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Trend indicates start of privatization stage
KUWAIT CITY, Aug 18: The liquefied gas import operations at the Kuwait Integrated Petroleum Industries Company (KIPIC) will be dismantled, so that the work team for the maintenance of liquefied gas import facilities (LNGI) will be included in the Al-Zour refinery maintenance group, provided that the work team for the operations of liquefied gas import facilities joins Al-Zour refinery operations group, reports Al-Qabas daily.
The same sources told the daily, that this trend is an indication of the beginning of the privatization stage or the start of the merger process in the oil sector, pointing to the process of dismantling and transferring senior officials happened after the oil sector received the green light to start the change process and was excluded from stopping appointment, delegation and rotation issued by the Civil Service Commission. The sources indicated that the new KPC board of directors is heading to hold its first official meeting in months next Tuesday, explaining that previous meetings were held to discuss and to see the course of things in the oil companies.
As for urgent and necessary decisions that cannot be postponed, they were issued in the form of decisions without a contract without formal meetings. The sources expects the announcement to appoint senior, executive and supervisory personnel in vacant in the Kuwait Petroleum Corporation and its subsidiaries next week.
The government’s resignation on April 5 caused delays in restructuring the oil sector, announcing the names of the officials who will lead the sector during the next stage, in addition to keeping the Kuwait Oil Company without a CEO, which negatively affected the progress of work, programs and oil and gas projects. According to the sources, this delay provided a sufficient opportunity to choose the appropriate and homogeneous executive team to lead the sector during the next stage to advance it again, especially since the executive management of the Kuwait Petroleum Corporation has crystallized the full picture of the new executive team that will lead the sector.