2040
Strategy
Petrochemical Industries Company (PIC) is the petrochemical arm of Kuwait Petroleum Corporation (KPC). The activities of PIC are focused on manufacturing and marketing of petrochemicals and Fertilizers, operating through its own assets and Joint ventures located inside and outside Kuwait.
PIC’s long term strategy is to play a key proactive role in both strategic management and scaling up its portfolio, leveraging partnerships for value-addition. KPC’s directions for growth of petrochemicals are defined around consolidating the business position as a leading player in petrochemicals :
- Expand core portfolio inside and outside the State of Kuwait through greenfield and brownfield projects to achieve leading position globally.
- Expanding into downstream derivatives linked to base petrochemicals portfolio.
PIC long term vision is “To be a global petrochemical company committed to adding value to Kuwait’s national resources”
As part of its strategic responsibilities PIC conducts its business through performance monitoring of existing businesses and portfolio growth by :
- Developing opportunities and carrying them through feasibility study stage to project development
- Marketing of selected products
- Continuous business strategic management and performance monitoring of Joint Ventures
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Our overall objective is to achieve enhanced value, profitability and long term sustenance of all our business. Local skill development is an important function of our business plans, as we view it as an essential input towards self-reliance and long-term sustenance in our business.
Greenfield projects, Mergers and Acquisitions and value-adding integration between petrochemicals and refinery form an integral part of our business development activities.
With a view to achieve the 2040 strategy for Petrochemicals, PIC will endeavor to maintain
Efficient and Safe Operations
- Achieving Operational Excellence by driving efficiency in usage of energy and feedstock.
- Following best practices in asset maintenance to reduce unplanned shutdowns.
- Better integrating assets to increase synergies.
- Maintain highest standards in health, safety, environment and quality principles.
- Employing efficiency improvement initiatives like Six-Sigma, ISO, KM etc.
Meaningful Partnerships
- Leveraging value-adding partnerships in business development for enhanced performance.
Growing Research and Development/Technology
- Enhancing R&D/Technology functions to support business growth, products differentiation and expansion into downstream derivatives.
Customer Focused Marketing
- Better understanding of customers requirement and their applications.
- Efficient handling of marketing activities for customer satisfaction
- Enhancing marketing & supply chain functions by increasing regional presence and global footprint.
Circular Economy
- Participate in Circular Economy initiatives to address concerns relating to environment protection
- As a responsible producer PIC will collaborate with Stakeholders, Knowledge providers and Academia in this domain with a view to adopt sustainable circular and green petrochemical initiatives.
It is our endeavor to develop and maintain a business that adds value to local resources