September 22, 2014 5:04 AM ET

Oil, Gas and Consumable Fuels

Company Overview of Kuwait Petroleum Corporation

Company Overview

Kuwait Petroleum Corporation, through its subsidiaries, operates as an oil and gas company in Kuwait and internationally. Its operations include exploration, drilling, and production of oil and gas within the State of Kuwait; storage of crude oil and delivery to tankers for export; exploration, development, and production of oil and gas from the Divided 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 East, Asia, the United Kingdom, Norway, and Australia. The company also manufactures and supplies petrochemical building blocks for customers globally. In addi...

PO Box 26565

Safat,  13126

Kuwait

Founded in 1980

18,571 Employees

Phone:

965 1 85 85 85

Fax:

965 2499 4991

Key Executives for Kuwait Petroleum Corporation

Chief Executive Officer
Managing Director of Planning & Finance
Board Member
Age: 60
Managing Director of Corporate Relations & Information Technology
Compensation as of Fiscal Year 2014.

Kuwait Petroleum Corporation Key Developments

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.

Kuwait Petroleum Corporation, Board Meeting, Jul 17, 2014

Kuwait Petroleum Corporation, Board Meeting, Jul 17, 2014. Agenda: To discuss the drop in profits for the fiscal year ending on March 31, 2014; and to discuss a KD 24 million dip in refined oil during the fiscal year ending in on March 31, 2014.

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