Kuwait Petroleum International Explained
Kuwait Petroleum International (KPI), commonly known as Q8 (pronounced Cue-Eight, or Kuwait), is the international subsidiary of Kuwait Petroleum Corporation.[1] [2] It refines and markets fuel, lubricants and other petroleum products in Europe.
Established in 1983, it supplies 4,000 retail filling stations, as well as direct sales operations delivering fuel and heating oil to domestic and industrial users. Q8 also operates an International Diesel Service - a secure fuel card service supported by automated technology for international road transportation companies - in more than 700 located sites throughout Europe. Q8 also has a significant aviation business marketing jet fuel at more than 40 airports worldwide and a lubricants business with five lubricants blending plants, direct sales and marketing activities across Europe and export sales to over 75 countries worldwide.
History
- 1938 Discovery of oil in Kuwait
- 1975 Nationalisation of oil wells in Kuwait
- 1980 Foundation of Kuwait Petroleum Corporation
- 1983 Foundation of Kuwait Petroleum International - Acquisition Gulf Oil in the Benelux, Sweden and Denmark
- 1984 Acquisition of Gulf Oil in Italy
- 1986 Acquisition of Hays Petroleum Services (which had previously been owned by the Kuwait Investment Office, and used the Pace Petroleum brand) and Ultramar in the UK - Introduction of the Q8 brand
- 1987 Acquisition of BP in Denmark
- 1987 Acquisition of the Soviet-controlled Nafta in Britain
- 1990 Acquisition of Mobil Oil in Italy
- 1997 Joint Venture with Agip - Milazzo refinery in Sicily
- 1998 Joint Venture OK Petroleum and KPI in Sweden, establishing the OKQ8 brand
- 1998 Acquisition of BP retail Belgium
- 1999 Acquisition of Aral Belgium
- 2004 Acquisition of Tango unmanned sites from Petroplus in the Netherlands (62 sites), Belgium (4 sites) and Spain (1 site); these are typically now branded "Q8 Easy"
- 2004 Sale of UK operations to a consortium operating under the name Pace Petroleum
- 2005 Sale of Thai operations to the Malaysian company Petronas
- 2006 Sale of German operation (which had 37 service stations under the Markant brand) to Westfalen
- 2017 A joint venture between Kuwait Petroleum International and OQ was announced for the development of Duqm Refinery and Petrochemical Complex.[3] In the same year, OQ's subsidiary, Oman Tank Terminal Company (OTTCO), began construction of a crude oil storage terminal near Raz Markaz.[4]
The company's logo represents a dhow, a traditional Arab sailboat. The colours yellow, red and blue symbolise the desert, sun and sea respectively.
See also
Notes and References
- News: Q8 . dead . https://web.archive.org/web/20170724012424/http://q8.com/about.html . 2017-07-24 . 2016-08-23 . Q8.
- News: 11 November 2008 . Kuwait Japan joint oil refinery project in Vietnam . dead . https://web.archive.org/web/20181123065903/http://www.yourindustrynews.com/kuwait+japan+joint+oil+refinery+project+in+vietnam_15121.html . 23 November 2018 . 2008-11-15 . SteelGuru.
- Web site: Duqm Refinery and Petrochemicals Project. NS Energy .
- Web site: Ras Markaz Crude Oil Storage Terminal - Hydrocarbons Technology . www.hydrocarbons-technology.com.
