“Kuwait Petroleum Corporation: New Horizons for National Oil Companies”

Abstract

Kuwait, in nationalising our production of oil, formed the Kuwait Petroleum Corporation (KPC) to operate as an integrated oil company with satelite specialised companies. Since its formation in 1980, KPC, like other suppliers, has had to cope with soft markets, low prices and the consequent reduced revenues and limitation on development. KPC's goals have been to both stabilise and maximise revenues and diversify its source. This has been facilitated through the use of the expertise in the public companies under its control. As a result KPC has invested US $4.5 billion in upgrading projects, acquired technology through purchasing Santa Fe International and entered downstream marketing successfully in Europe.