kuwait petroleum international

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Powerful, industrialized countries are not the only ones with economic and strategic clout. Kuwait has exploited oil as its principal resource to integrate itself into the global economy as a self-sufficient actor rather than a commodity exporter. Following Iraq's invasion in 1990-91, Kuwait was able to claim military assistance from states hosting its direct assets outside because to this bold economic approach.


Kuwait Petroleum International 

Kuwait Petroleum International Corporation was founded in 1983 and is a Kuwaiti petroleum company. It is the Kuwait Petroleum Corporation's international arm. The marketing and selling of fuels, lubricants, and other petroleum products to Europe is one of its most important businesses. The Kuwait Petroleum Company's global network includes 4000 fuel stations in seven European countries. It offers a high-end car wash service.




Study by (Chapman, 1995) titled " The Kuwait Petroleum Corporation and the Economics of the New World Order‏" Tetreault's book examines the Kuwait Petroleum Corporation's development in the context of domestic, regional, and global politics. She contends, contrary to popular belief, that transnational vertical integration under state control can be an ideal strategy for oil-exporting emerging countries, particularly those with limited resource endowments. This book is intended for executives in natural resource industries, economic and strategic planners in public and private organizations, and those responsible for the design and execution of national, international, and transnational economic policy; it also appeals to researchers with expertise in these areas.



Another study by Al-Sharrah, 1999 explains that In 1938, the Kuwait Oil Company, a joint venture between British Petroleum (United Kingdom) and Gulf Oil Corporation (United States) founded in 1934, discovered oil near Burgan. Eight oil wells were drilled in the Burgan oil field over the next four years. Although these wells contained commercial quantities of oil, the first shipment of Kuwaiti crude oil was transported in 1946. Commercial oil exploration and production has played a significant part in Kuwait's economic development since then. Kuwait Petroleum Corporation (KPC) was founded by an Emiri edict in 1980, and all oil businesses became its subsidiaries. All of the KPC's activities are carried out through its affiliates.


In addition to BP's Danish activities, between 1983 and 1987, KPC purchased most of the refining and marketing operations of Gulf Oil in Western Europe. In order to administer these interests, in London Kuwait Petroleum International (KPI) was founded. 1986 saw the introduction of the famous Q8 Brand. Other substantial expansions were made in the early 1990s, such as the purchase of the Italian mobile network. KPI started business in Spain in 1992 with a focus on worldwide expansion and bought BP's Luxembourg assets two years later. With a refining joint venture with AGIP in Milazzo, KPI also entered the italian market and invested further in retail stations in Italy. Belgium has made further investments. 



With a refining joint venture with AGIP in Milazzo, KPI also entered the italian market and invested further in retail stations in Italy. In Belgium, additional investment was undertaken and the establishment of OKQ8, the biggest fuel retail market player in Sweden was brought about by a new joint venture with OKF. As profitability was not sustained, KPI decided in 2004 to abandon the UK market. However, the company has extended its market position in the Netherlands by the acquisition of a portion of BP and Automat network (TANGO).


References

Chapman, D. (1995). The Kuwait Petroleum Corporation and the Economics of the New World Order. Mary Ann Tetreault. Marine Resource Economics, 10(4), 413–414. https://doi.org/10.1086/mre.


Al-Sharrah, R., & Alshimmiri, T. (1999). TOWARD MORE EFFECTIVE FOREIGN INVESTMENTS: A CASE STUDY OF KUWAIT PETROLEUM CORPORATION. The Journal of Energy and Development, 25(1), 113–125. https://www.jstor.org/stable/24808728?seq=1



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