and chief executive officer, Al-Benyan also served as executive vice president, corporate finance and CFO. Other positions he holds include the chairman of the Gulf Petrochemicals and Chemicals Association (GPCA), chairman of the boards at Yanbu National Petrochemical Co. (Yansab), the Saudi Arabian Fertilizer Co. (SAFCO) and Saudi Iron and Steel Co. (HADEED), as well as chairman of the Petrochemical Manufacturers Committee. 

Al-Benyan is also a member of the International Business Council of the World Economic Forum, a member of the King Saud University Advisory Board, a board member of the King Abdulaziz City for Science and Technology, as well as an Executive Committee member of the Riyadh Economic Forum at the Riyadh Chamber of Commerce.


Sandstorm engulfs parts of Saudi Arabia with rain expected at the weekend

Updated 36 min 17 sec ago
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Sandstorm engulfs parts of Saudi Arabia with rain expected at the weekend

  • Low visibility was forecast on Thursday and Friday for cities in the Riyadh region
  • Sub-zero temperatures are expected

RIYADH: A sandstorm engulfed parts of the Kingdom on Thursday, enveloping the skyline with dust and hampering visibility in some cities in the Eastern Province.

The General Authority for Meteorology and Environmental Protection has forecast more such storms and low visibility between Wednesday and Saturday across the Kingdom, as well as light to moderate rain and snowfall to the north, which will lead to a substantial drop in temperatures in places, including Riyadh.

According to forecasts, mercury levels could drop as low as -3 degrees Celsius.

Low visibility was forecast on Thursday and Friday for cities in the Riyadh region, including Al-Kharj, Shaqra, Zulfi, Dawadmi, Afif, Aflaj and Wadi Al-Dawasir.

High speed wind and dust are predicted during the day time.

According to the forecast for Riyadh, especially areas north of the city, mercury levels will drop on Friday and Saturday, while wind speed reached up to 27 km/h in the capital on Thursday.

Residents in the Eastern Province, Makkah, Madinah, Tabuk, Al-Jouf, Hail, Al-Qassim and Najran also experienced dusty weather.

Amid volatile weather conditions, the Civil Defense has advised motorists to slow down due to continued low visibility.

In other news, residents across parts of the Kingdom will be able to view a partial lunar eclipse just before dawn on Monday.

The eclipse will be 90 percent visible in Tabuk, half visible in Madinah, a third visible in Makkah and only marginally visible in Riyadh