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DHAHRAN, Saudi Arabia, March 20, 2023 /PRNewswire/ -- Aramco, one of the world's leading integrated energy and chemicals companies, and international contract logistics provider DHL Supply Chain have announced the signing of a shareholders for a new Procurement and Logistics Center in Saudi Arabia, in order to improve the efficiency and sustainability of the supply chain. It will be the first center of its kind in the region that serves clients from the industrial, energy, chemical and petrochemical sectors.
The joint venture aims to be operational by 2025 and to provide comprehensive and reliable procurement and supply chain services to companies in the industrial, energy, chemical and petrochemical sectors. The joint venture will initially focus on Saudi Arabia, with aspirations to expand throughout the MENA region.
Aramco's preeminent industrial and energy supply chain ecosystem and DHL's world-class logistics expertise are expected to enable the joint venture to add value in meeting customers' supply chain purchasing needs. supply, warehouse and inventory management, transport and reverse logistics.
The goal is for the joint venture to achieve industry best practices in procurement and supply chain management, as well as the implementation of more sustainable supply chain, transportation and warehousing solutions.
Amin H. Nasser, President and CEO of Aramco, said, "This partnership brings together two industry leaders, each with a long history. By combining Aramco's unique energy, chemical and industrial supply chain ecosystem With DHL's world-class transportation and logistics expertise, we intend the Procurement and Logistics Hub joint venture to serve as a single hub for customers' supply chain needs.We anticipate it will not only drive the economic objectives of our two companies , but it will also accelerate growth in Saudi Arabia and the MENA region."
Oscar de Bok, CEO of DHL Supply Chain, commented: "We are very pleased to announce the signing of this agreement with Aramco. Through it, DHL intends to further its business operations and logistics networks throughout Saudi Arabia and the MENA region, while expanding our industrial footprint. By working in partnership with Aramco, our goal is to provide regional and multinational companies in these sectors with access to a strong international logistics network, fostering positive economic growth while promoting sustainable activities."
Using cutting-edge technologies, the joint venture is expected to enable companies to reduce costs, maximize efficiencies and take advantage of digitalization. It represents the culmination of several years of cooperation between the two companies, and aims to transform inventory and logistics management, expand business, create employment and enable economic diversification in Saudi Arabia and the MENA region.
Creation of the joint venture is subject to regulatory approvals and other customary closing conditions.
Aramco is a global integrated energy and chemicals company. We are moved by the conviction that energy is an opportunity. From producing approximately one in eight barrels of the world's oil supply to developing new energy technologies, our global team is dedicated to creating impact in everything we do. We focus on making our resources more reliable, more sustainable, and more useful. This helps promote long-term stability and growth around the world. www.aramco.com
DHL is the world's leading brand in the logistics sector. Our DHL divisions offer an unrivaled portfolio of logistics services ranging from domestic and international package delivery, e-commerce shipping and fulfillment solutions, international express, road, air and ocean transportation to supply chain management. industrial Supply. With nearly 395,000 employees in more than 220 countries and territories around the world, DHL connects people and businesses securely and reliably, enabling sustainable trade flows globally. With specialized solutions for growth markets and industries, including technology, life sciences and healthcare, engineering, manufacturing and energy, automotive and retail, DHL is decisively positioned as "the logistics company for the world".
DHL is part of the Deutsche Post DHL Group. The group generated revenue of more than €94 billion in 2022. Through sustainable business practices and a commitment to society and the environment, the group makes a positive contribution to the world. Deutsche Post DHL Group aims to achieve net zero emissions logistics by 2050.
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The press release contains forward-looking statements. All statements that do not refer to current or historical facts included in the press release are forward-looking statements. Forward-looking statements refer to the Company's current expectations and forecasts regarding its capital expenditures and investments, major projects, exploration and production results, including those relative to its peers, and growth in the exploration and production segments. production and chemicals. These statements may include, without limitation, any statement preceded, followed by, or including words such as "target," "believe," "expect," "aim," "intend," "may," "anticipate," "estimate," "plan", "project", "will", "may have", "probably", "should", "would", "might", "continue", "future" and other words and terms of similar meaning or their negative meaning. Such forward-looking statements involve known and unknown risks, uncertainties and other factors beyond the control of the company that could cause the actual results, performance or achievements of the company to differ materially from the results, performance or achievements anticipated, expressed or implicit in such forecasts, including the following factors: international supply and demand for crude oil and the prices at which Aramco sells crude oil; the impact of COVID-19 on business and economic conditions and the supply and demand of crude oil, gas, and refined products and petrochemicals; adverse economic or political events that could affect the results of the Company's operations; the competitive pressures that the Company faces; any significant deviation or change in existing economic and operating conditions that could affect the estimated amount and value of proven reserves; operational risks and hazards in the oil and gas, refining, and petrochemical industries; the cyclical nature of the oil and gas, refining, and petrochemical industries; weather conditions; political and social instability and unrest and actual or potential armed conflict in the regions in which Aramco operates and in other areas; losses from risks related to underinsurance; the company's ability to meet current and future projects; disputes to which the company is or may be subject; the company's ability to benefit from recent and future acquisitions, including SABIC; risks related to international operations, including trade sanctions and restrictions, anti-bribery and corruption laws, and other laws and regulations; risks related to oil, gas, environment, health and safety and other regulations that affect the industries in which Aramco operates; the company's dependence on its senior management and key personnel; the reliability and security of the company's computer systems; the concerns and impacts of climate change; risks related to government-directed projects and other government requirements, including those related to the maximum level of crude oil production and the MSC target set by the government; fluctuations in interest rates and currency exchange rates; and other risks and uncertainties that could cause actual results to differ from forward-looking statements in this press release, as set forth in the Company's latest periodic reports filed with the Tadawul. For more information on potential risks and uncertainties that could cause actual results to differ from anticipated results, please refer to the company's latest periodic reports filed with the Tadawul. These forecasts are based on numerous assumptions regarding the Company's current and future business strategies and the environment in which it will operate in the future. The information contained in the press release, including but not limited to forward-looking statements, applies only as of the date of this release and is not intended to provide guarantees of future results. The company expressly disclaims any obligation or commitment to disseminate any updates or revisions to the press release, including financial data or forward-looking statements, whether as a result of new information, future events or otherwise, unless required by the applicable law or regulation. No person should construe the press release as financial, tax or investment advice. Undue reliance should not be placed on forward-looking statements.
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