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Saudi Industrial Export Co. announces signing a Memorandum of Understanding with Ministry of Energy Oil Sustainability Program
| Element List | Explanation |
|---|---|
| Introduction | Saudi Industrial Export Co. announces signing MOU with Ministry of Energy Oil Sustainability Program |
| Memorandum Signing Date | 2023-06-19 Corresponding to 1444-12-01 |
| Counterparty | Ministry of Energy Oil Sustainability Program |
| Memorandum Subject | - Enable the two parties to harmonize and implement joint plans, initiatives, and activities in the fields of sustaining the demand of oil. - Harmonizing strategic directions, developing an action plan on specific initiatives, and implementing them within the limits of the targeted geographical scope of the two parties. |
| Memorandum Duration | 3 years |
| Related Parties | None |
| Financial Impact | None |
| Additional Information | Sustainability Program, a Saudi governmental Program, established by High Order No. (21081) dated 29/03/1441 A.H. Oil Sustainability Program established with the participation of (17) agencies including government and non-government agencies under the umbrella of the Supreme Committee for Hydrocarbon Materials. OSP’s Objectives are to raising the economic and environmental efficiency of oil and gas and focusing on innovation and environmental principals, promoting integration between the petroleum and petrochemical industries, sustain and improve the demand for hydrocarbon resources, and enable and promote the use of polymer-based materials as well as support the localization of the associated supply chain in the Kingdom of Saudi Arabia. OSP has identified and prioritized potential opportunities in the transportation, utilities, and materials sectors promoting sustainability, development, and innovation. |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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