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March 30, 2015 1:15 PM ET

Oil, Gas and Consumable Fuels

Company Overview of Kuwait Petroleum Corporation

Company Overview

Kuwait Petroleum Corporation is an integrated oil and gas company in Kuwait and internationally. Its activities include exploration, drilling, and production of oil and gas within the State of Kuwait; storage of crude oil and delivery to tankers for export; domestic oil refining and gas processing; researches, refines, markets, and sells fuel, lubricants, and other petroleum derivatives primarily in Europe and the Far East; exploration, appraisal, development, and production of oil and gas from the partitioned zone between the State of Kuwait and the Kingdom of Saudi Arabia; and exploration, development, and production of crude oil and natural gas outside Kuwait, active in Africa, the Middle...

PO Box 26565

Safat,  13126

Kuwait

Founded in 1980

18,571 Employees

Phone:

965 1 85 85 85

Fax:

965 499 4991

Key Executives for Kuwait Petroleum Corporation

Deputy Chairman and Chief Executive Officer
Managing Director of Planning & Finance
Managing Director of Training & Career Development
Managing Director of Corporate Relations & Information Technology
Managing Director of Finance Affairs
Compensation as of Fiscal Year 2014.

Kuwait Petroleum Corporation Key Developments

Kuwait Petroleum Corporation Signs Long-Term Crude Supply Contracts with Shell International Trading Company

Kuwait Petroleum Corporation has announced signing long-term crude oil supply contracts with Shell International Trading Company. The first contract is a renewal of a previous one with SITCO but after doubling the agreed upon amount of crude. The new contracts with SITCO come within the framework of its marketing scheme that aims to establish a foothold in new markets. The first contract helps KPC restore and even increase its sales level after a drop in 2013. It also opens new markets such as New Zealand for the Kuwait crude. KPC, as per these contracts, will supply SITCO with 100,000 barrels of crude oil per day to be market on all world markets at the accredited international prices.

Kuwait Petroleum To Acquire Stake In Paradip Refinery From Indian Oil Corporation

Kuwait Petroleum Corporation (KPC) has again approached Indian Oil Corporation Limited (BSE:530965) (IOC) for a stake in INR 297.77 billion Paradip refinery. Sanjiv Singh, Director (Refineries) of Indian Oil Corporation said, "They have again approached. Talks are at very initial level. Things are at very preliminary stage." Another official said, "We had in March stated that KPC is in talks with IOC for an equity stake. Those talks remain at preliminary level. Not much has progressed." IOC is willing to offer no more than 26% stake in Paradip. The second official said, "We are discussing details of their participation, whether they are interested in taking a stake in the refinery or in the petrochemical project or both is what we are discussing now." The official said, "If the equity participation will be subject to the refinery buying all or most of its crude oil requirement from Kuwait then that will be a big no-no from us as we don't want to tie ourself down to just one supplier."

Kuwait Petroleum Corporation Announces Earnings Results for the Fiscal Year Ending on March 31, 2014

Kuwait Petroleum Corporation announced earnings results for the fiscal year ending on March 31, 2014. For the period, the company posted profit of KD 1.4 billion compared with KD 2.5 billion in the same period last year. The fall in the KPC's profits is due to global oil price fluctuations which led to a dip in the Kuwaiti oil price from USD 105.3 per barrel in the fiscal year 2012-2013 to USD 103.5 per barrel in the fiscal year 2013-2014.

Similar Private Companies By Industry

Company Name Region
Kuwait Oil Company Ltd. Middle East/Africa
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Kuwait Petroleum International Ltd. Middle East/Africa

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