World’s Largest Energy Trading Firms with Total Annual Turnover of US$ 500 Billion Lead International Selection Committee for New Silk Road CEO Awards 2019
Aramco Trading, Vitol, Mercuria, Uniper join Port of Fujairah, China Energy Security, ENOC and S&P Global Platts in Selecting Winners in the 4 Categories: Trading–Shipping–Storage-Ports
Fujairah - UAE, June 16th, 2019 – Aramco Trading, Vitol, Mercuria and Uniper Global Commodities SE, four of the world’s largest energy trading firms with a total annual turnover of close to $500 billion, joined S&P Global Platts, Port of Fujairah, ENOC and the China Energy Security Institute on the International Selection Committee to choose the winners of the 2019 New Silk Road CEO of the Year Awards.
This prestigious annual Awards classification was inaugurated in 2017 to recognize the industry leaders who are pioneering the connectivity of the international Energy industry across the New Silk Road from Asia to the Middle East. Much of this economic integration from the Arabian Peninsula to the massive consuming population centers of Asia is built on a foundation of physical energy and hence the New Silk Road CEO of the Year Awards are celebrated in four categories: Trading – Refining – Ports – Storage, and are presented at a gala dinner hosted in the global energy hub of Fujairah.
“This year’s shortlist of top-10 nominees in each category reviewed by the Selection Committee was outstanding, and represented the top business leaders that are building the energy corridor across Asia and the Middle East,” said Ibrahim Al-Buainain, President & CEO of Aramco Trading, the wholly owned subsidiary of the world’s largest oil company which has just opened the first trading desk in the Emirate. “The four winners that eventually surfaced to the top in each category did so by very tight margins, such was the level of talent under consideration,” said Al-Buainain, who chaired the 2019 Selection Committee.
The New Silk Road CEO of the Year Awards, founded in partnership with the Port of Fujairah, strives to ensure that the worthiest nominees from around the world are identified each year for their outstanding record of accomplishment in their category. To achieve this, a group of renowned industry leaders are invited annually to join the International Selection Committee to independently nominate and evaluate a shortlist of candidates, and this year that review board also included Mr. Keith Martin, CEO of Uniper Global Commodities SE, and Mr. Marco Dunand, CEO, Mercuria Energy Group.
The Awards are produced by Gulf Intelligence Under the Patronage of H.H. Hamad bin Mohammad Al-Sharqi, Member of the Supreme Council and Ruler of Fujairah. The 2019 Winners will be presented their Awards at a Gala Dinner event held in Fujairah, UAE in September 2019 on the eve of the 9th Gulf Intelligence Energy Markets Forum.
“The rise of the Arab world, China and India are part of the same story, once historic trading partners, and that is what these Awards are commemorating,” said Capt. Mousa Murad, Managing Director, Port of Fujairah, who was also one of the members of this year’s Selection Committee. “It isn’t a coincidence that Arab traders have returned to Asia at the same time that China is leading a wave of nations from the Far East to expand their share of the global economy,” said the head of the biggest bunker port East of Suez after Singapore.
China’s Belt Road Initiative is set to be the world’s largest integrated platform for economic cooperation, trade and financing collaboration. Reaching more than 60 countries and 4.4 billion people with a combined GDP of $21 trillion, the BRI provides the potential to redraw the global energy map through investment and development of energy infrastructure and the reemergence of global trade routes.
Mr. Martin Fraenkel, President, S&P Global Platts, the world’s largest oil price reporting agency, joined the International Selection Committee for a third year, as did Mr. Victor Gao, Chairman, China Energy Security Institute. The diverse group of industry leaders on the board was bolstered by those with deep experience in energy Trading, Shipping, Storage and Refining operating across Asia, with Mr. Yusr Sultan Al Junaidy, Managing Director – Horizon Terminals, ENOC Group, and Mr. Mike Muller, Director - Oil Business Development, Vitol.