MADRID, Oct 11: Kuwaiti Ambassador to Portugal Hamad Al-Hazeem on Friday reaffirmed Kuwait’s commitment to strengthening economic and investment cooperation with Portugal and encouraged Kuwaiti companies to expand their presence in the Portuguese market.

Speaking to KUNA, Al-Hazeem detailed his recent meeting at the Kuwaiti Embassy in Lisbon with Massimiliano Maiocco, Operating Director of Kuwait Petroleum Company Spain — a subsidiary of Kuwait Petroleum International (Q8) — and Abdullah Al-Roumi, Retail and Marketing Manager. The discussion focused on the company’s newly acquired license to operate in Portugal.

The ambassador also facilitated an official meeting between the Kuwaiti delegation and Rafael Rocha, Director-General of the Portuguese Business Confederation (CIP), aimed at exploring opportunities for cooperation with the Portuguese private sector and potential joint investments in the energy and petroleum services sectors.

Al-Hazeem described Kuwait Petroleum Company’s expansion into Portugal as a significant milestone in developing bilateral economic and trade relations. He assured that the Kuwaiti embassy will continue to provide full support to Kuwaiti firms seeking to invest in Portugal, fostering deeper financial ties between the two friendly nations.

Maiocco praised Ambassador Al-Hazeem’s pivotal role in enhancing cooperation between Kuwaiti and Portuguese companies, emphasizing the positive impact on bilateral relations and the broader Kuwaiti economy. He also discussed with Rocha promising areas of collaboration in services, energy, and infrastructure that could boost joint business ventures.

Established in 1991, Kuwait Petroleum Spain serves as the Spanish branch of Kuwait Petroleum International and manages a network of over 4,700 fuel stations across Europe. The company specializes in distributing and marketing petroleum derivatives, lubricants, aviation fuels, and operates direct and international diesel stations catering to land transport across the continent.

The expansion into Portugal marks a key step in the company’s broader European growth strategy.