Risk factors, internal control and insurance
The Group organizes its activities around two divisions:
|•||the retail & marketing business (distribution of petroleum products); and|
|•||the support & services business (trading-supply, shipping and refining).|
Rubis SCA also owns 55% of the securities of the Rubis Terminal joint venture, which it controls jointly with its partner and which it consolidates using the equity method (see chapter 1, section 1.5).
The diversity of the Group’s activities and the nature of the products handled expose it to risks that are regularly identified, updated and monitored as part of a rigorous management process aimed at mitigating them as far as possible, in accordance with applicable regulations, international standards and best professional practice.
Rubis has identified 14 risk factors related to its activities, considered to be significant and specific (including risks related to Covid-19, which are subject to special monitoring), divided into four categories (section 3.1).
In addition, the Group has implemented for many years internal control procedures (section 3.2) that contribute to the control of its activities and the effectiveness of its risk management policy.
Finally, for residual risks that cannot be completely eliminated, the Group ensures that they are covered by appropriate insurance policies, whenever this is possible (section 3.3).
|RUBIS – 2020 UNIVERSAL REGISTRATION DOCUMENT||52|