News

Celebrating EQUATE's ISO Laboratory Accreditation - A Milestone in Excellence.​

Kuwait City, March 27, 2024 - EQUATE proudly announces the achievement of ISO 17025:2017 Laboratory Accreditation, a significant milestone that underscores the company's unwavering dedication to excellence. This accreditation not only elevates industry standards in Kuwait but also highlights EQUATE's commitment to delivering top-quality products and services to its valued customers.

By obtaining the ISO Accreditation, EQUATE ensures compliance with the Kuwait Environmental Public Authority (KEPA) requirements, underscoring the company's commitment to environmental sustainability. The accreditation establishes robust processes that consistently yield reliable outcomes, enhancing operational efficiency and customer satisfaction.

Internationally, this milestone garners invaluable recognition and fosters confidence in the accuracy and comparability of EQUATE's laboratory results with those of other leading laboratories worldwide. The accreditation continues to bolsters the company's credibility within the industry, affirming its status as a trusted partner for customers globally.

EQUATE's ISO Accreditation reflects the company's unwavering dedication to continuous improvement and excellence. It stands as a pinnacle of recognition within the ISO organization, positioning EQUATE as a pioneer in implementing a comprehensive laboratory management system.

This accreditation solidifies EQUATE's position as a global leader in the petrochemical industry and reaffirms its commitment to upholding the highest standards across all facets of its operations. It serves as a testament to the company's relentless pursuit of excellence and its pledge to offer unparalleled quality and service to customers worldwide.

EQUATE Strengthens Reliability with MOL Chemical Tanker Agreements.

Kuwait City, March 13, 2024 - EQUATE Group a global producer of petrochemicals and the world’s leading supplier of ethylene glycol, has announced the signing of global agreements with MOL Chemical Tanker, signaling a significant step in enhancing reliability and business continuity for its customers.

These global agreements solidify EQUATE's dedication to providing outstanding services and strengthening its position as an industry leader. By partnering with MOL Chemical Tanker, EQUATE is able to further expand its network and offer enhanced solutions to meet the evolving needs of its customers.

This partnership underscores EQUATE's ongoing efforts to deliver exceptional service, reliability, and innovation. Both companies share a commitment to excellence, safety, and sustainability, making this collaboration a natural fit to drive success and growth.

EQUATE looks forward to leveraging this partnership with MOL Chemical Tanker to enhance its capabilities, strengthen its network, and deliver continued value to customers worldwide.

EQUATE Demonstrates Commitment to Carbon Neutrality at PIC HSSE Week.

KUWAIT CITY, March 6, 2024  – EQUATE proudly participated in the recent PIC HSSE Week, where the focus was on the key theme, "Together Towards Carbon Neutrality." This dedicated event aligned perfectly with EQUATE's mission of shaping a responsible and sustainable energy future.

The main purpose of the event was to showcase projects and initiatives that make significant contributions to achieving Carbon Neutrality in Kuwait. One notable initiative highlighted at the event was carbon capture and its application, reflecting the theme of working together towards carbon neutrality.

In addition to EQUATE, other notable participants at the event included various K-companies, the Kuwait Environmental Public Authority (EPA), and several other companies with a keen interest in advancing sustainability efforts in the industry.

EQUATE's participation at the event emphasized not only its commitment to carbon neutrality but also showcased key projects and initiatives that were set in motion prior to the Paris Agreement. These projects aim to achieve the ambitious goals set forth in the event's theme.

The inauguration of the event was led by senior management from PIC, underscoring the importance of the initiatives being presented.

EQUATE remains dedicated to driving meaningful change and innovation in the pursuit of a more sustainable future. By actively participating in events like the PIC HSSE Week and highlighting projects that support carbon neutrality, EQUATE reaffirms its position as a leader in environmental, social, and governance (ESG) practices within the industry.

EQUATE Group Clinches His Highness the Amir’s Award for Distinguished Factories.

Kuwait, March 4, 2024 – EQUATE Group proudly announces its remarkable achievement of winning first place in the prestigious His Highness the Amir’s Award for Distinguished Factories. This accolade was secured in the sixth session, specifically in the first category, dedicated to large industrial facilities.

Naser Aldousari, President and CEO of EQUATE Group, expressed his appreciation and highlighted the significance of this award, stating: “This recognition is a demonstration of the government's initiatives aimed at elevating the industrial sector and fostering economic growth in alignment with the country's overarching development vision.

