Kuwait Petroleum International Ltd. engages in the research, refining, marketing, and sale of petroleum products. The company’s activities include the operation of refineries that process and refine crude oil into a range of finished products, including propane, butane, gasoline, kerosene, gas oil/diesel, sulphur, jet fuel, and bitumen; operation of gasoline service stations in Italy, Denmark, Belgium, the Netherlands, Luxembourg, and Sweden; and direct sale of bulk fuels, bitumen, LPG, and other petroleum products to large organizations, public utilities, local authorities, transport companies, light industry, and farmers, as well as home heating oil to private individuals. Its activities a...
Salhiya Commercial Complex
Founded in 1983
Kuwait Petroleum Cancels Investment In Rotterdam Refinery, Considers Other Options
Oct 6 14
Kuwait Petroleum International Ltd. has cancelled a planned $1.4 billion investment in its 88,000 barrel per day (bpd) Rotterdam refinery and may sell it, a spokesman said, as Europe's refiners struggle with overcapacity and global competition. "Now we have to look at all other options," spokesman Jan Maarten van der Steen said on October 6, 2014, adding that Kuwait Petroleum was talking to banks including HSBC about managing a possible sale. Converting the Europoort refinery to a storage terminal or closing it entirely are possibilities, he said, although adding that closure was "not the option anyone wants". "It's also our intention to keep all personnel on board," he said, "We are working on a new collective labour agreement." Van der Steen said Kuwait Petroleum hoped to make a preliminary decision by spring 2015, though emphasizing that talks were in early stages.
Kuwait Petroleum Eyeing IOC’s Refinery
Mar 11 14
Kuwait Petroleum International Ltd. is interested in acquiring stake in Indian Oil Corporation Limited’s (BSE:530965) (IOC) unit. According to the news PTI PTI report, Kuwait Petroleum is looking to acquire Paradip refinery from IOC for INR 297.8 billion. An official state that IOC might not offer more than 26% stake in the refinery. He added that IOC is yet to receive confirmation on whether Kuwait Petroleum in interested in its petrochemical project or refinery or both. He further stated that IOC will not be interested in a deal with Kuwait Petroleum if it has plans to purchase the Paradip refinery or to avail IOC’s major crude oil requirement from Kuwait.