Special Report: Oil and Gas Sector in Kuwait
Although there is a lot of talk about planning for the “time after oil,” the “black gold”, along with gas, remains the primary source of income for the Kuwaiti government.
Banks in Kuwait: Overview of the Kuwait Banking Sector
In 2012, the Kuwait banks are cleaning up their balance sheets as a response to the consequences of the financial crisis of 2008/09 that is most likely going to continue throughout 2012.
Kuwait: Analysis of Financial Markets
In 2012, the Kuwait banks are cleaning up their balance sheets as a response to the consequences of the financial crisis of 2008/09 that is most likely going to continue throughout 2012.
Kuwaiti Health-Care Sector: Current Trends
It has become common knowledge that basic health-care is provided free to Kuwaiti citizens. With a total population of 3.5 million people, of which a third are Kuwaiti nationals, the oil-rich Dawlat al-Kuwait, the State of Kuwait, had so far few problems paying for doctor visits.
Kuwait: Banking Sector Banking on Home-Made Challenges
Although the well-capitalized Kuwaiti banking sector has digested the financial crisis by bringing down the share of non-performing loans (NPLs) and getting back to profits, the political ups and downs as well as the economic (oil) monoculture in the northern Gulf state prevent the sector from achieving its full potential.
Diabetes in Kuwait: Special Report on Alarming Rates of Diabetes
Fighting Diabetes is one of the biggest challenges the Gulf healthcare sector has to deal with. The Dasman Diabetes Institute aims to prevent and to mitigate the impact of diabetes in Kuwait.
Kuwait: Investment Environment to Remain Challenging
According to the independent rating agency, Capital Standards, “There are a total of 100 investment companies operating in Kuwait, with 54 operating within the confines of the Islamic Sharia provisions and the rest operating as conventional investment companies.”
Tareq Al-Wazzan – Biography
Tareq Al-Wazzan: Biography
Mr. Al-Wazzan, Managing Director and CEO of AREF Energy Holdings, has held this position since 2007. During that time he has guided the company in its investment decisions and operating philosophy to a point where it was recently awarded an international BB+ rating by Capital Standards. Factors leading to this award were low debt, a highly liquid balance sheet and the diverse nature of its holdings, resulting in a high risk tolerance.
Mr. Al- Wazzan has been involved in all phases of the oil supply chain and global marketing throughout his varied career in the petroleum industry. This ranges from crude oil sales, thru refinery planning and operation, refined products marketing and customer relations. Indeed, his early experience in crude oil sales served as a foundation on which he built his extensive career, matching refinery operations to meet world wide demand and environmental issues, competitive analysis, and product marketing strategy.
He exhibits proven expertise in the following areas:
Sales and Marketing, with his ability to identify and pursue opportunities, negotiate complex marketing contracts, and create value maximized pricing;
Technical Analysis, creating clear financial models based on marketing analysis;
Leadership, with his ability to win commitment from varied groups on complex strategies and corporate goals;
Communications, providing clear, concise presentation of complex ideas and plans to management, international customers and employees.
Prior to moving to AREF Energy, Mr. Al- Wazzan, held a succession of increasingly important management posts over his 23 years with the Kuwait Petroleum Corporation, focusing on the Far Eastern Markets. An eleven year varied sales path lead to his appointment in 1995 as Coordinator of Crude Oil Sales as covered earlier. A brief stint as Manager of the Tokyo Regional Office preceded his appointment, in 1999, as Manager of Crude Oil Sales, the core activity of the corporation.
For three years, 2003-2006, he was Far East Regional Manager. Based in Tokyo, his responsibility included all Hydrocarbon sales to China, Taiwan, S. Korea and Japan. His final position at KPC was Market Research Manager. As such, he served on the KPC long/short range strategic planning team and instigated several creative ‘think-tank’ projects. While with KPC he served as board member of the Kuwait Foreign Petroleum Exploration Company (KUFPEC)
He holds a BSc in Business Administration, San Diego, USA, and has been a member of the Kuwait delegation at OPEC, and on many international conference venues such as Enterprise Risk Management, IT, Health, Safety & Environment and Personnel Development Planning. He is also a board member of Kuwait Energy, and chairman of the board of Higleig Petroleum and Investments.
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Kuwait’s Tourism: Kuwait as a Tourism Destination
As a holiday destination, the norther Gulf state does not make it into dinner conversation about hot-spots like Egypt and Jordan, or “Fly-Buy-Dubai.” Only at a second glance, does Kuwait offer a variety of urban life, Arab culture, desert tourism, and maritime sports.
“Big Opportunities in the GCC for Small and Medium Energy Companies” says AREF Energy
Few listed stocks in the Gulf have performed since the start of 2012 as well as AREF Energy Holding. The Kuwaiti firm invests in the oil and gas industry only in line with Islamic law (Shari’ah). Marcopolis looks behind the scenes of this exceptional energy company.