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Roadmap towards synergy-driven integration
ROME, Sept 3: Kuwait Petroleum International (KPI), an affiliate to Kuwait Petroleum Corporation (KPC), said Thursday that their first batch of ultra-low sulfur cargo has arrived at Naples depot in Italy. A statement by KPI, which was received by KUNA said, “Kuwait Petroleum International (KPI) has received the first cargo of ultra-low sulfur diesel 10 ppm S through its affiliate company, KP Italia, in Naples, Italy.” Representatives from KP Italia and KPC’s International Marketing were in Naples to receive the vessel today.
The cargo was produced thanks to Kuwait National Petroleum Company’s Clean Fuel Project, a major upgrade of Kuwait’s refineries that was recently commissioned to reduce the sulfur content of fuel products and increase refining capacity. Kuwait’s Mina Abdullah refinery produced the ULSD in accordance with Euro 6 diesel specifications and Kuwait Oil Tanker Company’s LR1 vessel, Al-Soor II delivered the cargo to a depot in Naples port, operated by KPI.
The agreement, facilitated by KPC’s international marketing directorate, demonstrates KPC’s strategic focus on the production and marketing of cleaner fuel products in line with the highest quality and environmental standards required by global markets.
It proves the success of its roadmap towards synergy- driven integration and shows the success of KPC’s strategic goal to increase integration through supply chain optimization and honing efficiencies within its subsidiaries. On a local level, KPI’s recent investments in its logistics hub in Naples have led to the accommodation of larger product vessels from regions beyond the Mediterranean, this shows the positive role KPI’s affiliate in Italy plays in maintaining diversification of supply for the Mediterranean basin, especially during this period of limited product availability. KPI’s acting President and Chief Executive Officer, Waleed Al Ben Ali, stated, that “Kuwait Petroleum’s footprint in the European markets is forty years strong because we have consistently provided our customers with energy that meets their need for a diverse slate of cleaner products.
“We look forward to further integration with our parent company, KPC, and our sister companies in Kuwait, so we can further integrate our supply chain and grow and our global business,” Ben Ali added. For his part, KP Italia’s Managing Director, Fadel Al-Faraj, commented on this achievement saying “I am very proud we have concluded this deal with our parent company because it confirms the importance of the European market to KPC and shows that KPI, through its team in Italy, is a stable, reliable, and trusted partner that is ready and able to meet all customer needs.”
“Our goal is to provide a stable supply chain to meet diverse mobility needs and we will continue to do so with the help of our parent company and sister companies in Kuwait,” he said. Kuwait Petroleum International is the international downstream subsidiary of Kuwait Petroleum Corporation. Established in 1983, KPI operates over 4,700 service stations across Europe under its brands, Q8, Q8Easy and Tango, and provides over 70 airlines with jet fuel in major airport hubs. It also runs two state-of-the-art lubricant blending plants in Belgium and Italy under the brand Q8Oils and owns shares in three joint venture refineries in Italy, Vietnam, and Oman , (KUNA)