KPC chief highlights transformation and innovation at oil sector forum

17/09/2025 03:42 AST

Kuwait Petroleum Corporation (KPC) CEO Sheikh Nawaf Saud Al-Nasser Al-Sabah on Tuesday underlined the importance of unifying efforts and building expertise among oil sector employees to enhance performance, strengthen the national economy and drive sustainable progress. Speaking at the opening of the annual oil sector leaders' forum, Sheikh Nawaf stressed that developing the technical and administrative skills of staff at all levels is essential for enabling the corporation and its subsidiaries to manage facilities and operations with efficiency, while keeping pace with global developments in the oil and gas industry.

He noted that the success of the sector depends on continuous investment in training, preparing a new generation of leaders, and promoting a culture of learning and innovation. He added that the volatility of global markets may require difficult but necessary decisions to ensure the competitiveness of KPC and reinforce its standing in global energy markets. Sheikh Nawaf pointed to the corporation's long-term strategies, including the KPC 2040 vision and the Energy Transformation Strategy 2050, which aim to redefine Kuwait's international role, diversify income sources, and maintain the country's position in both conventional and renewable energy.

Reviewing last year's achievements, he highlighted the start of oil sector restructuring, including the merger of Kuwait Integrated Petroleum Industries Company with Kuwait National Petroleum Company, and the transfer of liquefied gas filling plants to KNPC. He also noted the establishment of the Sustainability Sector to oversee energy and digital transformation strategies, while confirming that ownership of Kuwait Gulf Oil Company will soon be transferred to Kuwait Oil Company.

"The goal of comprehensive transformation is to build a stronger, more integrated entity able to address challenges and achieve strategic objectives," he said, emphasizing the need to promote innovation, digital solutions, specialized training, and teamwork. Sheikh Nawaf also announced the launch of the KPC Excellence Award, the first initiative of its kind to honor outstanding technical and administrative teams across the oil sector. For his part, Acting CEO of Kuwait Oil Tanker Company (KOTC) Sheikh Khaled Ahmed Al-Sabah affirmed the company's role as the national carrier of crude oil and derivatives, noting that it transported about 32 million metric tons of petroleum products and LNG last year.

He added that KOTC inaugurated solar power plants at its LNG filling branches in Umm Al-Aish and Shuaiba, with a combined capacity of nearly 7 megawatts, making it the first oil sector company in Kuwait to launch such a project. He said the initiative represents a strategic step toward energy self-sufficiency, reducing emissions and advancing Kuwait's carbon neutrality goals. The one-day forum brought together oil sector leaders to review achievements of the past fiscal year, while presenting future strategies and discussing challenges facing the sector.

KUNA