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Our Business Portfolio

PIC is a global manufacturer and marketer of petrochemicals and is the petrochemical arm of Kuwait Petroleum Corporation (KPC). We seek to maximize the value of Kuwaiti hydrocarbons and to be a leading player in the global chemicals industry. We are doing this by pursuing growth in petrochemicals, both inside and outside of Kuwait, with joint venture partners and with a focus on high-growth products and regions. We also are pursuing opportunities for full and effective integration between our petrochemical operations and KPC's operations.

PIC Products

Currently, 70 percent of the petrochemical products in the PIC portfolio are produced in Kuwait. The main chemical products include fertilizers, olefins and aromatics.

PIC owns two fertilizer plants for the production of ammonia and urea and has invested in their modernization. We also own a 100,000 metric ton per annum propylene plant, which is operated through EQUATE, a joint venture. PIC markets fertilizer products from our own production and from joint venture Gulf Petrochemical Industries Company (GPIC). We also market propylene and paraxylene produced in Kuwait. In addition, PIC has partnered with several national and foreign companies to form joint ventures. These joint ventures have diversified our product offerings, led to expansion into global markets, and increased local sector participation in petrochemicals.

PIC Petrochemical Joint Ventures

Joint Venture Companies

Ownership Structure

Activities

EQUATE Petrochemical Company

PIC: 42.5%; Dow Chemical Company (Dow): 42.5%; Boubyan Petrochemical Company: 9%; Al-Qurain Petrochemical Industries Company, 6%

Petrochemical facilities in Kuwait are integrated around EQUATE, having common utilities and infrastructure. EQUATE is the common operator of PIC's propylene plant; ethylene and ethylene glycol for The Kuwait Olefins Company (TKOC); The Kuwait Aromatic Company's (TKAC) paraxylene and benzene plants; and styrene monomer from the Kuwait Styrene Company (TKSC). It also produces polyethylene and ethylene glycol.


The Kuwait Olefin Company (TKOC)

PIC: 42.5%; Dow: 42.5%; Boubyan Petrochemical Company: 9%; Al-Qurain Petrochemical Industries Company, 6%

Owns the Olefins II Complex
Produces Ethylene Glycol

The Kuwait Aromatics Company (TKAC)

PIC (40%); KNPC (40%); Al-Qurain Petrochemical Industries Company (20%)

Owns Kuwait Paraxylene Production Facility
Produces paraxylene and benzene

The Kuwait Styrene Company (TKSC)

TKAC (57.5%) and Dow (42.5%)

Produces styrene monomer
Obtains benzene feedstock from TKAC and ethylene from TKOC

Al-Qurain Petrochemical Industries Company (QPIC)

PIC (10%)

 

Gulf Petrochemical Industries Company (GPIC)

PIC (33%); Government of Bahrain (33%); Saudia Arabia's SABIC (33%)

Produces ammonia, urea and methanol

MEGlobal

PIC (50%); Dow (50%)

Owns plants in Canada that produce mono-ethylene glycol and di-ethylene glycol
Based in Canada

MEGlobal BV

PIC (50%); Dow (50%)

Markets ethylene glycol produced by the partners and production by MEGlobal BV
Based in Dubai

Equipolymers Company

PIC (50%), Dow (50%)

Manufactures PTA/PET and markets PET
Operates two plants in Germany

A Clear Growth Path

Our strategy of diversifying our portfolio and investing in petrochemicals inside and outside Kuwait has allowed us to achieve a competitive position regionally and grow into new markets globally. Looking ahead, PIC continues to seek opportunities for geographic diversification by searching for investments in high-growth markets such as Asia. We also will continue to aggressively invest in our core olefins portfolio with the objective of increasing overall market share, and look for value-creating partnerships with our KPC sister companies and other leading companies.


PIC has significantly grown its presence both regionally and internationally through the years, contributing to the growth of the petrochemical industry in Kuwait.

PIC Annual Report

Read more about PIC's strategy and performance.


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