“This award plays a key role in promoting excellence in institutional performance, creating a culture of healthy competition among establishments, and driving adoption of the latest administrative and technical advancements.”

Aldousari added, “The award also serves as a catalyst for industrial establishments to assess and enhance their performance by benchmarking against global best practices. The core values and objectives of the award closely mirror those of EQUATE Group, which are rooted in driving continuous improvement and striving for operational excellence.”

This achievement marks a significant milestone for EQUATE Group and reinforces its position as a leader in the industrial sector. The company looks forward to building on this success and continuing to drive innovation, sustainability, and growth within the industry.

                                                            -ENDS-

ABOUT THE EQUATE GROUP

The EQUATE Group is a global producer of petrochemicals and the world’s leading supplier of ethylene glycol (EG). The EQUATE Group owns and operates industrial complexes in Kuwait, North America and Europe that annually produce over 6 million tons of ethylene glycol (EG), polyethylene (PE), polyethylene terephthalate (PET), styrene monomer (SM), paraxylene (PX), heavy aromatics (HA) and benzene (BZ). The EQUATE Group includes EQUATE Petrochemical Company (EQUATE), The Kuwait Olefins Company (TKOC), as well as a number of subsidiaries such as MEGlobal and Equipolymers. Their products are marketed throughout Asia, the Americas, Europe, the Middle East and Africa. The EQUATE Group’s shareholders are Petrochemical Industries Company (PIC), The Dow Chemical Company (Dow), Boubyan Petrochemical Company (BPC) and Kuwait Projects Company – KIPCO. Employing more than 1,500 people worldwide, the EQUATE Group is a leading enterprise that pursues sustainability wherever it operates through partnerships in fields that include the environment, economy and society. Visit www.equate.com

EQUATE Group Announces Year End 2023 Financial Results

KUWAIT, February 15, 2024 — The EQUATE Group, a global producer of petrochemicals and the world’s leading supplier of Ethylene Glycol, announced its full-year earnings for 2023 this week.

The EQUATE Group reported a total revenue of US$3,135 million in 2023, compared to US$3,947 million in 2022. The Group also reported a net income after tax of US$308 million and EBITDA of US$862 million, compared to US$611 million and US$1,217 million, respectively, for 2022.

While the industry continued to face challenging market conditions, that included macroeconomic uncertainty and cascading effects on global supply and demand, EQUATE performance remained resilient. Leveraging its regional and business strengths and initiatives, as well as its competitiveness, EQUATE capitalized on strong demand growth in higher-value regional markets.

Commenting on the results, Naser Aldousari, President & CEO of EQUATE Group, said: “In 2023, EQUATE Group delivered strong operational performance and completed major turnarounds and maintenance programs while mitigating the impact on performance, despite significant headwinds encountered by the industry across several fronts. EQUATE Group has emerged both stronger and more resilient.

“Our global reliability and the safety of our operations remained uncompromised, and the successful execution of major turnarounds and targeted capital spending contributed to our operational efficiencies, safety and the well-being of our teams, as well as our neighbouring communities and the environment.”

EQUATE Group’s results reflect their uncompromising focus on reliability, close collaboration with stakeholders, and their proactive actions in navigating challenges and market dynamics to deliver a long-term sustainable strong performance.

                                                            -ENDS-

ABOUT THE EQUATE GROUP

The EQUATE Group is a global producer of petrochemicals and the world’s leading supplier of ethylene glycol (EG). The EQUATE Group owns and operates industrial complexes in Kuwait, North America and Europe that annually produce over 6 million tons of ethylene, EG, polyethylene (PE), polyethylene terephthalate (PET), styrene monomer (SM), paraxylene (PX), heavy aromatics (HA) and benzene (BZ). The EQUATE Group includes EQUATE Petrochemical Company (EQUATE), The Kuwait Olefins Company (TKOC), as well as a number of subsidiaries such as MEGlobal and Equipolymers. Their products are marketed throughout Asia, the Americas, Europe, the Middle East and Africa. The EQUATE Group’s shareholders are Petrochemical Industries Company (PIC), The Dow Chemical Company (Dow), Boubyan Petrochemical Company (BPC) and Qurain Petrochemical Industries Company (QPIC). Employing more than 1,500 people worldwide, the EQUATE Group is a leading enterprise that pursues sustainability wherever it operates through partnerships in fields that include the environment, economy and society. Visit www.equate.com

Disclaimer

This earnings announcement (the Announcement) is for information only. The announcement is based on financial information of EQUATE Petrochemical Co. K.S.C.C. and The Kuwait Olefins Co. K.S.C.C. (together with their consolidated subsidiaries, the EQUATE Group) which is subject to change without notice and the accuracy thereof is not guaranteed. The information in the Announcement does not intend to contain all material information concerning the financial status of the EQUATE Group. We do not make any representation regarding, and assume no responsibility or liability (however arising and regardless of nomenclature) for, the accuracy or completeness of, or any errors or omissions in, any information contained in the Announcement.

