Kuwait Petroleum Corp Names New Board

Reuters

KUWAIT, