239.15 million KD in net profits for KEPCO during 2025/2026
Al-Khatib: An exceptional year of qualitative transformations to achieve Kuwait Petroleum Corporation’s vision for the energy sector
Najah Bilal
The results of Kuwait Integrated Petroleum Industries Company’s (KIPIC) operations for the fiscal year 2025/2026 showed a net profit of 239,152,417 dinars, compared to a net profit of 52,250,585 dinars in the previous year, according to the company’s annual report for the fiscal year ended March 31, 2026, issued yesterday, which documents a pivotal stage in the company’s history.
KIPIC CEO Wadha Al-Khatib confirmed that the past year was an exceptional one marked by qualitative transformations that embodied our firm commitment to achieving the vision of the Kuwait Petroleum Corporation (KPC) and the State of Kuwait regarding the energy sector. She noted that what was achieved this year was not a matter of chance, but rather the fruit of harmonious collective effort and close cooperation with the Kuwait National Petroleum Company (KNPC).
She expressed her deep pride and admiration for all her human resources, who exert sincere efforts and work with high efficiency to develop the company and advance its operations. She explained that the Zour refinery, despite the challenges faced in processing medium heavy crude oil, achieved a refining rate of 422,947 barrels per day, exceeding the plan by 21.97% during the past year. This demonstrated exceptional technical efficiency in diversifying the crude oil mix, as we successfully processed "Noc 1" and "Heavy Crude" at sustainable rates.
KIPIC also strengthened its global competitive position by exporting its first shipment of low-sulfur aviation fuel (ATK) in accordance with the highest international standards. Additionally, it secured guarantees for the continued export of low-sulfur diesel fuel (ULSD) meeting French specifications and standards.
Regarding the LNG import facilities, Al-Khatib clarified that they continued to play their vital role as a primary energy artery for the state. The company received 85 tankers with a total cargo volume of 13.18 million cubic meters of liquefied natural gas. A historical peak was recorded on August 19, 2025, with the dispatch of 1.609 million standard cubic feet in a single day, equivalent to 1.576 billion British thermal units, confirming our constant readiness to meet local energy needs.
She revealed her pride in the Technical Services Group receiving the Excellence Award from the Kuwait Petroleum Corporation, in recognition of its role in handling heavy oil, as part of the Corporation’s initiative and in collaboration with other sister companies.
In the field of sustainability and digital transformation, Al-Khatib stated that KIPIC is moving toward "carbon neutrality." The completion rate for the "Zour Complex Energy Management Services" contract reached approximately 86%, accompanied by the approval of the budget for the first phase of the solar energy system installation project at the Zour refinery. Furthermore, the green belt was expanded by planting more than 3,500 trees around the refinery. These steps collectively reflect our deep awareness of our environmental responsibility toward future generations.
Al-Khatib noted that the company continued to play its role within the strategy of the Kuwait Petroleum Corporation regarding the restructuring of the oil sector, through the merger of the company with the Kuwait National Petroleum Company (KNPC), to enhance the sector’s operational efficiency and rationalize expenditures. Both companies have made significant progress in implementing the merger process. The company did not neglect its role in investing in human capital, taking pride in achieving a Kuwaitization rate of 97.10% of the total workforce, which numbers 1,378 employees. We have been keen on developing these competencies through more than 449 local and international training programs.
She added that the company has spared no effort in strengthening its health, safety, and environmental management system by training new batches of firefighters, as well as enhancing close security cooperation with state institutions. The company also organized awareness health campaigns for its employees and those of its contracted service providers, which included proactive medical examinations for the early detection of common ailments such as high blood pressure, heat stress, hepatitis, and work-related pressures. These campaigns received notable engagement from the workforce.
Reaffirming our commitment to supporting local content, the company’s local spending reached 31.2% of total operational and capital expenditures by the end of March 2026. We also continued fulfilling our humanitarian role through a number of community initiatives during the holy month of Ramadan, embodying the genuine values of compassion and solidarity ingrained in our society.
Human Resources
Al-Khatib expressed optimism about completing the integration process with the Kuwait National Petroleum Company (KNPC) in the coming months, and achieving fruitful synergy between the Zour Refinery and the Mina Al-Ahmadi and Abdullah Port refineries. Our focus remains on advancing digital transformation and keeping pace with global developments in the energy transition. We will also continue our efforts to enhance operational efficiency, and to foster and encourage innovation in the refining industry and across various related support sectors.
She stated that we will exert further efforts to develop and strengthen the capabilities and skills of our human resources, as they are the foundation from which we achieve our accomplishments and the guarantee of our continued competitiveness alongside major global players in the oil refining and gas liquefaction industries.
