EQUATE Sponsors Kuwait Oil & Gas Summit 2016

EQUATE Continues Integrating its Subsidiary MEGlobal

Kuwait 11 April 2016 -- EQUATE Petrochemical Company, Kuwait's first international joint-venture in this industry, said that with the Middle East having a 40% share of global gas reserves, more networking connectivity is needed to maximize the utilization value of such gas resources.

Participating at Kuwait Oil & Gas Summit 2016, EQUATE President & CEO Mohammad Husain said, "Developing the gas sector requires thorough collaboration between national oil companies (NOC) and their international counterparts (IOC) as 'Partners in Success' for overall sustainability. Such development entails overall adaptation, preparing for the new era, resilience, understanding future energy mix, high reliability, ensuring environmental excellence, pricing structure, innovative solutions, cost effective technology, suitable regulations, as well as having the qualified human capital."

Husain noted, "Currently, the oil market is facing price fluctuations due to increased supplies. Although the market is currently progressing, we are still dealing with changes. Naturally, as a major market, China is critical to maintain stability. Along the same lines, the oil producers meeting in Doha will have a direct impact on matters."

Husain added, "In terms of EQUATE's upcoming projects, we are continuing the execution of our 2020 Strategy and are currently looking as far as 2025. At the same time, to optimize the added-value, EQUATE is continuing the integration of its new subsidiary MEGlobal which we acquired at the end of 2015."

Sponsored by EQUATE, Kuwait Oil & Gas Summit 2016 is held during 11-12 April with the participation of several senior officials from Kuwait Petroleum Corporation (KPC) & Subsidiaries, as well as other oil, gas, petrochemical, scientific and academic organizations from around the world.Established in 1995 as Kuwait's first international joint-venture in this industry, EQUATE Petrochemical Company (EQUATE) embodies its "Partners in Success" slogan through the partnership between Petrochemical Industries Company (PIC), The Dow Chemical Company (Dow), Boubyan Petrochemical Company (BPC) and Qurain Petrochemical Industries Company (QPIC). Commencing production in 1997, EQUATE is currently the owner and single-operator of several fully integrated world-class petrochemical units, within the Greater EQUATE joint-venture, that annually produce over 5 million tons of the highest quality grades of Ethylene, Polyethylene (PE), Ethylene Glycol (EG), Polypropylene (PP), Styrene Monomer (SM), Paraxylene (PX), Heavy Aromatics (HA) and Benzene (BZ). The products are marketed throughout the Middle East, Asia, Africa and Europe. Alongside with being a leading industrial organization, EQUATE dedicates its utmost commitment and care to overall sustainability wherever it operates in cooperation with public and private bodies, including employees, the society and customers, in all relevant fields, such as human development, environment, education, health and public awareness. www.equate.com  

© Press Release 2016