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Ministry of Oil organizes a discussion session on the strategic projects of "Kuwait Petroleum International"

29-10-2024

• Sheikha Tamader Khaled Al-Ahmad Al-Jaber Al-Sabah: The efforts of "International Petroleum" enhance Kuwait's leadership in refining and external fuel stations • The success of "International Petroleum" reflects our pride in Kuwait's pioneering position and its contribution to providing the global economy with vital resources according to the highest standards • "International Petroleum": Our business is concentrated in Europe.. and the number of retail fuel stations exceeds 4700 stations, most of which are concentrated in Italy • We operate 3 external refineries, namely Vietnam, Duqm and Milazzo.. and we supply jet fuel at more than 70 international airports The Ministry of Oil organized a discussion session this morning, Tuesday, October 29, 2024, in which a number of officials from Kuwait Petroleum International Company presented, namely Eng. Nawaf Al-Mudhian, Director of the Management Support Department, Eng. Abdul Rahman Al-Dosari, Director of Manufacturing - Oman, and Eng. Mishari Al-Najdi, Director of Manufacturing - Vietnam, entitled (Strategic Projects of KPI Company), and it was attended by employees of technical and economic affairs at the Ministry of Oil, employees of the Kuwait Petroleum Corporation, the Public Authority for the Environment, and the Ministry of Electricity, Water and Renewable Energy, The Kuwait Institute for Scientific Research, the Organization of Arab Petroleum Exporting Countries (OAPEC), students from the College of Engineering and Petroleum at Kuwait University, and media professionals. At the beginning of the discussion session, the Director of Public Relations and Petroleum Media at the Ministry of Oil, Sheikha Tamader Khaled Al-Ahmad Al-Jaber Al-Sabah, welcomed the attendees and said: “I am pleased to express my sincere appreciation and pride for the efforts of Kuwait Petroleum International, which is one of the pillars of the Kuwaiti oil and gas industry around the world, and which continues to strengthen Kuwait’s position as one of the leading powers in the refining and petroleum services sector, through its advanced global refineries.” She stated that the success of Kuwait Petroleum International is a reflection of our pride in Kuwait's leading position in the energy sector and its contribution to supplying the global economy with vital resources according to the highest standards. She added: "KPI has succeeded in expanding the scope of its services to include many international airports, which confirms its unique capabilities to meet the needs of the global aviation market, which includes supplying aircraft with fuel according to the highest standards of quality and safety. These services not only support the daily operations of major airports in the world, but also enhance mutual trust between Kuwait and its international partners, which contributes to enhancing Kuwait's reputation as a country that provides world-class services and adheres to the highest standards of reliability." Company Vision and Objectives In turn, KPI officials reviewed the company's vision and objectives, which are to be a global company in the field of energy provision, distinguished by high performance and the capabilities of its human resources, and gaining the trust of partners and customers, while maintaining social and environmental responsibility. The company's mission is focused on providing energy that fuels the growth of the countries in which it is located and services while enhancing the commercial value of Kuwaiti products. During the discussion session, they said that Kuwait Petroleum International was established in 1983 and is a global marketing company affiliated with the Kuwait Petroleum Corporation. It operates a large and wide network of retail fuel stations and stations serving dedicated transportation routes in Europe. The company’s business is concentrated in Europe, where the number of retail fuel stations exceeds 4,700 stations, including more than 2,800 stations concentrated in Italy. The company also supplies global aviation with jet fuel at more than 70 international airports, in addition to manufacturing and marketing one of the best and highest quality types of oils in the world. Strategic Objectives Regarding the strategic objectives of Kuwait Petroleum International within the 2040 strategy, they indicated that they are represented in maintaining the continuity of retail sales operations and expanding in high-growth markets, protecting retail sales operations through means of innovation and development, increasing the amount of marketing of Kuwaiti petroleum products through global marketing activities, and working to stabilize refining operations to ensure the disposal of Kuwaiti crude oil. Capital expenditure priorities were determined to maintain the company's financial stability and maintain the optimal level of operational expenditure while improving operational efficiency. Regarding the company's most important activities, they stated that they are focused on retail sales within fuel filling stations