Page 6 - BB Energy Brochure
P. 6

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 care
          and secure supply of energy on which societies depend,   workers. In education, we have founded “Department
          while continuing to increase our footprint in renewables   of Chemical Engineering and Advanced Energy” at the
          and reducing carbon emissions. I am extremely proud of   American  University  of Beirut  (AUB), where students
          our robust cadre of resolute and loyal forward-thinking   learn to apply chemistry, physics, biology and math-
          professional team, who have been adaptable and agile   ematics to the process of converting raw materials of
          in making the necessary adjustments to overcome the   chemicals into valuable products. We are an active
          challenges and ensuring that we persist to maintain our   member of the British Lebanese Association where we
          high performance in 2021 successfully. I am therefore   have donated three-years’ scholarship for a PhD student;
          pleased to report that we have increased our trading   and have sponsored MBA students from the Middle East
          volumes by 24% compared to 2020 fiscal year, reaching   at Wharton School of Business and Babson School.
          a total of 41 million tons and a turnover of US$21 billion   BB Energy is working with ‘Right to Play’ - an interna-
          dollars.                                             tional non-profit organisation that empowers vulnera-
                                                               ble children to overcome the effects of war, poverty and
          Throughout 2021, BB Energy continued to pursue its   disease - to establish a project in Rwanda. In addition,
          growth strategy in trading across Africa, Latin America   the Group has been a long-time supporter of the arts
          and Asia Pacific, including China. We have also expanded   such as The Royal Opera House.
          our investment in downstream by opening 10 new retail
          stations in Morocco under our brand “Société Pétrolière”.   I would like to take this opportunity to extend our sincere
          In addition, we are diversifying our commodities port-  thanks and gratitude to our long-term Partners for their

                                                            4
   1   2   3   4   5   6   7   8   9   10   11