Historical and current performance data are not necessarily indicative of future performance. Information contained in this Announcement may refer to forward-looking statements. The views in the Announcement are based on current assumptions which are subject to various risks and may change over time, as such we make no representations in respect of the correctness, accuracy, and/or completeness of such assumptions. Further, no assurance can be given that future events will occur, and/or that projections (if any) will be achieved. Past performance is not a reliable indication of future performance. Actual results may differ materially from those projected. The Announcement shall not be considered, or in any way construed, as an offering of securities.

EQUATE Drives Conversation at the 17th GPCA Annual Forum: Mobilizing Chemistry for Impactful Transformation

KUWAIT, December 7th, 2023 — The EQUATE Group, a global producer of petrochemicals and the world’s leading supplier of Ethylene Glycol, plays a pivotal role in the 17th GPCA Annual Forum, taking place from December 3rd to 6th, 2023, under the theme 'Mobilizing Chemistry for Impactful Transformation.’

EQUATE has 22 representatives attending the forum and will showcase its latest initiatives at the EQUATE exhibition stand. The Group is also one of the sponsors at GPCA.

In line with the overarching theme of the event, EQUATE's commitment to the future is demonstrated in its participation at the 2nd Youth Forum, facilitating the attendance of  younger members of EQUATE and students of Kuwait University, and sponsoring the GPCA Youth-Leader Debate, scheduled for December 4th, 2023. This open dialogue invites up-and-coming talent to challenge industry leaders on their commitment to sustainability and digitalization targets, and foster a dynamic exchange of ideas.

Naser Aldousari, President & CEO of EQUATE Group, who will address the GPCA’s Youth Forum as keynote speaker, said: “At EQUATE, we believe in the transformative power of dialogue and collaboration. As leaders today, we must engage with the next generation of engineers and industry experts who will lead our organizations in the future. Working together enables us to harness new ideas and innovations and combine them with the decades of experience our current leaders bring to the business. The 17th GPCA Annual Forum provides a valuable platform to enable this sharing of ideas and perspectives, catalyzing impactful change and continued success for our industry.”

Yousef AlGharabally, Global Procurement Director of EQUATE Group, will also share his expertise in a panel discussion on "Realizing opportunities for procurement collaboration in the GCC," providing perspectives on collaboration in the region.

EQUATE is a founding member of GPCA, and an active leader in driving excellence in the chemical industry.

                                                        

ما هو "لوريم إيبسوم" ؟

لوريم إيبسوم(Lorem Ipsum) هو ببساطة نص شكلي (بمعنى أن الغاية هي الشكل وليس المحتوى) ويُستخدم في صناعات المطابع ودور النشر

ما هو "لوريم إيبسوم

لوريم إيبسوم(Lorem Ipsum) هو ببساطة نص شكلي (بمعنى أن الغاية هي الشكل وليس المحتوى) ويُستخدم في صناعات المطابع ودور النشر. كان لوريم إيبسوم ولايزال المعيار للنص الشكلي منذ القرن الخامس عشر عندما قامت مطبعة مجهولة برص مجموعة من الأحرف بشكل عشوائي أخذتها من نص، لتكوّن كتيّب بمثابة دليل أو مرجع شكلي لهذه الأحرف. خمسة قرون من الزمن لم تقضي على هذا النص،

إيكويت تعترف بمجموعة جديدة من المتدربين كجزء من الاستثمار المستمر في المهنيين في المستقبل

لوريم إيبسوم(Lorem Ipsum) هو ببساطة نص شكلي (بمعنى أن الغاية هي الشكل وليس المحتوى) ويُستخدم في صناعات المطابع ودور النشر

منحت ايكويت ثلاث جوائز مميزة من الجمعية الأمريكية لمهندسي السلامة

هناك حقيقة مثبتة منذ زمن طويل وهي أن المحتوى المقروء لصفحة ما سيلهي القارئ عن التركيز على الشكل الخارجي للنص أو شكل توضع الفقرات في الصفحة التي يقرأها. ولذلك يتم