The CEO of Kuwait Petroleum Corporation (KPC) is stepping down this month after serving one three-year term. Hashem Hashem took the role in December 2018 (MEES, 8 February 2019), and will be replaced on an acting basis by Wafaa al-Zaabi, who has held a leading position in KPC for many years as the firm’s Managing Director for Planning and Finance.
In a speech to Kuwait’s oil sector to mark his retirement, Mr Hashem highlighted the start-up of heavy oil production (MEES, 3 December) and the resumption of production from the Partitioned Neutral Zone as key achievements. He also pointed to securing approval from the Supreme Petroleum Council (SPC) for a restructuring of KPC, saying that “we are now gradually implementing” the changes. This restructuring has been complicated by rival plans from parliament which advocates much more radical changes (MEES, 26 November). (CONTINUED - 138 WORDS)