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 top oil companies in Kuwait.
The oil and gas sector (Energy) is the most important economic sector in Kuwait. Kuwait’s economy heavily relies on oil which accounts for nearly half of its GDP, and over 90% of revenues. It also holds over 8.0% of the world’s proven oil reserves (104 billion barrels ). Rise in oil prices have kept the national budget revenue steadily growing, but on the long term Kuwait’s budget is unsustainable because of skyrocketing social and wage expenditures (over the last decade the expenditures increased by 400%).
Oil and gas sector is practically controlled by the government through Kuwait Petroleum Corporation (KPC) and is closed for the International oil companies (IOC) beyond enhanced technical partnership agreement. KPC is vertically integrated through its subsidiaries.
Many contracting companies depend on major oil and gas projects in Kuwait such as the 4th refinery Al Zhour and others, however the constant strife between the government and the parliament is blocking development progress. Further challenge is to develop the Northern fields and especially gas fields as Kuwait is currently burning valuable oil for power generation. Power consumption will grow 2.5% a year. In addition to the Big companies there are smaller upstream and downstream oil and gas contractors.
Marcopolis presents oil companies in Kuwait.
Top Oil Companies in Kuwait
Kuwait Petroleum Corporation (KPC)
Farouk Al Zanki | CEO
KPC is the largest corporation in Kuwait and 78th largest corporation in the world by revenues, larger than Deutsche Telecom, BMW, HSBC, Petronas, BHP Billiton, Microsoft, Boeing, Pfizer, Goldman Sachs, Lockheed Martin etc. KPC is has diverse business interests across the spectrum encompass all aspects of the hydrocarbon industry, from onshore and offshore upstream exploration through production and refining, marketing, retailing, petrochemicals, as well as, marine transportation. KPC has 10 subsidiaries (Kuwait Oil Company (KOC), Kuwait National Petroleum Company (KNPC),Petrochemical Industries Company, Kuwait Oil Tanker Company, Kuwait Aviation Fuelling Company, Kuwait Foreign Petroleum Exploration Company, Kuwait Petroleum International, Kuwait Gulf Oil Company, Oil Services Company, Oil Development Company).
Assets: USD 74,5 billion (2010)
Top Upstream Oil and Gas Companies in Kuwait
Kuwait Oil Company (KOC)
Sami Al Rushaid | Chairman
KOC is the largest subsidiary of KPC accounting for approximately 70% of KPC. In 1934 the Kuwait Oil Company Ltd. was established by the Anglo-Persian Oil Company, now known as the British Petroleum Company, and Gulf Oil Corporation, now known as Chevron Corporation. The Company activities had extended to include exploration operations, on-shore and off-shore surveys, drilling of test wells, and developing of producing fields in addition to crude and natural gas exploration.
Assets: Estimate USD 15-25 billion.
Kuwait Foreign Petroleum Exploration Company
Subsidiary of KPC engaged in exploration, development and production of crude oil and natural gas outside Kuwait.
Kuwait Gulf Oil Company
The Kuwait Gulf Oil Company (K.S.C) was founded on February 10, 2002 to represent the State of Kuwait in the Divided Zone. It began its primary role in that regard on January 5, 2003 when it took over the management of Kuwait DZ off shore area from the Arabian Oil Company Ltd. on the expiry of that company’s concession agreement.
Sara Akbar | CEO
Kuwait Energy is one of the fastest growing independent oil and gas exploration and production companies in the Middle East.
Top Downstream Oil and Gas Companies in Kuwait
Kuwait National Petroleum Company (KNPC)
Fahed Salem Al-Ajmi | Chairman
KNPC is the second largest subsidiary of KPC responsible for the downstream operations. It currently operates 3 refineries (Mina Abdullah Refinery, Mina Al Ahmadi Refinery and Shuaiba Refinery). 4th refinery Al Zhour, which is to become the largest in the world processing 600 000 barrels of oil a day is in the pipeline.
Assets: Estimate USD 9,3 billion
Kuwait Aviation Fuelling Company
Subsidiary of KPC.
Kuwait Petroleum International
Subsidiary of KPC. Q8 markets fuel via over 4,000 service stations across Europe and operates a direct sales operation, providing road fuel and heating oil. Our International Diesel Service is dedicated to the needs of international road transport companies; Q8Aviation provides jet fuel at more than 60 airports internationally and Q8 Oils manufactures and markets some of the world’s finest lubricants.
Top Transporation Oil and Gas Companies in Kuwait
Kuwait Oil Tanker Company
Nabil M. Bourisli | Chairman
The Company is mainly involved in the ownership and management of tankers engaged in the transport of crude oil, refined petroleum products and liquefied petroleum gases (LPG).
Top Service Oil and Gas Companies in Kuwait
Oil Services Company
Oil sector services company was established on 23 August , 2005 in the state of Kuwait as one of the specialized oil subsidiaries fully-owned by the Kuwait Petroleum Corporation ( KPC) to provide important supportive services that positively affect performance outcomes in oil sector.
Oil Development Company
Responsible for technical service agreements with IOCs. In 1991, a new three stage plan was presented which stressed the need for enrollment of the International Oil Companies in order to benefit from their technology and experience in the field of the development of Upstream Oil & Gas.
Top Petrochemical Industrial Companies in Kuwait
The sector makes a significant contribution to the economy, accounting for around 12% of industrial GDP in 2009. Moreover, its contribution rose quickly, from a share of just 2% in 2001. Of course, the industrial sector’s share of Kuwait’s total GDP remains small, at under 10% according to NBK Capital.
