Friday , January 19 2018

Kuwait’s oil projects overseas bring high, safe revenues: KPC

KPI focuses on high-growth markets in Asia: Al-Adsani

Kuwaiti delegation visits ‘Idemitsu Q8 Petroleum Co Ltd’

KUWAIT CITY, Nov 30, (Agencies): Kuwait Petroleum Corporation (KPC)’s CEO Nizar Al-Adsani has said that the Kuwaiti oil projects overseas bring in rewarding and safe revenues for the state, in line with the KPC strategy. Al-Adsani made the statement Thursday during a meeting with Petrovietnam’s chairman during a visit to the Vietnamese capital of Hanoi, the Kuwait Petroleum International (KPI), a KPC affiliate, added in a press statement.

The KPC top official is inspecting the latest developments of the joint Nghi Son Refinery project. According to the release, Al-Adsani lauded KPI’s efforts, vital projects and active partnerships serving the strategy of KPC and its subsidiaries. He said that KPI focuses on highgrowth markets in Asia, appreciating the company’s staff for their tireless efforts to expand the refining capacity.

For his part, KPI’s CEO Bakheet Al- Rashidi reiterated the company’s keenness on enforcing the local ecological laws in the construction, operating and management of the Nghi Son Refinery. He commended efforts by the Petrovietnam’s chairman and the official agencies for streamlining measures related to the project.

A KPC’s high-profile delegation is on an inspection visit to the refinery project, including a host of the corporation’s board of directors and KPI DCEO for Asian operations Ghanim Al Otaibi. They will also inspect work at the first fuel service station of the “Idemitsu Q8 Petroleum Co Ltd.” Nghi Son Refinery will be among the largest in Asia, with a capacity of 200,000 barrels of Kuwaiti crude daily.

It is expected to be commercially operated by mid- 2018. The project is located in the Nghi Son region, about 200 kms south of Hanoi. KPI and Japan’s Idemitsu Kosan each owns 35.1 percent of the Idemitsu Q8 Petroleum Co Ltd, while Petrovietnam (the Vietnamese Government) owns a share of 25.1 peremnt. The rest 4.1 percent is owned by Japan’s Mitsui Chemicals.

Also: KUWAIT CITY: Managing Director for Human Resources and Training at Kuwait Petroleum Corporation (KPC) Badr Al-Sharad issued a circular on the promotion of Sawsan Noah Brusly as head of the Personnel Development Team, reports Al-Rai daily quoting sources. Sources disclosed the circular includes the promotion of Latifa Ali Al- Sulaiti as head of Compensations Team and Reem Al-Roomi as head of Social Insurance and Insurance Funds

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