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Kuwait Oil Giant Says OPEC+ Supply Hikes Suggest Tighter Market
Kuwait Oil Giant Says OPEC+ Supply Hikes Suggest Tighter Market

Bloomberg

time09-07-2025

  • Business
  • Bloomberg

Kuwait Oil Giant Says OPEC+ Supply Hikes Suggest Tighter Market

Kuwait's state energy company said OPEC+'s latest super-sized supply hike and recent interactions with customers suggest persistent demand growth beyond the summer driving season. 'We're seeing some potential tightness in the market, which gives us an opportunity to capture market share in the future,' Sheikh Nawaf Al-Sabah, chief executive officer of Kuwait Petroleum Corp., told Bloomberg TV in an interview on the sidelines of the Organization of Petroleum Exporting Countries seminar in Vienna.

Second phase of merging Kuwait oil companies underway
Second phase of merging Kuwait oil companies underway

Zawya

time01-07-2025

  • 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. (

KPC approves new emergency leave rules
KPC approves new emergency leave rules

Zawya

time10-06-2025

  • Business
  • Zawya

KPC approves new emergency leave rules

KUWAIT CITY: In light of the tremendous efforts exerted by nationals working in the oil sector, their dedication to work and the desire of the oil leadership to provide more comfort that motivates them to join the sector, which has become an attractive environment for Kuwaiti talent of both genders; Chief Executive Officer (CEO) of Kuwait Petroleum Corporation (KPC) Sheikh Nawaf Al-Saud Al-Sabah issued a decision approving the amendment of the regulations for granting emergency leave, under the powers stipulated in the administrative regulations in force at the corporation, with the addition of some amendments, say reliable sources. Sources disclosed that the most important amendment states 'an employee or worker may be granted emergency leave not exceeding four days during the calendar year in the presence of emergency circumstances specific to him without submitting documents, provided that he obtains the approval of his direct supervisor before taking this leave. The leave shall be used separately, not interconnected, and shall not be linked to any other leave stipulated in the approved regulations.' Sources informed the newspaper that the aforementioned emergency leave shall be deducted from the 10 days allocated for emergency leave during the calendar year. The conditions also include standardizing the calculation of emergency leave, so that it shall be taken during the calendar year rather than the contractual year. The regulations in force regarding emergency leave related to the illness of a family member of the employee or worker, their hospitalization or a medical appointment shall be maintained. The resolution also requires the relevant authorities to take the necessary measures to implement this amendment. This resolution shall take effect at the beginning of July, and all conflicting resolutions shall be repealed, sources added. It is worth mentioning that the approval of the CEO of KPC to amend the emergency leave system is based on the recommendations issued by the Labor Relations Committee in its meeting no. 3/2025 held on April 8, 2025 regarding approval to amend the emergency leave system for workers in the oil sector, by allowing the employee or worker to go on emergency leave not exceeding four non-consecutive days during the calendar year, deducted from the 10 days approved for emergency leave with the approval of the direct supervisor before enjoying the leave. Sources also revealed that KPC will conduct administrative specialization tests for those who meet the conditions on June 13; indicating that the corporation -- through the job advertisements that it announces from time to time -- aims to attract competent manpower with the required specializations to ensure continuous leadership in the oil sector. Sources said there are more advantages for all employees in the companies affiliated with the corporation, especially since Sheikh Nawaf Al-Saud Al-Sabah always recommends to all leaders of the companies affiliated with the corporation the necessity of motivating the nationals working in the oil sector, while listening to all their demands in accordance with the regulations, especially since the approach of KPC is to implement a strategy to enhance reliance on national workforce and provide all the privileges that guarantee job security for nationals. Arab Times | © Copyright 2024, All Rights Reserved Provided by SyndiGate Media Inc. (

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