Kuwait unites oil giants: Merger of KNPC, KIPIC begins
The Kuwait National Petroleum Company (KNPC) has announced the commencement of the merger process with the Kuwait Integrated Petroleum Industries Company (KIPIC).
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KNPC Chief Executive Officer and Acting CEO, Engineer Wadha Al Khatib, stated that the merger is based on well-studied legal and professional foundations aimed at strengthening Kuwait's oil sector companies under KPC.
She emphasized that the initiative seeks to unite efforts based on each company's specialization, expanding their capabilities and enabling greater achievements.
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Al Khatib highlighted that the merger will ultimately result in a successful model for transitioning into a larger economic entity aligned with the strategic ambitions of both sectors and the achievement of Kuwait's Sustainable Development Goals (SDGs).
She also noted that the rapidly evolving global oil and gas industries place a significant responsibility on Kuwait's energy sector to adapt and respond effectively to these changes.
Furthermore, she reaffirmed the sector's commitment—through KPC and its subsidiaries—to continue meeting its obligations to clients while sustaining growth in line with Kuwait's leadership in the international energy industry.
Strategic
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Al Khatib pointed out that the sector continually reviews its strategic plans and reassesses its goals to ensure the success of the merger, with a strong focus on measuring operational performance as part of its long-term objectives.
Addressing employees, Al Khatib reaffirmed her commitment to keeping them fully informed about the upcoming steps, underlining that staff remain a top priority for KNPC's leadership and are vital to the success of its future goals.
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