Kuwait Petroleum to make huge investment in European fuel market

Kuwait Petroleum International (KPI) is planning to increase their investment in the European market, mainly in storage terminals and the fuel retailing sector, reported Reuters.

In the Platts refining conference in Brussels, Khaled Al-Mushaileh, KPI's vice president Europe, said that the company viewed Europe as an important market and that they intended to expand in the retail and downstream sectors.

KPI currently operates a network of more than 4,000 Q8 gas stations across six European countries: Italy, Denmark, Belgium, the Netherlands, Luxembourg and Sweden. It also owns two refineries in the continent.

"We are actually expanding in Europe with our retail and logistics. When you have a footprint, it's easier to expand the trade,” said Al-Mushaileh.

The company´s strategy for Europe will be focused on maximizing their refining capacity, developing storage terminals and lubricant blending infrastructure, and expanding their fuel retailing network.