Crude oil is not the problem; refining is

Kamel Al-Harami

Ahmadi refinery

Russia ranks third with approximately 7 million barrels per day, while India has around 6 million barrels per day. Kuwait has a total refining capacity of more than 1.2 million barrels per day across three local refineries. In addition, it has three overseas refineries with a combined capacity of 600,000 barrels per day spread across three countries, bringing its overall refining capacity to more than 1.85 million barrels per day.

This makes Kuwait the second- largest country in OPEC in terms of investment in refining capacity after Venezuela, while Saudi Aramco ranks third among OPEC members with a total refining capacity of 3.3 million barrels per day. Investing in refining and downstream activities provides added value beyond the sale of crude oil. It exposes the country to a wider range of customers and global markets rather than relying on a limited number of crude oil buyers. It also provides companies with opportunities to explore opportunities for further investments into related oil activities, including lubricants and other products, while building closer relationships with customers. It creates opportunities to expand into retail outlets and bring the brand closer to households.

By extending services to include fresh food, laundry, and mail services, the company can become an integrated part of customers’ daily lives. Over time, this builds mutual commitment that continues from one generation to the next. It is important not to stop at refining, but to go further by taking one more step in investing in downstream activities through service stations and convenience stores, with additional profit margins and added value. Investing in service stations helps make the stores and gas stations part of the family’s daily life, creating loyalty for generations to come, as seen in Western countries.

A good example is Q8 service stations in Europe and Thailand, which make us proud to highlight our Q8 brand when visiting Europe, and Italy in particular, as one of the largest gasoline station networks. Disruptions to product supplies from our refineries are a major challenge, as we serve global customers from the Far East to Europe. This is a responsibility that Kuwait is proud to fulfill. Being attacked daily by Iran in an attempt to disrupt petroleum product supplies to our global customers is an act of disrespect towards the very country that supported them and supplied their needs during difficult times.

Today, they are targeting the same facilities that helped keep their country running. Unfortunately, they are unable to maintain the safety and stability of their own country, while attacking Kuwait, a nation that supported them when they needed it. We will continue refining, exporting crude oil, refined petroleum products, and gas globally through our six refineries inside and outside Kuwait. We will maintain our position with a “business as usual” approach - something Iran cannot claim or achieve.