The forum aims at enhancing the performance and deepening the communication between the KPC and its subsidiaries.
• Sheikh Talal Al-Khalid: fruitful cooperation has helped the company to strengthen its position in the global field of maritime transport.
KOTC hosted the first forum for oil sector companies "Think-K" for fiscal year 2015/2016 in the presence of the chief executives, their deputies and groups' managers, which comes out of the strategic directions of KPC for enhancing performance and deepen communication and open channels of cooperation and exchange of experiences and information between the company and its subsidiaries.
Sheikh Talal Al-Khalid Al-Ahmad Al-Sabah, CEO of Kuwaiti oil tankers delivered a speech in which he said that the Kuwait Oil Tanker Company is the only national carrier not only for KPC but for Kuwait. The strategic importance of the company was highlighted when the State became the sole owner of the company in the year 1979, and that was out of the belief that there should be national fleet that serves the national oil companies regarding the transfer of Kuwaiti crude oil and hydrocarbon derivatives to all the customers of the company and Kuwait.
He stressed that the company has maintained its historical legacy represented by the national fleet, as the sea is considered to be Kuwait's economical lung, which was and still breathe with. Kuwait Oil Tanker fleet played a very important role in transporting crude oil and petroleum products in the darkest circumstances in the region during the Iran-Iraq war where Many of the tankers that were entering the region, including the company's fleet. It is by the grace of Allah that the carriers were able to carry out their duties despite the challenges. In addition to that, piracy in recent years could not prevent tankers from sailing and implementing contractual obligations to customers, and that is delivering shipments in a professional way, and all pirates' attacks were seized.
He added that the company kept pace with all the strategic and marketing requirements for owning ships with the completion of the third phase of fleet modernization plan. The company's fleet currently consists of 30 tanker, and it is expected that two tankers of liquefied gas join the company's fleet in the coming years as part of the fourth phase of the Plan of fleet modernization, which has the highest security and safety standards, where the average age of our fleet is currently about 8 years and it is considered to be modern compared to other fleets around the world. He pointed out that tankers completed all its flights without any pollution accidents in recent times.
He stressed that the KOTC is a complement for the global marketing sector of KPC, which aims to market Kuwaiti crude oil, petroleum products and liquefied gas through the creation of a diverse and stable, long-term and rewarding global markets, and aims to achieve the maximum return for the State in the best ways possible. He also pointed out that the global marketing sector seeks to utilize the developments in the oil market and take advantage of them to serve the marketing and expansion in emerging markets to secure markets for crude oil and petroleum products and liquefied gas, and to continue to explore new markets and ensure that Kuwait gets a competitive position among international oil companies, an addition to seeking long-term contracts as there are several factors that affect the oil markets, the most important of them are supply and demand, the development of the global economy and political instability.
He explained that there is a direct relationship between global marketing sector and partner oil companies, as it markets crude oil, produced by KOC, KGOC and KUFPEC, in addition to marketing the gas and petroleum products produced by the refineries of KNPC, and to provide jet fuel for the Kuwaiti company to provide that aircraft fuel. Another thing is leasing and management of KOTC fleet commercially and supply petrochemical products to the Petrochemical Industries Company and to provide the Kuwait Petroleum International crude oil.
He added that Kuwait's crude oil exports amounted to about two million barrels per day for the current year and went mostly to Asian markets, as international marketing sector signed important C & F contracts to be implemented through the use of the KOTC fleet. They include petroleum derivatives contracts for the Islamic Republic of Pakistan, the Republic of Bangladesh People's, and crude oil contract for PRC, and by that the usage of crude oil tankers reached 100%.
Sheikh Talal Al-Khalid stressed that the fruitful cooperation between KOTC and KPC enabled the company to strengthen its position at the global level in the field of maritime transportation. He also thanked the attendees who participated in the activities of the oil sector companies' forum Think-K and all those who contributed to the success of this event. He prayed that Allah protects Kuwait and its people from all harm under the leadership of His Highness the Emir and His Highness the Crown Prince may Allah save and protect them.
The forum events Think-K included several lectures. Mr. Nabil Bouresli, managing director of global marketing, presented a lecture on how the leader should communicate with the staff, and his ability to solve problems.
Mr. Walid Al-Bader, deputy managing director for marketing operations in KPC, talked about integration of projects.
Mr. Imad Abdul Karim, deputy managing director for marketing derivatives, and Mr. Jamal Loughani, deputy managing director for marketing crude oil, addressed the global challenges faced by KPC.
Mr. Ali Shahab Deputy, Chief Executive Officer of KOTC, provided an overview about the health, safety, security and the environment.
