The Kuwait Petroleum Corporation (KPC) and its subsidiaries continue investment in about 13 local and foreign companies, some of which are listed and others operational in various sectors of petrochemicals and support services for oil and gas production.
The value of these investments are put at 738.5 million dinars, says a local Arabic daily quoting financial data, adding the KPC monitors these investments to protect its ownership rights.
The oil sources said the KPC owns, directly or indirectly, a stake in the capital of the company that does not exceed 49.9 percent, whose headquarters are located inside and outside Kuwait.
The data showed that KPC’s largest investment is in SK Peak in South Korea worth 148.8 million dinars, as well as a stake in SK Advance with a value of 40.6 million dinars, which is the acquisition deal carried out by the Kuwait Petrochemical Industries Company to acquire a 49 percent of existing specialized petrochemical plants owned by the Korean company SKC.
The sources added, the KPC’s contributions to Al-Oula Fuel Company and Al-Soor Company for Local Fuel Marketing amount to 24 percent for each company, amounting to 17.1 million dinars for Al-Aula Company and 16.4 million dinars for Al-Soor Company; the investments of the Kuwaiti Company for Excavations amounted to 49 percent, with a value of 47.3 million dinars, while the investments of the Kuwaiti-Yemeni Company (Aden) amounted to 12.7 thousand dinars. The KPC has a 33.3 percent stake in the Gulf Petrochemical Industries Company, worth 52.22 million dinars.
As for the investments in Equate Company, which amounts to 42.5 percent, is worth about 79.2 million dinars, as well as the Equate Marketing Company in Bahrain, the value of the KPC investment is estimated at 87.1 thousand dinars.
The data also showed that the investments of the Kuwait National Petroleum Company amounted to 50.8 million dinars, as well as the investments of KBC Holdings (Europe) amounting to 211.5 million dinars.