Latest news with #KOC
Arab Times
a day ago
- Business
- Arab Times
Kuwaiti workforce in KOC now reaches 87%
KUWAIT CITY, July 28: In confirmation of a recent report published by the daily on the rising employment rates in oil companies affiliated with the Kuwait Petroleum Corporation (KPC), the Kuwait Oil Company (KOC), through its Recruitment and Termination of Service Taskforce, has announced the final list of successful candidates in its latest recruitment drive. The announcement targeted male applicants holding bachelor's degrees in geology and petroleum engineering, as well as diploma holders in technical specializations. According to informed sources, KOC hired a total of 151 employees in 2024, including 72 new Kuwaiti graduates, 51 experienced Kuwaiti professionals, and 28 non-Kuwaiti employees. With these, KOC's total workforce now stands at 11,649, including medical and nursing staff. Kuwaitis now make up 87.85 percent of the company's overall workforce (including medical and nursing staff), while the proportion of Kuwaitis among non-medical staff has reached 93.8 percent. In addition, the percentage of Kuwaiti contract workers stood at 22.68 percent by the end of the fiscal year in March 2025.
Zawya
01-07-2025
- Business
- Zawya
Second phase of merging Kuwait oil companies underway
KUWAIT CITY - In preparation for the second phase of merging the subsidiaries of the Kuwait Petroleum Corporation (KPC), informed sources revealed that the executive phase of merging Gulf Oil Company with Kuwait Oil Company (KOC) has begun through the transfer of the corporation's shares in the capital of the Gulf Oil Company to KOC. They highlighted a meeting held recently between the two companies' CEOs to start making administrative decisions regarding this matter. The sources explained that the second phase, following the initial merger of KIPIC with the Kuwait National Petroleum Company, is part of KPC's strategy to restructure the oil sector. This phase commenced with a meeting between KOC's CEO Ahmed Al-Eidan, acting CEO of Gulf Oil Company Bader Al-Munaifi, and representatives from the oil sector's leadership and workforce. The meeting also discussed the implications of Decision No. 60/2024, issued on May 5, 2024, concerning the transfer of KPC's ownership of shares. ' Al-Eidan affirmed the importance of job stability and preserving all benefits of Gulf Oil employees. It was decided that the legal and administrative status of Gulf Oil Company will remain unchanged at this stage, including the company's name, logo, and operational sites at its headquarters and joint operations in Khafji and Al-Wafra. The sources clarified that Al-Eidan indicated the change is limited solely to the transfer of share ownership, with KOC becoming the owning entity instead of KPC. Consequently, the highest authority will be the Board of Directors of KOC, without affecting daily operations or the current institutional structure. Arab Times | © Copyright 2024, All Rights Reserved Provided by SyndiGate Media Inc. (
Arab Times
30-06-2025
- Business
- Arab Times
Second phase of merging Kuwait oil companies underway
KUWAIT CITY, June 30: In preparation for the second phase of merging the subsidiaries of the Kuwait Petroleum Corporation (KPC), informed sources revealed that the executive phase of merging Gulf Oil Company with Kuwait Oil Company (KOC) has begun through the transfer of the corporation's shares in the capital of the Gulf Oil Company to KOC. They highlighted a meeting held recently between the two companies' CEOs to start making administrative decisions regarding this matter. The sources explained that the second phase, following the initial merger of KIPIC with the Kuwait National Petroleum Company, is part of KPC's strategy to restructure the oil sector. This phase commenced with a meeting between KOC's CEO Ahmed Al-Eidan, acting CEO of Gulf Oil Company Bader Al-Munaifi, and representatives from the oil sector's leadership and workforce. The meeting also discussed the implications of Decision No. 60/2024, issued on May 5, 2024, concerning the transfer of KPC's ownership of shares. ' Al-Eidan affirmed the importance of job stability and preserving all benefits of Gulf Oil employees. It was decided that the legal and administrative status of Gulf Oil Company will remain unchanged at this stage, including the company's name, logo, and operational sites at its headquarters and joint operations in Khafji and Al-Wafra. The sources clarified that Al-Eidan indicated the change is limited solely to the transfer of share ownership, with KOC becoming the owning entity instead of KPC. Consequently, the highest authority will be the Board of Directors of KOC, without affecting daily operations or the current institutional structure. Al-Seyassah/Arab Times Staff
