Kuwait Petroleum Corporation

The Kuwait Petroleum Corporation (KPC) specializes in onshore and offshore petroleum exploration and refining, processing, distribution, sales and transportation of petrochemicals.

KPC consolidates all state-owned elements of the Kuwait oil sector under its corporate umbrella. It is one of the largest integrated oil companies in the world with subsidiaries and operations on six continents. KPC’s annual production capacity of crude oil is 2.5 million barrels per day.

The company announced in May 2008 that it plans to invest KWD14.78 billion (USD55.74billion) in Kuwait to finance its production, refineries, the building of new tankers and ships to be carried out through its subsidiaries including Kuwait Oil CompanyKuwait Oil Company and Kuwait National Petroleum CompanyKuwait National Petroleum Company.

KPC plans to build a KWD4 billion (USD15.09 billion) oil refinery in Kuwait expected to come into operation in 2011 at a capacity of 615,000 barrels per day. The new refinery would produce environmentally friendly fuels and byproducts destined for electricity and water plants in Kuwait.

KPC’s international endeavors include a joint venture with one of China’s largest oil firms, SinoChem and Royal Dutch Shell. KPC will begin as of 2008 supplying 100,000 barrels of crude oil per day, to a planned SinoChem refinery, which will process 240,000 barrels a day when completed in 2010.

In May 2008, KPC launched a joint venture with PetroVietnam, Idemitsu Kosan Company, the Kuwait Petroleum InternationalKuwait Petroleum International and Mitsui Chemicals to establish the Nghi Son Refinery & Petrochemical Limited Liability Company in Vietnam for USD6 billion. When completed in 2013, it will have a refining capacity of 200,000 barrels a day.