CEO, Petrochemical Industries Company
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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