Yahoo
27-06-2025
- Sport
- Yahoo
Draft night steals, dumbest trades, Ace Bailey's future + Masai FIRED
KOC and Tom Haberstroh break down ALL of the fallout from the 2025 NBA Draft, including the big news that Masai Ujiri and the Toronto Raptors were parting ways. Both of the guys weigh in on the strange timing of that move. And speaking of moves, what was Joe Dumars thinking with the Pels trade-up to get Derik Queen? Tom says it must be the dumbest trade of the last DECADE! And KOC/Tom discuss Lottery winner Nico Harrison's quote about fortune favoring the bold, plus of course all of the latest talk surrounding the AWKWARD situation surrounding Ace Bailey and the Utah Jazz — plus so much more. Lock in! Ace Bailey (R) shakes hands with NBA commissioner Adam Silver (L) after being drafted fifth overall by the Utah Jazz during the first round of the 2025 NBA Draft at Barclays Center on June 25, 2025 in the Brooklyn borough of New York City. (Photo by) (Photo by) (0:57) Ace Bailey Utah Jazz drama Advertisement (13:24) Raptors fire Masai Ujiri (20:49) Did Pelicans make a HORRIBLE trade for Derik Queen? (29:29) KOC's favorite draft hauls (44:19) Pacers surprise draft of Taelon Peter (49:12) NBA champs OKC draft Thomas Sorber (52:53) Teams looking to take 'the next step' (56:53) Blazers draft Yang Hansen (1:02:03) BetMGM Rookie of the Year odds released (1:05:26) Are Mavs NBA title contenders now? 🖥️ Watch this full episode on YouTube Check out the rest of the Yahoo Sports podcast family at or at Yahoo Sports Podcasts
Arab Times
26-06-2025
- Business
- Arab Times
KOC eyes green economy with net-zero goal by 2050
KUWAIT CITY, June 26: Kuwait Oil Company (KOC) is conducting a comprehensive study on the green economy as part of its efforts to transition to clean energy and support the national goal of achieving net-zero carbon emissions by 2050. Sources told the newspaper that the study focuses on three key areas: the production of green hydrogen using renewable energy, the expansion of carbon capture centers, and the underground storage of carbon dioxide. Sources said this is one of several practical measures that KOC is pursuing to align its operations with global sustainability targets. In a related development, the Board of Directors of the Central Agency for Public Tenders (CAPT) has approved the request of KOC to cancel three tenders related to the supply of electrical power for industrial lift pumps and remote vertical manifolds in the southern and eastern parts of the country. The cancelled tenders were originally intended for the construction of power stations in zones 6, 10 and 12 (first tender); zones 8 and 13 (second tender); and zones 7, 9, and 11 (third tender). The cancellations were made under Article 55, Clause Seven of Public Tenders Law No. 49/2016. Sources indicated that this decision reflects the broader policy of Kuwait Petroleum Corporation (KPC) to rationalize expenditure and reduce operating costs, particularly given that many of the lift pumps currently rely on diesel-powered engines. 'The move also aligns with environmental goals to reduce carbon emissions across the oil sector,' sources added. Despite the cancellation of these tenders, KOC continues to modernize operations and improve production efficiency through the adoption of advanced global technologies. The company is also intensifying its development drilling program and accelerating the rehabilitation of idle oil wells. Notably, the percentage of idle wells was reduced from 14 percent to five percent over the past year, with approximately 2,107 wells repaired in 2024. This added an estimated 10,000 new wells and current oil production is averaging around 1,000 barrels per day. KOC officials have confirmed ongoing efforts to expand renewable energy integration into its operations. Hani Al-Saqabi, a renewable energy specialist at KOC, informed the newspaper that the company has long embraced scientific methods to boost production and reduce energy costs. He highlighted KOC's early adoption of renewable energy initiatives, including the launch of the Sidra 500 solar project in 2017—one of the region's pioneering ventures in clean energy. Ali Al-Harz, Chief Engineer of Technology Management at KOC, added that the company is actively pursuing multiple initiatives focused on solar and wind energy. He emphasized KOC's commitment to achieve net-zero emissions by 2050, stressing that the company is studying several pathways to ensure the amount of carbon emitted is offset by the amount captured or stored through clean energy technologies. 'These efforts position KOC at the forefront of the energy transition efforts of the country, as it seeks to balance traditional oil production with sustainability and environmental responsibility,' he added.