and wholesale sales by providing fuel filling services to companies, direct sales, global diesel services, blending lubricating oils, marketing jet fuel, and refining. Regarding direct sales, they said that the wholesale sector in Kuwait Petroleum International markets products such as liquefied petroleum gas (LNG) and other petroleum products in European markets, and about 100,000 barrels are sold daily through the direct distribution sector to the company's customers, including public utilities, local authorities, transportation companies, farmers, and individuals. Global Diesel Services includes International Diesel Services (IDS), which includes a network of fuel stations dedicated to trucks in more than 20 European countries through hundreds of filling points, and about 32 thousand barrels per day are sold through the network. IDS allows its customers to fill fuel at stations owned by the company and bearing the IDS brand, in addition to filling at stations owned by other companies under a card acceptance agreement at those stations. As for blending lubricants, Q8Oils manufactures and markets lubricants at its factories located in Belgium and Italy, each of which has a capacity of 125 and 50 million liters each. As for marketing jet fuel, Q8Aviation supplies jet fuel to airlines at airports in Europe, Africa, the Middle East and Asia, and about 116 thousand barrels per day of jet fuel are sold through the Q8Aviation network, and the company provides technical service agreements to customers (operators and fueling companies) to ensure that airport facilities operate according to JIG standards. As for the refining operations carried out by Kuwait Petroleum International, they mentioned that it owns shares in 3 global refineries through partnerships with international oil companies in both: Vietnam in the Nghi Son refinery, and the second refinery in Italy, represented by the Milazzo refinery, in which it owns a 50% stake, and the total refining capacity is about 200 thousand barrels per day. As for the third refinery, it is represented by the Duqm refinery in the Sultanate of Oman, in which Kuwait owns a 50% stake. Sustainability They discussed sustainability in the company and said that the vision is in line with the vision of the Petroleum Corporation to achieve a neutral zero rate of net emissions, scope 1 and scope 2, by 2050, and tangible measures have been taken at all levels, as investments are being made in multi-energy stations and multi-service stations. They added: "So far, nearly 400,000 charging points have been provided in European retail stations, allowing our customers to pay through our own applications. We also encourage our customers to use biofuels, with a range of products available to meet the needs of our individual and corporate customers, in line with the current regulations in those countries." They mentioned that work is underway to promote the use of sustainable aviation fuel, which reduces carbon dioxide emissions. The company delivered the first shipment of sustainable aviation fuel to Gatwick Airport in London, and sustainable aviation fuel has been provided to airlines flying from Heathrow Airport in London and Charles de Gaulle Airport in Paris. Vietnam Refinery In addition, the officials of the international petroleum company reviewed the Vietnam refinery in terms of its origin and development, saying that the Nghi Son Vietnam Refinery and Petrochemical Complex Company was established in 2008 in partnership between Kuwait Petroleum International with a 35.1% stake, the Japanese company Demitsukosan with a 35.1% stake, the Japanese company Mitsui Chemicals with a 4.7% stake, and the state-owned company PetroVietnam with a 25.1% stake, stressing that the project serves the strategy of the Petroleum Corporation as it provides a safe outlet for about 200,000 barrels per day of Kuwaiti crude oil. They pointed out that the refinery was established by a global contractor alliance led by the Japanese company JGC, as the refinery began commercial production in November 2018. The refinery is located in northern Vietnam and is considered the largest refinery in Vietnam. Duqm Refinery Regarding the Duqm Refinery Project, they said that OQ8 is a 50-50 partnership between Kuwait Petroleum International and Oman Oil Company and is located in a strategic location on the international trade route on the Arabian Sea and the Indian Ocean, linking global markets east and west. The refinery's refining capacity is 230,000 barrels per day and the refinery relies on a mixture of Kuwaiti and Omani crude oil at a rate of 65% from Kuwait and 35% from Omani crude oil. The refinery's products are concentrated in diesel, naphtha, jet fuel, liquefied petroleum gas, sulfur and petroleum coke. The engineering, procurement, mechanical works and operation stages have been completed, and the refinery is currently operating at full production capacity. 43 Kuwaiti employees have been appointed to the Duqm Refinery Project, including 24 employees through direct appointment and 19 experienced employees who were hired by the Kuwait Petroleum Corporation and its subsidiaries to work at the refinery company on a secondment basis.