International Downstream

Pursue Downstream growth outside Kuwait to grow earnings and create value.

A. Europe:

• Pursue performance improvement in order to achieve acceptable returns in line with the peer group, taking the following into consideration:
• Enter into investment opportunities that are commercially viable and have acceptable returns in line with the peer group, giving preference to investment opportunities that provide a secure outlet for Kuwaiti hydrocarbons.
• Explore merging current KPC’s operations in Europe with competitors’ operations in major European markets through a JV/Alliance or multiple JVs/Alliances in order to improve performance and achieve future growth.
• Divest non - profitable operations.

B. Outside Europe:

• Enter into investment opportunities that are commercially viable and achieve acceptable returns in line with the peer group, taking the following into consideration with focus on investing in major high growth strategic markets especially in Asia and in regions that strengthen and sustain KPC’s current markets giving preference to investment opportunities that provide a secure outlet for Kuwaiti hydrocarbons.
• Study different options to dispose of Kuwaiti heavy crudes.