Shaheen Project: Large-Scale Facility Investment
Outstanding Leadership in Creative Brand Marketing and Systematic ESG Management
S-OIL CEO Anwar Al Hizazi has been honored with the 55th Korea Management Award, the nation’s most prestigious management accolade, hosted by the Korea Management Association (KMA).
Since 1969, the Korea Management Award has annually recognized business leaders who have driven Korea’s economic development, selecting recipients through a fair evaluation by experts from academia, industry, and economic organizations.
CEO Al Hizazi received high praise for job creation and revitalization of the local economy through the Shaheen Project, establishing a market leadership position through creative brand marketing, and implementing systematic ESG management.
Drawing on his extensive experience at Saudi Aramco, the world’s largest energy company, and his deep understanding of Asian cultures, CEO Al Hizazi has led S-OIL’s sustainable growth through forward-looking investments and innovative management. In addition, he announced Vision 2035, aiming for S-OIL to become “the most competitive, innovative, and trusted energy and chemical company” by 2025.
In particular, the Shaheen Project, which involves an investment of 9.258 trillion KRW?the largest in Korea’s petrochemical history?plans to secure a significant competitive edge in cost competitiveness and energy efficiency by introducing TC2C, a new technology being commercialized for the first time in the world.
The Shaheen Project is expected to employ up to 17,000 people per day, contributing to job creation and the revitalization of the local economy. With mechanical completion scheduled for the first half of next year, the Shaheen Project is anticipated to establish a competitive petrochemical industry cluster and enhance the fundamental competitiveness of Korea’s petrochemical sector.
CEO Al Hizazi has also set new records for annual market share in the retail light oil sector through customer-centric and creative marketing activities symbolized by the character “Gudoil.” Furthermore, S-OIL has been the only Asian refiner selected for 15 consecutive years for the globally renowned “DJSI World Index” due to its systematic ESG management for sustainable environment, society, and governance.
CEO Al Hizazi commented, “It is an honor to join the ranks of previous recipients who have left a significant mark on the remarkable growth of the Korean economy over the past decades. This award is the result of the tireless passion and efforts of S-OIL’s employees, who are creating the company’s success story.”
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