Mo­ham­mad Al-farhoud

CEO, Petro­chem­i­cal In­dus­tries Com­pany

Refining & Petrochemicals Middle East - - POWER 50 -

Mo­ham­mad Al-farhoud as­sumed the role of CEO of Petro­chem­i­cal In­dus­tries Com­pany (PIC) of Kuwait in May 2016. Al-farhoud has been chair­man of the board of PIC since March 2013, when he was also ap­pointed man­ag­ing di­rec­tor for fi­nance and plan­ning at Kuwait Petroleum Cor­po­ra­tion (KPC), Kuwait’s na­tional en­ergy com­pany. Prior to join­ing PIC, Al-farhoud served in a num­ber of roles at KPC since 1986. He holds a de­gree in eco­nomics and ac­count­ing from Kuwait Univer­sity.

PIC is the petro­chem­i­cal arm of KPC. Over a span of 50 years, PIC has grown from a fer­tiliser ma­jor to a sig­nif­i­cant petro­chem­i­cal com­pany with in­ter­na­tional pres­ence. PIC’S aim is to support Kuwait’s na­tional ob­jec­tives through value ad­di­tion to lo­cal re­sources, both hy­dro­car­bon and man­power.

With the suc­cess­ful and prof­itable im­ple­men­ta­tion of Kuwait’s petro­chem­i­cal strat­egy, PIC has played an im­por­tant role in di­ver­si­fy­ing Kuwait’s econ­omy and max­imis­ing the value of hy­dro­car­bon re­sources through its di­ver­si­fied port­fo­lio of fer­tilis­ers, olefins, and aro­mat­ics. To meet this vi­sion, PIC has part­nered with sev­eral na­tional and in­ter­na­tional com­pa­nies to form joint ven­tures in or­der to di­ver­sify its prod­uct of­fer­ings, ex­pand into global mar­kets and in­crease lo­cal sec­tor par­tic­i­pa­tion.

KPC’S 2040 strate­gic di­rec­tion for petro­chem­i­cals de­fines the am­bi­tion to grow in the ‘core’ and ‘down­stream de­riv­a­tives’ busi­ness in­side and out­side Kuwait. PIC has em­bed­ded this in their strat­egy plan to ex­pand the com­pany’s port­fo­lio through green­field projects and ac­qui­si­tion ac­tiv­i­ties. The com­pany is cur­rently pur­su­ing two green­field projects in North Amer­ica, which are in ad­vanced stages. The com­pany’s sub­sidiary Me­global is build­ing a world-scale methyl eth­yl­ene gly­col project in USGC, which is now in the EPC phase.

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