Latest news with #KNPC
Kuwait Times
4 days ago
- Business
- Kuwait Times
Weyay Bank offers KNPC cashback for SELECT cardholders
KUWAIT: Weyay Bank, Kuwait's first digital bank, is excited to announce a new exclusive offer designed to support its allowance customers who own their SELECT card. In collaboration with Kuwait National Petroleum Company (KNPC), SELECT cardholders will now enjoy a 10 percent cashback at all KNPC stations across Kuwait. This collaboration underscores the Bank's commitment to providing practical support for students' daily expenses, especially those related to transportation. It also reflects the Bank's dedication to offering innovative digital banking solutions that seamlessly integrate with the dynamic lifestyles of Kuwaiti youth. 'The core idea behind launching the SELECT card and membership is to enhance the student experience and provide them with benefits that continuously evolve with their lifestyle,' stated Fawaz Al-Nakib, Campaign and Partnership Manager at Weyay Bank. 'Our collaboration with KNPC embodies this commitment by delivering tangible, direct offers that benefit students in their daily lives, particularly in transportation, which is a fundamental part of their routine.' SELECT cardholders In addition to the KNPC offer, SELECT cardholders continue to enjoy a wide array of exclusive benefits: • Food Delivery Cashback: A 40 percent monthly cashback on orders placed through platforms like Jahez. • Coffee Perks: 30 percent cashback on orders made via the Caribou Coffee app. • Exclusive Telecom Offers: special, competitively priced packages from stc Telecom Company through the digital store within the Weyay app. • Travel Discounts: Up to 10 percent on Economy and Premium Economy flights and 5 percent on Business Class when booking with Emirates Airline. • Fitness Savings: discounts of up to 30 percent on gym memberships at popular fitness centers such as Flare Fitness and Shift Lagree. All Weyay allowance customers can easily obtain the SELECT membership and card. A single step within the Weyay app activates the membership upon their first student allowance transfer and deposit into their Weyay account. SELECT cardholders can then immediately start using their digital card through the app, unlocking a new world of benefits with ease.
Zawya
4 days ago
- Business
- Zawya
Weyay Bank offers exclusive KNPC cashback for SELECT cardholders
Weyay Bank, Kuwait's first digital bank, is excited to announce a new exclusive offer designed to support its allowance customers who own their SELECT card. In collaboration with Kuwait National Petroleum Company (KNPC), SELECT cardholders will now enjoy a 10% cashback at all KNPC stations across Kuwait. This collaboration underscores the Bank's commitment to providing practical support for students' daily expenses, especially those related to transportation. It also reflects the Bank's dedication to offering innovative digital banking solutions that seamlessly integrate with the dynamic lifestyles of Kuwaiti youth. "The core idea behind launching the SELECT card and membership is to enhance the student experience and provide them with benefits that continuously evolve with their lifestyle," stated Fawaz Al-Nakib, Campaign and Partnership Manager at Weyay Bank. "Our collaboration with KNPC embodies this commitment by delivering tangible, direct offers that benefit students in their daily lives, particularly in transportation, which is a fundamental part of their routine." A World of Benefits for SELECT Cardholders In addition to the KNPC offer, SELECT cardholders continue to enjoy a wide array of exclusive benefits: Food Delivery Cashback: a 40% monthly cashback on orders placed through platforms like Jahez. Coffee Perks: 30% cashback on orders made via the Caribou Coffee app. Exclusive Telecom Offers: special, competitively priced packages from stc Telecom Company through the digital store within the Weyay app. Travel Discounts: up to 10% on Economy and Premium Economy flights and 5% on Business Class when booking with Emirates Airline. Fitness Savings: discounts of up to 30% on gym memberships at popular fitness centers such as Flare Fitness and Shift Lagree. All Weyay allowance customers can easily obtain the SELECT membership and card. A single step within the Weyay app activates the membership upon their first student allowance transfer and deposit into their Weyay account. SELECT cardholders can then immediately start using their digital card through the app, unlocking a new world of benefits with ease.
