For the past 50 years, IPT has worked closely with community partners and industry leaders in Lebanon and abroad, gained a wealth of experience and became one of the leaders itself in the Lebanese market with a network of more than 250 service stations across the country.
Letter to Stakeholders - Looking into 2023
As a company established during the Lebanese war in the seventies and has been thriving for over forty years, IPT is no stranger to turbulent times. As Lebanon deals with its economic and social crisis, the world is facing the effects of Covid-19 pandemic, severe weather, trade disruptions, a Russian invasion of Ukraine, and the list goes on. Amidst all of that, we have to focus on what matters most: making sure we service our stakeholders and provide energy.
Throughout the difficult times that Lebanon has been undergoing since 2019, IPT has proved itself as a leader in its industry, ensuring continuity and resilience in servicing its customers. We have adapted and re-adapted in the aim of staying relevant and reliable in supporting our community.
In our most recent venture in the UAE, we are upholding the same values and implementing them in our business. We strive in adversity and turn challenges into opportunities and successes. While the rules of business and the challenges faced in Lebanon and outside are different, IPT's expertise and perseverance are uniform across geographies.
Our core value is built on delivering value to our customers, invest in our employees, and support the community that we operate in. In this respect, we collaborated with the Ministry of Tourism on its latest summer campaign “Ahla Bhal Talleh” to support social activities and encourage tourism in Lebanon, and we took part of Extreme Energy - Chabrouh Dam event to encourage the development of our dams for social and active purposes. On a school level, IPT participated in The National World Robot Olympiad Competition, giving students an opportunity to grow their innovative skills at a global level, and we organized a drawing exhibition to showcase the work of young generation re-imagining the Gas Station of the Future. Internally, the IPT team is always up to date on the latest safety measures of firefighting, first aid & evacuation, the latest ISO standards, and recycling awareness. while keeping the team spirit alive by celebrating Mother's and Father's day and Labor's day.
When it comes to the energy transition, sustainability is the buzzword of our times and decarbonization is here to stay. This topic has been a core value since 2012, the year we launched IPT Energy Center, IPTEC, our research and developmental arm on sustainability and the green transition. Despite the headwinds we are faced with, we continue to have several projects in the pipeline. IPT will launch with local partners a nation-wide network of EV chargers across Lebanon, as well as continue the deployment of solar systems at most fuel stations to reduce the carbon footprint. We are now offering biodiesel in the UAE to help our customers reach their carbon cutting targets, and working towards setting up a production plant in Lebanon. We are working on establishing waste sorting facilities at our stations for the community, we are partnering with NGOs to donate proceeds of our internal recycling programs, and we are launching campaigns to create awareness on these topics. IPTEC also took part of several events, most notably Berytech's "Green Innovation Days: Towards A Circular Future" event in the Energy/Transport Sector.
Looking ahead, we anticipate ongoing disruptions to Lebanon and the world as we know it, especially in the energy industry. We remain optimistic that we will continue to find new ways forward. With our team and our strong partnerships with our stakeholders, we look forward to growing and evolving as leaders of the energy markets.
Michel Issa
Chairman