The Company is engaged to construct, own and operate refineries of lubricating oils and to purchase, sell, transport, market, import and export lubricating oils, additives, lubricating oil blending stocks, byproducts and other related petroleum products. The Company operates in Jeddah and Yanbu region of Saudi Arabia and has an operation in Al-Hamriyah in the United Arab Emirates. For management purposes, the Company is organized as a single business unit aligned with its principal business activity.
The Company has determined that the Company’s Board of Directors and the President & CEO, are the CODM and are responsible for making decisions regarding the allocation of resources and assessment of performance of the Company. The CODM monitors the operating results of the Company as a whole for the purpose of making decisions about resource allocation and performance assessment of the Company’s business. The CODM evaluates the performance on the basis of revenues, total operating expenses, earnings before interest, tax, depreciation and amortisation (EBITDA), net income and return on equity.
Geographical information of the Company’s revenues is disclosed in Note 25. The Company’s property, plant and equipment assets are located in Kingdom of Saudi Arabia. Saudi Aramco is the Company’s major customer exceeding 10% revenue threshold. See Note 25.