Maurig Petroleum Incorporated is a multinational oil and gas trading company. With our globally located affiliated refineries, we strive to meet local demands of energy products in the countries we deliver services to. We are expanding and growing fast with current working presence in Africa, Middle East and Europe.
Our consultancy team of seasoned and experienced personnel offers a wide range of Engineering, Procurement and Construction program management services including connecting establishments to right EPC contractors; collaborating with establishments to access authentic EPC projects funding sources and assisting clients in locating and purchasing of best technology and genuine materials.
Corporate Governance
Good corporate governance is a prerequisite for a sound and sustainable company, and is built on openness and equal treatment of all investors. Our governing structures and controls help ensure that we run our business in a justifiable and profitable manner to the benefit of our people, investors, partners, customers and society. We are an international business company with a governance structure based on RAS AL Khaimah international corporate centre business companies regulations of 2016 in the United Arab Emirates. Our objective is to engage in international exploration, production, transportation, refining and marketing of petroleum and petroleum bi- products, and other forms of energy products, as well as engage in Consultancy services and other business activities not prohibited under international laws or laws of the countries we do business.
The Board of Directors
The board of directors are responsible for the overall management of our group, and for supervising its activities in general as outlined in the board’s rules of procedure. The board handles matters of major importance or of an extra-ordinary nature. However, it may require that any matter be referred to it. The board also appoints Maurig Group president and chief executive officer (CEO), and establishes the working instructions, powers of attorney, and terms and conditions of employment for the chief executive.
The board has three sub-committees viz;-
Audit committee: The audit committee’s role is to support the board in exercising its management and monitoring responsibilities, particularly in respect of accounting and financial reporting, and to ensure that our group has an independent and effective external and internal audit system.
HSSE and ethics committee: The audit committee’s role is to assist the board in its supervision of the company’s health, safety, Security and environment (HSSE), ethics policies, systems and principles of the company. It also involves reviews of new HSSE standards and recommendations for adoption of appropriate policies that enforces HSSE best practices in the industry.
Work Compensation Committee: The work compensation committee’s role is to assist the board in its work on the terms and conditions of employment for the chief executive as well as the principles for top management remuneration.