22/09/2026
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22/09/2026
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KUWAIT CITY, Sept 22: The Kuwait Integrated Petroleum Industries Company (KIPIC) achieved a net profit of KD239,152,417 for the 2025/2026 fiscal year, compared to KD 52,250,585 in the previous year, according to the annual report of the company for the fiscal year ending March 31, 2026. KIPIC CEO Wadha Al- Khatib affirmed that the past year was exceptional, as it was marked by significant transformations that reflected the commitment of the company to realize the vision of Kuwait Petroleum Corporation (KPC) and the State of Kuwait regarding the energy sector.
She expressed her deep appreciation for the efforts of the employees, indicating that Zour Refinery achieved a refining rate of 422,947 barrels per day, exceeding the target by 21.97 percent compared to the previous year. She also cited the success of the company in processing ‘om niqa’ and ‘heavy crude’ at substantial rates. She pointed out that KPC confirmed that it has strengthened its global competitive position by exporting its first shipment of low-sulfur jet fuel (ATK), which meets the highest international standards. She said the company secured a guarantee for continuous export of ultra-low-sulfur diesel fuel (ULSD) that meets French specifications and standards. She added that the liquefied natural gas (LNG) import facilities continue to play their vital role as the main energy artery.
She confirmed the arrival of 85 LNG carriers with a total cargo of 13.18 million cubic meters, highlighting the historic peak on Aug 19, 2025, when 1.609 million standard cubic feet (MMscf) of LNG were shipped within one day, equivalent to 1.576 billion British thermal units (BTUs). She stressed that she is proud of the fact that the Technical Services Group received the KPC Excellence Award, in recognition of its role in heavy oil processing. She went on to say that KIPIC is progressing towards carbon neutrality, with the energy management services contract for Zour Complex reaching around 86 percent completion, while the budget for the first phase of the solar energy system installation project at Zour Refinery has been approved, along with the planting of more than 3,500 trees around the refinery.
She asserted that the company continues to play its role in the strategy of KPC regarding the oil sector restructuring project through the merger of KIPIC with Kuwait National Petroleum Company (KNPC) to raise operational efficiency and rationalize expenses. She expects the completion of the merger in the coming months and the fruitful integration between the Zour, Mina Al-Ahmadi and Mina Abdullah refineries. She then affirmed that the two companies have made significant progress in implementing the merger, while pointing out that the Kuwaitization rate has reached 97.10 percent of the total workforce of 1,378. She said these competencies were developed through 449 local and international training programs.
She added that the company strengthened its health, safety and environment systems by training new batches of firefighters, as well as the security cooperation with state institutions. She disclosed that the company organized health awareness campaigns for its employees and that of contracting companies, including proactive medical examinations for the early detection of common diseases, such as hypertension, heat exhaustion, hepatitis and work-related stress. She said the local spending of the company accounted for 31.2 percent of its total operating and capital expenditures by the end of March 2026. She also stressed that the company remains committed to playing its humanitarian role through several community initiatives during Ramadan, embodying the values of social solidarity.
By Najeh Bilal Al-Seyassah/Arab Times Staff
