Page 6 - BB Energy Brochure

Chairman’s Message

folio by considering investment in other commodities.
In the Americas, our trading volumes have signifi-
cantly thrived, scoring 55% of the Group’s overall traded
volumes.

Meanwhile, global action on climate change remains
crucially important. The world is still treading on an un-
sustainable path and has yet to move steadily towards a
net-zero society. Doing so will require building a global
energy system capable of delivering affordable, secure
and increasingly clean energy. Establishing such a sus-
tainable ecosystem will require collaboration between
governments, businesses, academia and civil communi-
ties. Achieving all of that will be complex, but purposeful
companies need to get involved through their high-per-
forming business capacity to innovate and invest in re-
newables. At BB Energy, this is exactly what we do.

Our Group dutifully guards its role in transitioning
energy towards a low carbon future. In 2021, we estab-
lished a Carbon Trading Desk by hiring experienced pro-
Bahaeddine Bassatne fessionals and are significantly growing these activities.
Furthermore, we have acquired Solar Century Africa,
evaluating over 300 MW of projects and currently have a
As I was reflecting on this note, it crossed my mind pipeline of over 2 GW and have reached a financial close
that in my opening message of last year, I asked: What for Balama Graphite Mine in Mozambique.
surprises will 2022 bring to the world? Our hopes were
to keep viruses at bay, bring back normality and good Being a successful business goes together with taking
health, and slow down climate change. However, unfor- care of our people and supporting our society and the
tunately, we are now living in uncertain times because local communities where we operate. This was reflected
of the turmoil of the Russia/Ukraine war, which resulted by establishing “BB Energy Foundation” back in 2021,
in loss of life, record increase in oil and gas prices, global through which we contribute towards key social initia-
energy and commodity shortages, as well as troubling tives and deliver meaningful impacts such as education
humanitarian crisis. and health. For instance, we recently contributed to St
Paul’s Cathedral “Remember Me”, a memorial project
I believe BB Energy’s strategy gets the balance right. We for all those who have died as a result of the pandemic
are keeping our positive determination to maintain safe with special recognition given to NHS and social

and secure supply of energy on which societies depend, care workers. BB Energy is working with ‘Right to
while continuing to increase our footprint in renewables Play’ - an interna-tional non-profit organisation that
and reducing carbon emissions. I am extremely proud of empowers vulnera-ble children to overcome the effects
our robust cadre of resolute and loyal forward-thinking of war, poverty and disease - to establish a project in
professional team, who have been adaptable and agile Rwanda. In addition, the Group has been a long-time
in making the necessary adjustments to overcome the supporter of the arts such as The Royal Opera House.
challenges and ensuring that we persist to maintain our
high performance in 2021 successfully. I am therefore I would like to take this opportunity to extend our sincere
pleased to report that we have increased our trading thanks and gratitude to our long-term Partners for their
volumes by 24% compared to 2020 fiscal year, reaching continued confidence in BB Energy and its leadership
a total of 41 million tons and a turnover of US$21 billion team; our mutual trust and ethical relationship has
dollars. allowed us to continue increasing the financing lines and
expanding our scopes.
Throughout 2021, BB Energy continued to pursue its
growth strategy in trading across Africa, Latin America To keep witnessing year-on-year, the key accomplish-
and Asia Pacific, including China. We have also expanded ments, growth, and positive transformational journey of
our investment in downstream by opening 10 new retail BB Energy from a family business to an independent, re-
stations in Morocco under our brand “Société Pétrolière”. spected energy trading organisation is a heart-warming
In addition, we are diversifying our commodities port- reward.

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