Latest news with #KuwaitNationalPetroleumCompany
Zawya
15-04-2025
- Business
- Zawya
Kuwait purses oil merger plan
Kuwait is pushing ahead with plans to merge its state oil companies to reduce their number, create strong entities and cut costs, a newspaper reported on Tuesday. The merger will start with the OPEC member's two main downstream companies Kuwait National Petroleum Company (KNPC) and the Kuwait Integrated Petrochemical Industries Company (KIPIC), the Arabic language daily Alseyassah said. KIPIC's deputy financial manager Bandar Al-Qahtani met the company's employees on Sunday to discuss 'measures to protect their rights' after the merger, the paper said. 'He emphasised the need to preserve the rights of all staff members as per instructions by authorities…this includes the need to keep their contracts after the merger.' In a report last month, the paper said the merger of the two companies would begin at the start of the 2025-2026 fiscal year, which begins on April 1. It said mergers among the state oil entities came amid plans by Kuwait to expand oil and gas production capacity to 4 million barrels-per-day and 1.5 billion cubic-feet-per-day respectively. Kuwait has 8 main state-owned oil companies and controls nearly 101 billion barrels of recoverable crude deposits, the world's sixth largest. In 2020 KPC appointed the US-based consultant Strategy& to carry out a study for restructuring the oil sector, which will remain managed by the Kuwait Petroleum Corp (KPC). (Writing by Nadim Kawach; Editing by Anoop Menon) (
Zawya
30-01-2025
- Automotive
- Zawya
Kuwait's KNPC plans 20 new fuel stations
KUWAIT CITY - Kuwait National Petroleum Company (KNPC) intends to boost its annual profits by increasing the number of car fuel stations to augment its sales of gasoline in the local market to reach about six million liters by 2027. Sources said the company offers various types of gasoline in the local market; indicating the company sold 4,860,000 liters last year. The largest share was for Premium 91 gasoline, which achieved the highest percentage in sales -- more than three million liters, while Special 95 gasoline reached more than 1.8 million liters and a small percentage of Ultra 98 -- more than 33,000 liters, sources added. Sources confirmed that Chief Executive Officer (CEO) of KNPC Wadha Al-Khatib is closely following up the file of increasing the number of fuel stations in light of the population increase witnessed by the country, in addition to the rising number of residential areas. Sources said the company is currently coordinating with the Kuwait Municipality, Public Authority for Roads and Transportation (PART), Ministry of Electricity and Water, and Public Authority for Housing Welfare (PAHW) to allocate sites where more fuel stations will be established to obtain approvals. Sources explained that the total number of fuel stations has reached 79; including six mobile stations; indicating that KNPC plans to establish 20 fuel stations by 2027, to reach 100 fuel stations by 2040. Sources affirmed the company is keen on protecting the environment in general; hence, the establishment of many facilities at its fuel stations aimed at protecting the surroundings of the stations, including a unit for recovering volatile vapors by installing advanced devices. Meanwhile, KNPC also revealed that it recently opened a new fuel filling station in West Abdullah Al-Mubarak -- the second over the past two months, as it opened a similar station last November. The new station is located in Block One and bears the number 157. It has a modern design and uses solar energy to produce clean energy, which will provide about 30 percent of the station's electricity needs. It also contains a vapor recovery unit that can absorb vapors while filling the car's tank with fuel, condense them and return them to the tank to reduce environmental pollution. The station will provide parallel services to its customers like a mini central market, an ATM and car maintenance; in addition to providing various options for paying the fuel value through advanced and easy-to-use electronic technologies and applications. The opening of this station comes within the framework of a strategic plan to build new stations in various parts of the country, especially in new residential areas; for the company to meet the needs of the residents in these areas for petroleum derivatives and to keep pace with the urban expansion witnessed by the country. Arab Times | © Copyright 2024, All Rights Reserved Provided by SyndiGate Media Inc. (
Arab Times
29-01-2025
- Automotive
- Arab Times
KNPC plans 20 new fuel stations
KUWAIT CITY, Jan 29: Kuwait National Petroleum Company (KNPC) intends to boost its annual profits by increasing the number of car fuel stations to augment its sales of gasoline in the local market to reach about six million liters by 2027. Sources said the company offers various types of gasoline in the local market; indicating the company sold 4,860,000 liters last year. The largest share was for Premium 91 gasoline, which achieved the highest percentage in sales -- more than three million liters, while Special 95 gasoline reached more than 1.8 million liters and a small percentage of Ultra 98 -- more than 33,000 liters, sources added. Sources confirmed that Chief Executive Officer (CEO) of KNPC Wadha Al-Khatib is closely following up the file of increasing the number of fuel stations in light of the population increase witnessed by the country, in addition to the rising number of residential areas. Sources said the company is currently coordinating with the Kuwait Municipality, Public Authority for Roads and Transportation (PART), Ministry of Electricity and Water, and Public Authority for Housing Welfare (PAHW) to allocate sites where more fuel stations will be established to obtain approvals. Sources explained that the total number of fuel stations has reached 79; including six mobile stations; indicating that KNPC plans to establish 20 fuel stations by 2027, to reach 100 fuel stations by 2040. Sources affirmed the company is keen on protecting the environment in general; hence, the establishment of many facilities at its fuel stations aimed at protecting the surroundings of the stations, including a unit for recovering volatile vapors by installing advanced devices. Meanwhile, KNPC also revealed that it recently opened a new fuel filling station in West Abdullah Al-Mubarak -- the second over the past two months, as it opened a similar station last November. The new station is located in Block One and bears the number 157. It has a modern design and uses solar energy to produce clean energy, which will provide about 30 percent of the station's electricity needs. It also contains a vapor recovery unit that can absorb vapors while filling the car's tank with fuel, condense them and return them to the tank to reduce environmental pollution. The station will provide parallel services to its customers like a mini central market, an ATM and car maintenance; in addition to providing various options for paying the fuel value through advanced and easy-to-use electronic technologies and applications. The opening of this station comes within the framework of a strategic plan to build new stations in various parts of the country, especially in new residential areas; for the company to meet the needs of the residents in these areas for petroleum derivatives and to keep pace with the urban expansion witnessed by the country.
Zawya
27-01-2025
- Business
- Zawya
Kuwait's HEISCO wins refinery retubing deal
Kuwait-listed Heavy Engineering Industries and Shipbuilding Company (HEISCO) said on Monday it has won a contract for tube replacement at Kuwait's Mina Al-Ahmadi oil refinery with a value of around 1.79 million dinars ($6 million). In a bourse statement, HEISCO said it was awarded the deal after it submitted the lowest bid for the project. The contract, awarded by the state-owned Kuwait National Petroleum Company, involves 'retubing of heat exchangers during major shutdowns at Mina Al-Ahmadi Refinery,' the firm said. (Reporting by Nadim Kawach; Editing by Anoop Menon) ( Subscribe to our Projects' PULSE newsletter that brings you trustworthy news, updates and insights on project activities, developments, and partnerships across sectors in the Middle East and Africa.
