JEDDAH: Amin Nasser, the president and CEO of Saudi Aramco, is to receive the prestigious Kavaler Award for his work in the petrochemical industry. He is the first recipient outside of Europe and North America.
The award, which will be presented during a virtual ceremony this year, recognizes outstanding achievement in petrochemicals. Nasser’s honor comes during a year in which Aramco completed its milestone merger with Saudi Basic Industries Corporation (SABIC) to create a new force in the multibillion-dollar global industry.
“Nasser has made huge advances in petrochemicals with the $69bn acquisition of SABIC, the construction of mega-projects worldwide and the ongoing development of crude-to-oil technology,” said Joseph Chang, global editor of the Independent Commodity Intelligence Services (ICIS) Chemical Business website.
The recipient of the Kavaler Award is chosen by a peer group of executives in the chemicals industry, selected by the consultancy ICIS, and the Chemist’s Club, a professional executive organization. The decision takes into account profitability and commitment to environmental, social and governance issues, as well as innovation, mergers and acquisition activity.
“The level of activity for Aramco is unprecedented, for any company,” said Chang.
“Its global ambitions and investments in petrochemicals will create waves in the industry for years to come.”
The Kavaler is the second major award Nasser will receive this year. In January he was named Energy Executive of the Year by the consultancy Energy Intelligence.