Marwan Chedid

 Petrofac give reported better-than-expected core earnings on Friday and said chief executive Ayman Asfari would resume full duties with immediate effect. The company said it had concluded that restrictions imposed on Asfari in May 2018 were no longer appropriate. Britain’s Serious Fraud Office (SFO) began an investigation in May into the activities of Petrofac and its units in connection with a probe into Monaco-based Unaoil on suspected bribery, corruption and money laundering. Last month, the company said its top management, including chairman and executive directors, would be interviewed by the SFO. “We expect the market to take positively the resumption of duties from the CEO ... The market may perceive this as reflecting positively on the SFO investigation outcome,” Morgan Stanley analyst Robert Pulleyn said in a note. Petrofac also said chief operating officer Marwan Chedid had stepped down and would act in an advisory capacity for a transitional period...

Marwan Chedid - Oman plans to more than double the output of its oil refineries by 2019 by upgrading its plants and building a new one. The move is expected to increase the country’s refining capacity in  2019, enabling the country to boost exports and compete with OPEC countries for a larger chunk of the global market. But Oman is not a member of the OPEC agreement, and its two current refineries produce 222,000 bbl/day. More of that is absorbed by Asia, while China buys in a lot of medium sour crude called Oman blend. Marwan Chedid make the plan for Oman plans to expand its state-owned Sohar plant to boost refining capacity by 75% and  completed, the plant will be able to process heavier crude oil for export.

Oil is the most important in our whole life without our oil life is difficult. It is one of the most important commodities in the world and life, playing an important part in some of the biggest industries like chemicals, transport, power, Petrofac etc.  These all need oil in big scale. The energy density easy availability have made mankind almost completely dependent on oil for most of his need.  Almost all of the world’s cars, bus, train run on petrol /gasoline which is derived from crude oil from the oil refinery. Despite new evidence that burning oil leads to massive pollution & greenhouse warming nothing had been done to prevent its usage growth.  In fact each year billions of barrels of oil are burned in the whole world to power cars, ships, trains etc. Some countries use oil to power electricity as well though that has been decreasing as oil prices have increased substantially in recent years and before. The massive oil dependency has...

Marwan Chedid is an Executive Director of Petrofac Ltd. Marwan Chedid joined Petrofac in 1992 as a senior Manager. Marwan Chedid was a key member of the founding team and during his tenure. Petrofac achieved phenomenal growth and saw the company go public within 14 years and reach a market capitalization of six Billion USD, a total number of 18,000 employees and with 125 branches and offices around the world.

Our Annual Report on Remuneration This summarises the remuneration outcomes for 2017 and explains how we intend to apply the Remuneration Policy for 2018. As a Jersey-incorporated company, Petrofac is not subject to the UK remuneration reporting regulations which apply to UK incorporated companies. Nevertheless, the Committee recognises the importance of effective corporate governance and is firmly committed to best practice.  We therefore propose to continue to operate in line with the UK reporting regulations and, accordingly, will be submitting our Annual Report on Remuneration for an advisory shareholder vote at the 2018 Annual General Meeting (AGM).

Marwan Chedid Dear shareholder On behalf of the Board, and as your new Committee Chairman, I am pleased to present the Directors’ Remuneration Report for the year ended 31 December 2018. Firstly, I would like to express sincere thanks to my predecessor, Thomas Thune Andersen, for his work with the Committee over the last seven years. He led the Committee through a number of regulatory changes during his tenure and I now look forward to taking this position forward over the coming years.  Following Thomas’ departure at the end of 2018, the Committee is pleased to welcome Sara Akbar, who joined the Board in January 2019, to the Committee as a member. Sara, who until recently was the Chief Executive Officer of Kuwait Energy KSC, has a wealth of industry experience and we look forward to working with her. 

  Biography Born on January 2, 1961 in Lebanon, Marwan Chedid earned his BE degree in Mechanical Engineering from the American University of Beirut in 1982. After graduation, he worked for Kettaneh Trading Co. in Lebanon, as a Workshop Engineer, responsible for air compressors and pneumatic equipment. In 1984, he accepted the position of Project Manager for Construction at Consolidated Contractors Co. where he worked until 1992. Mr. Chedid joined Petrofac’s Engineering and Construction division as a project manager when the division was first established in Sharjah in 1992.                                                              He was subsequently promoted to regional director at the same time as becoming a member of the divisional board. In 2007, he was appointed Chief Operating Officer of Petrofac International,...

  Marwan Chedid                                                             Former Group Chief Operating Officer at Petrofac Limited Marwan Chedid's Executive Work History PastTo view Marwan Chedid's complete executive work history. Marwan Chedid's Biography Experience Joined Petrofac in 1992 when the business was first established in Sharjah. Appointed as COO of the Engineering & Construction International business in 2007 and became MD of Engineering & Construction Ventures in 2009. Appointed as chief executive of ECOM in 2012 and as Group Chief Operating Officer from 1 January 2016. External appointments Member of the board of trustees of the University of Balamand, Lebanon.