Kuwait Petroleum Corp. chief steps down
Oil Minister Sheikh Ali Jarrah al-Sabah said in remarks published Thursday he has accepted the resignation of the chief executive officer of Kuwait Petroleum Corp. (KPC) Hani Hussein.
“I have accepted his resignation based on his personal wish,” Sheikh Ali told Al-Siyassah newspaper.
The minister said that Hussein’s term has expired “some time ago” but it was extended until he submitted his resignation on Wednesday.
The minister also said that he intends to introduce changes in the management of Kuwaiti oil companies by promoting young people to senior posts.
He did not say who would replace Hussein, who has served for about three decades in the emirate’s oil sector, and was promoted to the top post in August 2004.
KPC was established in the early 1980s to oversee the emirate’s oil industry inside and outside Kuwait. It has several subsidiaries operating in various fields of the oil industry.(AFP)