Sources said the corporation’s strategy in the coming years will focus on supporting urgent priority projects that ensure stability and increase in oil and gas quantities. Sources stressed that KPC will pay more attention to expanding the petrochemical industries, indicating a study is being conducted to boost participation and acquisition of local and international petrochemical projects. Sources affirmed KPC has surplus oil refining materials, while the internal and external refineries of the country have a combined refining capacity of about 1.83 million barrels per day. Sources said KPC welcomes the entry of the Kuwaiti private sector into the petrochemicals industry to participate in the latter’s renaissance, taking into consideration that the industry is gaining global popularity. Sources confirmed KPC has local and international participation in the petrochemicals industry as follows:

49 percent of SKY Pic Global project located in South Korea, in partnership with a South Korean Company producing propylene glycol, propylene oxide and monomethyl ether among many others;
25 percent of SK Advance Company in South Korea – a propylene production company;
80 percent of Kuwait Paraxylene Production Company – a private company located in Kuwait that produces benzene and paraxylene;
42.5 percent of Equate Petrochemical Company whose products include polyethylene and ethylene glycol;
42.5 percent of Kuwait Olefins Company which produces ethylene glycol;
33.3 percent of Gulf Petrochemical Industries Company in the Kingdom of Bahrain, in partnership with Saudi Arabia and Bahrain producing ammonia, urea and methanol;
46 percent of Kuwait Styrene Company, which produces styrene.