Senior Positions Are Likely To Change In The Oil Sector

The Minister of Oil and the Minister of Electricity and Water discuss the ministry's summer plan for 2021 with senior officials

Following the issuance of a decree to form a new board of directors, the Kuwait Petroleum Corporation will hold its first Board of Directors meeting next Sunday. Sheikh Nawaf Saud Al-Nasser has been appointed as the new CEO of the company.

Kuwait Petroleum Corporation and its subsidiaries are expected to restructure and/or appoint new senior employees in the next few days following a report citing oil sources that ushers in a new era of stability at the oil sector.

In addition, several senior positions are vacant in the oil sector, and they are expected to be filled soon, as well as the fact that the legal period for the board of directors of the companies has expired and was extended for a further three months.

According to the same sources, the oil sector needs stability in order to continue its progress over the next few months, especially since the sector has been experiencing administrative instability for a lengthy period due to the vacant position of the new CEO and the absence of the Board of Directors. This had never occurred before in the history of KPC.

After the completion of the huge environmental fuel project, sources expressed optimism about the Corporation and its subsidiaries.

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