A streamlining of Kuwait Petroleum Corporation’s (KPC) subsidiaries is edging closer. KPC has been considering merging a number of its subsidiaries since before the pandemic, but the economic impact of Covid-19 has made the financial case for streamlining more pressing.
This week, it was announced that Emad Sultan, CEO of KPC’s upstream subsidiary Kuwait Oil Company (KOC), has been appointed acting CEO of Kuwait Gulf Oil Company (KGOC) which oversees Kuwait’s upstream activities in the Partitioned Neutral Zone (PNZ). Mr Sultan will therefore head up all upstream operations in Kuwait, and the move appears a precursor to a merger of the two subsidiaries. (CONTINUED - 210 WORDS)