Petrochemical Industries Company (PIC)
Maha Abdul Rahman Mulla Hussain | Chairman
PIC is the 3rd largest subsidiary of KPC with a mandate to operate petrochemical plants (Fertilizer plant, Polypropylene plant and Aromatics Complex).
Qurain Petrochemical Industries
Mubarak Abdullah Al Mubarak Al Sabah | Chairman
Qurain Petrochemical Industries Company is part of the KIPCO Group . Established by Petrochemical Industries Company (“PIC”) to encourage more private sector engagement in major petrochemical projects in Kuwait and the rest of the world and, hence, utilize the available wealth to set up local industries that add value to the national economy and provide job opportunities for the people of Kuwait. Stakes ( EQUATE, Kuwait Oilfins Company 6%, Kuwait Aromatics Company 20%, United Oil Projects Company)
Boubyan Petrochemical Company
Boubyan Petrochemical is the first private sector company in Kuwait to invest in the petrochemical sector. It was established in 1995 as a public shareholding company, with the core business activity being direct investments in industrial projects, particulary petrochemicals. Stakes (EQUATE 9%, Kuwait Olefins Company 9%, Boubyan Plastics Industries…etc)
Established in 1995, EQUATE is an international joint venture between Petrochemical Industries Company (PIC), The Dow Chemical Company (Dow), Boubyan Petrochemical Company (BPC) and Qurain Petrochemical Industries Company (QPIC).
Top Oil and Gas Investment Companies in Kuwait
Aref Investment Group Company
AREF Energy Holding Company K.S.C.C. (AREF Energy), your investment partner in oil and gas services, was formed in September 2007 as a subsidiary of AREF Investment Group (AIG). On 29 December 2011, AIG sold 29% equity interest in AREF Energy to Development Enterprise Holding Company K.S.C. (Closed) (DEH), subsidiary of KFH.
On August 2012 DEH acquired additional 66.76% equity interest in AREF Energy from AIG and Others, in accordance with Capital Market Authority (CMA) Law No. 7 of 2010 and its Executive Regulations.
Consequently DEH is the new parent company by virtue of its holding 95.76% equity interest in AREF Energy and Kuwait Finance House (KFH) is the ultimate parent company. AREF Energy spearheads DEH’s objectives in the strategically important and fast growing energy business sector.
AREF Energy is listed on Kuwait Stock Exchange (ticker AREFEnrgy, formerly Excellent Education Co.) with a fully paid-up capital of KD 75 million.
AREF Energy has managed to acquire strategic stakes in a number of energy-related companies with operations geographically spreading over different regions. Islamic Sharia laws govern all of company’s current and future investments.
AREF Energy Credit Rating
Interview: Kuwait Oil Investments: Investing in Oil and Gas Technologies & Companies
Profile: AREF Energy | Investment Partner in Oil and Gas Services
Ikarus Petroleum Industries
Nader Hamad Sultan | Chairman
Ikarus is an investor in the Middle East energy industry. Ikarus was founded by National Industries Group (NIG) (Part of Kharafi Family Holding), the oldest and largest public sector industrial company in Kuwait. NIG retains a major shareholding in the company, giving Ikarus a solid financial backing. Investments: Sipchem, International Acetyl, International Vinyl Acetate.
Other Kuwait Oil and Gas Contracting Companies in Kuwait
Kuwait Drilling Company
Kuwait Drilling Company provides a wide range of world-class well-drilling and related services to the oil gas extractive industries. The company engages in all aspects of drilling, deep exploration, medium and shallow drilling activities, as well as work-over services that enhance the productivity of existing oil wells.
Triple E Corporation
The company is registered under Kuwaiti Commercial Law and operates through its subsidiary and associate companies covering Petroleum &Engineering Services, Infrastructure, Energy and Industrial Sector.
Al-Fares Petro Services
Al-Fares Petro Services Est. (Kuwait) a well-organized solid company started its growth by becoming partners with one of the leading worldwide companies in the field of sealing technologies and its solutions.GARLOCK. Now part of the leading industrial process products group EnPro Industries Inc. (NYSE:NPO).
National Petroleum Services Co. (NAPESCO)
Company providing cementing, simulation services, coiled tubing, nitrogen services, casing hardware, production & services tools, industrial cleaning services.
A.H. ALSAGAR &BROS
Abdulaziz Hamad Alsagar | Chairman
A.H. Al-Sagar participates in Oil & Gas Projects, equipment sales, tenders, inquiries and has excellent relations with the oil sector. Our company is appeared by all government and industrial authorities and with our excellent performance and proven track record, we are usually invited to bid for most supply projects fir the Oil & Gas sector in Kuwait.
Kuwait Pipe Industries and Oil Services company (KPIOS)
Established as Kuwait Metal Pipe Industries in 1966, Kuwait Pipe Industries and Oil Services Company (KSC) and known in short as KPIOS, is internationally recognized as one of the world’s leading pipe and pressure vessels manufacturers.
Safwan Petroleum Technologies Co. (SPETCO)
PETCO is firmly positioned as a total solutions provider to the Oil & Gas sector with a proven ability to resolve complex problems, across the value chain, from upstream to downstream production and process requirements including well testing, well diagnostics and PVT lab services.
Al-Rashed Group for Projects Holding Co.
Al-Rashed Group for Projects Holding Company is one of Kuwait’s leading family owned Groups. Through it’s subsidiary companies Al-Rashed Holdings has a number of strategic divisions focusing on: Major Oil, Gas, Utilities Power and Infrastructure Projects; Building Materials, Oil Sector Services, Equipment Supply, and Logistics as well as number of smaller specialist business units. Through its operating divisions Al-Rashed Holdings has built an outstanding reputation in these key markets working with its partner international companies in the State of Kuwait and the wider Gulf Region.