We are sustainable
Energy sources, including petroleum products like diesel, petrol, JET A1, and ethanol, are not entirely clean and pose environmental risks. These risks encompass various areas such as freshwater, public health, and local effects. Petroleum products are classified as hazardous chemicals and can cause environmental pollution during transportation, storage, and distribution. Oil spills can harm surface-dwelling animals and birds by poisoning or suffocation, and they can also have long-lasting effects on aquatic life. Efforts to address these risks include pollution prevention measures driven by government regulations and economic considerations, given the volatility of the energy market. NOIC manages these risks in accordance with the ISO 31000 risk management standard, involving processes like risk identification, assessment, treatment, monitoring, and reporting.
We manage the risks
Risk management is a structured process involving multi-functional teams. It begins with identifying events that can negatively (risks) or positively (opportunities) affect business objectives. Next, risks are assessed to determine their impact severity. NOIC continuosly develops and treatment strategies to manage these risks, in an iterative process until residual risk aligns with the business’s risk appetite. Measures to manage environmental damage include underground leak detection for pipelines, non-destructive testing for storage tanks, and spillage management through secondary treatment technologies.
NOIC is in the business of pipeline transportation of petroleum products as well as storage and handling in the Company’s depots.