imported 2024-03-17 17:43:06
Kuwait’s oil and gas sector is one of the hardest to enter. Nonetheless, there are numerous ways for small and medium enterprises in the oil and gas services sector to capitalize on the opportunities in the sector. The companies can either enter into a JV, they can use an agency or service contract. Walid Al-Hashash, Chairman of AREF Energy explains, how the small and medium enterprises can enter Kuwait.
The following article will rank oil companies in Kuwait. Our oil companies in Kuwait list includes the largest and the best oil companies in Kuwait. No.1 oil company in Kuwait is traditionally Kuwait Petroleum Corporation, followed by its subsidiaries, NOC and KNPC. Introduction into the sector to better understand the context of the topoil companies in Kuwait.
The production of Kuwait Oil Company (KOC) has reached 3 million barrels per day through upgrading their logistics and production capacity.
Kuwait was on the forefront of exploration of renewable energy: mostly solar energy in the 70’s.
According to Walid Al-Hashash, Chairman of AREF Energy the main problem for the development of renewable energy in Kuwait is conventional energy subsidies.
Walid Al-Hashash exposes the investment strategy of one of the leading energy holding company in Kuwait. AREF energy is investing in niche oil & gas services sector technologies and companies, predominately in the MENA region.
AREF Energy, a leading energy investment holding in Kuwait sees stable oil prices in 2012 hovering around $110 per barrel due to consumption from the emerging markets. Nonetheless, Al-Hashash, chairman of the company warns that any geopolitical instability could create temporary oil price spike that would paralyze consumer confidence potentially causing another recession.
KPC’s vision is to be a secure supplier of oil for the world and to transform the company into an gas producer, while strictly adhering to corporate social responsibility. Farouk Al-Zanki addresses a key message on KPC’s vision.
Corporate social responsibility is a strategic issue for KPC. KPC is involved In many projects to contribute to the society such as Bayt Abdullah Children Hospice, scholarships for students, environmental projects and substituting LNG for oil is rapidly improving the air quality.
Kuwait currently enjoys robust economic growth. According to the latest report by Global Investment House Kuwait’s Real GDP expected to grow by 5.7% in 2011, 4.5% in 2012. Nevertheless, oil continued to dominate total exports of Kuwait in 9M2011, as it did with total government revenues.
Interview with Faisal Al Zahem, Chairman of Al Zahem International GroupThe problem we are facing in Kuwait today is the tendering system; to win your tender, you have to have the cheapest price for an accepted tender.
