View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
March 11, 2010

Kuwait SPC Proposes Oil Firm Merger

Kuwait's Supreme Petroleum Council (SPC), the country's highest oil policy body, has proposed merging state oil firms into one entity, according to a local newspaper report. Kuwait Petroleum Corp (KPC) is the umbrella firm for a number of units handling different parts of the industry w

By cms admin

Kuwait’s Supreme Petroleum Council (SPC), the country’s highest oil policy body, has proposed merging state oil firms into one entity, according to a local newspaper report.

Kuwait Petroleum Corp (KPC) is the umbrella firm for a number of units handling different parts of the industry within the OPEC member countries, the world’s fourth largest oil exporter.

“KPC will study a proposal by the SPC to merge its ten subsidiaries under one huge company called Kuwait Petroleum Company,” local daily al-Anbaa said, citing oil sources.

The new firm is expected to include the four sectors of exploration, refineries, joint services, and transportation and marketing, the paper stated, adding that the proposal could take between three and five years to be carried out.

Related Companies

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Friday. The industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Offshore Technology