Petrochemical Industries Company

Petrochemical Industries Company (PIC) is a subsidiary of Kuwait Petroleum Corporation that manufactures and markets polymers, aromatics and fertilisers in Kuwait and internationally.

Founded in 1963, the company has been a key player in the drive to extract value from Kuwait’s hydrocarbons resources and has grown to become one of the largest petrochemicals companies in the GCC. Today, the company owns and manages production facilities in the Middle East, North America and Europe, and it markets its products worldwide.

Output composition:

• Polymers: 61%
• Aromatics: 23%
• Fertilisers: 16%

Around 60% of PIC’s output is sold in international markets. The company is targeting production of 14.5 million tonnes per year (tpy) of base petrochemicals and 1.2 million tpy of downstream derivatives by 2040.

In addition to developing production assets of strategic value to the domestic industry, over the years, the company has entered into joint venture agreements with international companies such as Dow, SK Advanced Company and Wanhua Chemical Group. This has enabled PIC to expand its know-how and increase its operational capabilities, as well as gain access to fast-growing markets.

Main subsidiaries:

• Kuwait Aromatics Company
• Kuwait Olefins Company
• Kuwait Styrene Company
• Kuwait Paraxylene Production Company
• Qurain Petrochemical Industries Company
• Gulf Petrochemicals Industries Company
• SK Picglobal
• ME Global
• Equate

The company’s stated long-term strategy is to expand its core business by developing greenfield and brownfield projects domestically and abroad. PIC has a global marketing network for the placement of its products, and the company has established itself as a dependable worldwide supplier of quality petrochemicals. At the same time, PIC is firmly integrated in Kuwait’s downstream segment via domestic partnerships and investments.

Company website: www.pic.com.kw