Kuwait Petroleum Corporation (Arabic: مؤسسة البترول الكويتية) is Kuwait's national oil company, headquartered in Kuwait City. The activities of Kuwait Petroleum Corporation (KPC) are focused on petroleum exploration, production, petrochemicals, refining, marketing, and transportation. KPC produces about 7% of the world's total crude oil. In 1934 KPC received the first Kuwait Oil Concession Agreement after it was originally formed by the Gulf Oil Corporation and the Anglo-Persian Oil Company. In 1975 the state signed agreements with British Petroleum and Gulf and after its shares were progressively increased, Kuwait Petroleum Corporation was founded on 27 January 1980 as an umbrella company, integrating KOC, KNPC, KOTC and PIC and effectively placing them under government control. Between 1983 and 1987 KPC acquired most of Gulf Oil's refining operations in Western Europe. In 1992 KPC began to operate in Spain and in 1994 the company acquired BP's Luxembourg assets. More information...
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