Saturday , October 21 2017

Tag Archives: KPC

Lack of transparency in KPC embarrassing oil minister

Kuwait Petroleum Corporation (KPC) is the only Kuwaiti oil company that publishes its financial results, and profit and loss accounts globally on an annual basis. None of the companies in the Middle East or in Africa and even the OPEC national oil companies does the same. KPC is the only …

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KPC marketing on a new dangerous path – ‘Our oil should not be traded or gambled with’

The statement issued last week by Kuwait Petroleum Corporation (KPC) concerning establishment of a new marketing and trading company is the first step towards dealing directly with traders and becoming involved in open trading with the only source of our daily income. It is a complete deviation from our established …

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Bill eyed for amending law on ‘KPC’

KUWAIT CITY, June 17: Deputy National Assembly Speaker Essa Al-Kandari has indicated an intention to present a bill for amending the law on establishment of Kuwait Petroleum Corporation, so that all revenues of the corporation are sent to the State Treasury, reports Al-Qabas daily. Al-Kandari came up with the idea …

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KPC renews crude oil storage deal with SUMED

Kuwait Petroleum Corporation (KPC) renewed its crude oil storage and transportation contract with Egypt’s Arab Petroleum Pipelines Company (SUMED). KPC said in a press statement, Tuesday, that the contract, which enters its third year, aims at strengthening Kuwait’s position in oil markets by realizing a 2030 global marketing strategy. KPC …

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‘Audit’ issued 282 operational reports in last two years: KPC

KUWAIT CITY, Nov 30, (KUNA): The Kuwaiti oil sector’s central auditing bureau has issued 282 reports on operations of Kuwait Petroleum Corporation (KPC) and affiliated companies in the last two years, KPC CEO Nizar Al-Adsani said on Wednesday. In a speech to open a Gulf Cooperation Council (GCC) audit bureau …

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KPC new refinery in Oman a shift in marketing strategy – Advantage of proposed venture questioned

Kuwait Petroleum Corporation (KPC), since its inception, has been following a sound marketing strategy of investing in building refineries in large consuming markets and countries to establish a safe and secure home for Kuwait crude oil. This has been the case since 1983 when KPC first invested in more than …

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KNPC signs KD 1.2 bn loan for fuels project – KPC inks supply deal

KUWAIT CITY, April 28, (RTRS): State-owned refiner Kuwait National Petroleum Co (KNPC) signed on Thursday the first tranche of financing for its multi-billion-dollar Clean Fuels Project, a major plank of the country’s economic development plan. The tranche, provided by local banks and lasting for 10 years, is worth 1.2 billion …

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KPC inks MoU to develop Pakistani oil wells – MoU to be implemented through KUFPEC

KUWAIT CITY, March 6, (KUNA): The state-run Kuwait Petroleum Corporation (KPC) has signed a memorandum of understanding with the Pakistani Ministry of Petroleum and Natural Resources (MPNR) for developing oil wells in the south Asian country. In a press statement, the KPC said that the MoU would be implemented through …

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KPRC: The new oil and petrochemical company – New venture now seeking investors

The board of Kuwait Petroleum Corporation (KPC) recently approved the formation of a new company under the name ‘Kuwait Petrochemical Refining Company’ (KPRC) which will be responsible for three activities — the new Al-Zour Refinery which is currently under construction, a new LNG import terminal and a new petrochemical complex. …

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KPC ready to sell loss-making assets

KUWAIT CITY, Feb 9, (Agencies): State-run Kuwait Petroleum Corp (KPC) plans to sell loss-making assets to cut costs as low oil prices pressure its finances, state news agency KUNA reported on Tuesday. Nizar Al-Adsani, chief executive of KPC, was quoted as saying the company had started efforts to sell its …

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