KPC To Merge 8 Trading Units Into Four To Simplify Business
Category: Business
kpc-to-merge-8-trading-units-into-four-to-simplify-business_kuwait
Immigrate to Canada or Australia
Study In Abroad

The Kuwait Petroleum Corporation (KPC) is to merge its eight trading units into four units this year to simplify the company’s business and to re-evaluate the spending of about $500 billion in capital investment by 2040, reports Al-Qabas daily quoting a Bloomberg news agency source. The sources said that the measure comes in light of the decline in oil prices globally and reduction of oil production of Kuwait based on the OPEC agreement, as well as to assess the best ways to spend money.

Kuwait Foreign Petroleum Exploration Company (KUFPEC), the Kuwait Oil Tankers Company, the Kuwait Gulf Oil Company and the Kuwait Integrated Petroleum Industries (KIPIC) may also be integrated into larger units within the long-term strategy of the corporation,” the source added. The source pointed out that the potential merger of all these companies requires the approval of the government, and pointed to the return of the KPC to form senior management in the eight units earlier this month, paving the way for possible internal integration among them, which is expected to take place in two years.

Kuwait Petroleum Corp (KPC) is seeking to expand refining and petrochemicals, with Brent down 28 percent since Oct 3, Bloomberg said. The source also said that the KPC is also reviewing the investment plans of heavy oil, which is expensive. The company aims to produce 85,000 barrels per day of heavy oil by 2020 or 2021 and invest in the development of heavy crude oil reservoirs.

Meanwhile Minister of Commerce and Industry and Minister of State for Services Khaled Al-Roudhan is about to open the government building mall in Al-Qurain, the Mubarak Al-Kabeer governorate on Feb 18.

The sources said the new government mall will include all ministries and government agencies serving residents in the area with the aim to facilitate the completion of transactions and the provision of services in all State ministries including Commerce, Interior and Foreign Affairs, Social Affairs and Labor, Justice, Transportation and the Public Authority for Minors Affairs, the Public Authority for Civil Information, the Public Authority of Manpower, etc.

The sources added the new building will include expertise and competencies in all specialties and qualifications. The center will also provide services to citizens and residents, which will reduce the pressure on the headquarters of the main ministries. The sources pointed out that there is coordination with employees of all ministries and government institutions to strengthen the work mechanisms at the new center.

12 Feb, 2019 0 277
Posted Comments
Popular News
26-pilots-and-employees-resign-from-kuwait-airways_kuwait
26 Pilots And Employees Resign From Kuwait Airways Twenty-six pilots and employees working with the national carrier, Kuwait Airways, have tendered their resignation. They submitted a joint letter to the Kuwait Airways Deputy Chief Executives for O... December 12, 2019 0 16414 Category: Kuwait
65888-travel-ban-on-kuwaitis-and-expats-issued_kuwait
65,888 Travel Ban On Kuwaitis And Expats Issued Recent statics as per Ministry of Justice revealed that arrest order against debtors were more then 78,000 in last 10 months of year 2019. It means 354 arrest warrants were issued per day reports Al Q... December 11, 2019 0 7165 Category: Kuwait
indian-and-filipino-flight-attendants-of-saudi-airlines-seriously-injured-in-horrific-accident_kuwait
Indian And Filipino Flight Attendants Of Saudi Airlines Seriously Injured In Horrific Accident Three expat flight attendants of Saudi Arabian airlines (Saudia) two from India and a third originally hails from the Philippines meet in a tragic accident when their minibus collided with a crane whi... December 14, 2019 1 4781 Category: International
delivery-boys-targeted_kuwait
Delivery Boys Targeted The General Traffic Department of the Ministry of Interior has decided to come heavy on the motorcycle riders in all governorates of Kuwait, especially those who work for grocery shops and food outlet... December 13, 2019 1 2086 Category: Crime News
countries-most-affected-by-terrorism-in-2019--kuwait-ranks-75th_kuwait
Countries Most Affected By Terrorism In 2019 - Kuwait Ranks 75th Kuwait advanced 11 places in the index of countries most affected by terrorism in 2019, ranking 75th this year compared to 64th position in 2018, reports Al-Qabas daily. The country came fourth in ... December 13, 2019 0 1900 Category: Kuwait
do-not-exit-and-enter-without-civil-id-card--paci_kuwait
Civil ID is Must For Traveling Abroad (Entry /Exit) The Public Authority for Civil Information (PACI) denied that identification documents are being issued instead of Civil IDs while traveling abroad. reports AlQabas The issuing of traveling certifi... December 13, 2019 0 1525 Category: Civil ID
indian-beaten-up-by-egyptian--both-deported_kuwait
Indian Beaten Up By Egyptian - Both Deported There was a viral video in last few days which show an Indian Was Beaten up by Egyptian and humiliates him, the video went Viral on social media. After MOI Investigation it was found that - It happ... December 12, 2019 0 1498 Category: Expats
kd-5000-fine-for-violators-of-engineering-regulations_kuwait
KD 5,000 Fine For Violators Of Engineering Regulations Environment inspection teams embarked on a campaign in Al- Rai area, resulting in the issuance of 21 citations against various shops for violating engineering regulations related to storage, ventilati... December 15, 2019 0 1365 Category: Crime News
kuwaitis-urged-to-leave-iraq-immediately_kuwait
Kuwaitis Urged To Leave Iraq Immediately Kuwaiti nationals have been urged to avoid traveling to Iraq due the state of instability in the neighbouring country. The Kuwaiti Embassy in Baghdad urged their citizens, who are now in Iraq, to l... December 15, 2019 0 1008 Category: Kuwait
un-asks-india-to-review-citizenship-act-says-it-is-discriminatory-against-muslims_kuwait
UN Asks India To Review Citizenship Act, Says It Is Discriminatory Against Muslims The United Nations human rights office voiced concern on Friday that India's new citizenship law is "fundamentally discriminatory in nature" by excluding Muslims and called for it to be ... December 14, 2019 0 814 Category: India
View All
Popular Offers
jarir-bookstore-great-weekend-deals in kuwait
Jarir Bookstore Grea...
best-offers-are-waiting-for-you in kuwait
Best Offers Are Wait...
grand-hyper-offers in kuwait
Grand Hyper Offers
lulu-hypermarket-offers-from-dec-11-to-17 in kuwait
Lulu Hypermarket Off...
the-sultan-center-season-treats in kuwait
The Sultan Center Se...
Popular Events
12 Dec, 2019
0
174
Category : Music
12 Dec, 2019
0
135
Category : Other
27 Dec, 2019
0
135
Category : Entertainment
17 Dec, 2019
0
122
Category : Other
26 Dec, 2019
0
108
Category : Entertainment
Visit Visa
Visit Visa
Indemnity
Indemnity
Dependent Visa Driving License Project Visa Termination
Termination
Civil ID Crime News