THIS SITE USES COOKIES

This website uses first and third party cookies (and equivalent technologies) to improve your experience on our site. Necessary cookies ensure that this site functions properly. We also use cookies to analyze how our site performs, understand your preferences and deliver tailored commercial content on this and other sites. For more information about which cookies we use, the information collected and SABIC’s purposes, please see our Cookie Notice. By clicking ‘Accept Cookies’ you agree to the use of such cookies. Alternatively you can manage which cookies are placed on your device by selecting Manage Cookies

Home > Reports > Annual Report 2020 > Governance > Related Party Transactions

The company assumes marketing and sales of affiliates’ products in various local, regional and global markets through marketing agreements signed with those companies. The company also provides its affiliates with procurement services, involving transportation, warehouse services and delivery of materials related to spare parts through the SABIC Shared Services function. The company, represented by our Shared Services function, provides accounting, human resources, information technology, and engineering services to affiliates under an agreement signed with them.

SABIC’s Legal Affairs, Enterprise Risk Management and Internal Audit departments are designed to safeguard the interests of all SABIC stakeholders, including customers, employees and shareholders, and to manage SABIC’s risks in a way that promotes our 2025 goal of becoming the world’s preferred leader in chemicals.

The SABIC Legal Department, protects the business against legal risks, through legal advice and periodic review of contracts, policies, rules and regulations to be in line with the relevant rules and regulations issued in the jurisdictions where we operate.

Enterprise Risk Management focuses on ensuring a risk mindful culture, addressing key business interruption risks, ensuring a comprehensive consolidated insurance program and improving our data and process governance structure.

Internal Audit performs operational review of all aspects of activities in sectors and departments of SABIC and affiliates inside and outside Saudi Arabia. In addition, our Environment, Health, Safety and Security Department is responsible for supporting and protecting the Company and its affiliates in the field of environment, health, safety and security, as well as preparing policies and procedures to comply with relevant laws and regulations.

Compare up to 4 grades

You already have 4 products for comparison

Compare items