Risk factors, internal control and insurance
- •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 accounts for using the equity method (see chapter 1, section 1.5).
The diversity in the Group’s activities and the nature of the products it handles exposes it to risks that are regularly identified, updated and monitored as part of a rigorous management process aimed at mitigating these risks to the fullest extent possible, in accordance with applicable regulations, international standards and professional best practices.
Rubis has identified 15 risk factors related to its activities that it considers to be significant and specific (including risks related to Covid-19, which are the subject of special monitoring). These risks are divided into four categories (section 3.1).
For many years the Group has also implemented internal control procedures (section 3.2) that contribute to controlling its activities and to the effectiveness of its risk management policy.
Finally, regarding residual risks that cannot be completely eliminated, the Group ensures that they are covered by appropriate insurance policies whenever possible (section 3.3).