Arab Times
15-05-2025
- Business
- Arab Times
Kuwait's solar energy powers 16m gas cylinders a year
KUWAIT CITY, May 15: Acting Chief Executive Officer (CEO) of Kuwait Oil Tankers Company (KOTC) Sheikh Khaled Al-Sabah has announced that Kuwait is now producing 16 million gas cylinders annually using solar energy through the Umm Al-Aish and Shuaiba plants, which have a combined production capacity of seven megawatts without using electricity from the national power grid. This is considered a significant move towards using solar energy to generate electricity in order to reduce reliance on electricity loads. Speaking at the inauguration ceremony for the conversion of production in both plants to solar power, Sheikh Khaled Al-Sabah affirmed that this step is in line with the strategic plan of the country to reduce carbon emissions and achieve carbon neutrality by 2050. He described the project as a vital part of the ongoing effort to reduce reliance on conventional energy and limit environmental impact. He also highlighted the aspiration of the company to expand its oil tanker fleet, which currently includes 31 vessels. He revealed a comprehensive strategy is being developed and will be announced soon, reaffirming that KOTC continues to meet all marketing demands and remains a key player in the energy logistics of the country. He added the shipping operations of KOTCH remain stable, even amid global trade tensions, thanks to strategic planning for crisis scenarios. He confirmed that the current trade war has not affected the markets of Kuwait Petroleum Corporation (KPC). 'Our distribution and marketing operations are built on long-term, strategic relationships,' he asserted; while stressing the commitment of the country to fulfill all international contracts. He added Kuwait maintains a strong overseas presence with seven million barrels of oil stored in Asia -- three million in Japan and four million in South Korea. He disclosed that KPC has a comprehensive strategic plan to study markets and market needs, determine development capacity and increase vessels based on market data. Asked about the merger of the two gas plants into the Kuwait National Petroleum Company (KNPC), he confirmed that the integration of the Umm Al-Aish and Shuaiba gas plants into KNPC is moving forward as per an ambitious plan. He said KNPC currently provides gas to KOTC tankers, highlighting the synergy between national entities. On the other hand, Director of the Projects and Maritime Agency Group at KOTC Yousef Al-Khamis stated that the solar energy conversion project cost around KD1.9 million; indicating this investment is expected to save about 16,000 barrels of oil annually and generate 11,000 megawatts of clean energy; thereby, easing pressure on the national electrical grid. Al-Khamis also unveiled the plan to establish a third gas cylinder factory in Kabad, while the two existing plants can meet domestic demand until 2030. He said the expansion is part of the company's long-term strategy. He also addressed concerns about misuse of household gas cylinders by restaurants. 'We are coordinating with the Cooperative Societies Union and the Ministry of Commerce to implement mechanisms that prevent restaurants from using cylinders designated for residential use, instead of commercial cylinders,' he added.
Gulf Business
16-04-2025
- Business
- Gulf Business
Kuwait unites oil giants: Merger of KNPC, KIPIC begins
Image credit: KUNA The Kuwait National Petroleum Company (KNPC) has announced the commencement of the merger process with the Kuwait Integrated Petroleum Industries Company (KIPIC). Read- KNPC Chief Executive Officer and Acting CEO, Engineer Wadha Al Khatib, stated that the merger is based on well-studied legal and professional foundations aimed at strengthening Kuwait's oil sector companies under KPC. She emphasized that the initiative seeks to unite efforts based on each company's specialization, expanding their capabilities and enabling greater achievements. Impact of the m erger Al Khatib highlighted that the merger will ultimately result in a successful model for transitioning into a larger economic entity aligned with the strategic ambitions of both sectors and the achievement of Kuwait's Sustainable Development Goals (SDGs). She also noted that the rapidly evolving global oil and gas industries place a significant responsibility on Kuwait's energy sector to adapt and respond effectively to these changes. Furthermore, she reaffirmed the sector's commitment—through KPC and its subsidiaries—to continue meeting its obligations to clients while sustaining growth in line with Kuwait's leadership in the international energy industry. Strategic p lans of the s ector Al Khatib pointed out that the sector continually reviews its strategic plans and reassesses its goals to ensure the success of the merger, with a strong focus on measuring operational performance as part of its long-term objectives. Addressing employees, Al Khatib reaffirmed her commitment to keeping them fully informed about the upcoming steps, underlining that staff remain a top priority for KNPC's leadership and are vital to the success of its future goals.
Zawya
15-04-2025
- Business
- Zawya
Kuwait commences merger of state oil firms KNPC and KIPIC, Kuna reports
DUBAI: Kuwait has begun taking executive steps to merge two of its state-owned oil firms, news agency Kuna reported on Tuesday, as the OPEC producer seeks to restructure its energy industry. Kuwait National Petroleum Company (KNPC) plans to acquire Kuwait Integrated Petroleum Industries Company (KIPIC), Kuna reported citing KNPC Chief Executive Officer Wadha Al-Khateeb. KNPC is in charge of Kuwait's refining industry while KIPIC is responsible for facilities at the Al Zour refinery. The rapidly evolving global oil and gas industries place a great responsibility on the country's energy sector to adapt and enhance to such changing dynamics, Kuna cited Al-Khateeb as saying. She also reaffirmed the sector's commitment to fulfilling obligations to clients while sustaining growth in line with Kuwait's position in the international energy industry, Kuna reported. Concern about the impact of U.S. trade tariffs have created uncertainty for global oil markets, pushing Brent crude prices down by more than 20% within a week to a four-year low. Prices have since recovered some ground to about $66 a barrel from below $60. Kuwait's production capacity is over 3 million barrels per day, Kuwait Petroleum Corporation (KPC) CEO Sheikh Nawaf Saud al-Sabah told reporters in January. The wealthy Gulf state last year said it made a giant oil discovery with estimated reserves of 3.2 billion barrels. (Reporting by Jana Choukeir and Hadeel Al Sayegh; Editing by Gerry Doyle and Christopher Cushing)
