Presenter:

Nizar Al-Adsani
CEO
Kuwait Petroleum Corporation

Session:

Conference Inauguration & Executive Plenary Session

Presentation title:

The Economic Downturn and Its Effect on the Oil Downstream Industry

Description:

The current low oil price environment presents a unique opportunity for companies. Those that successfully identify their highest value opportunities and seize the moment could improve their resilience and competitive position and, be better prepared for an eventual rebound in oil prices. The lessons learnt in the energy business along with changing economic conditions, is to look at integration as a business necessity between refining and petrochemical.

The majority of future refining projects are implemented with an optimum extent of petrochemical integration to monetise and maximise the synergies.

We are currently updating KPC 2040 strategic directions. KPC is building downstream facilities targeting refining petrochemical integration, and producing high value environmentally clean products in Kuwait and abroad in promising markets.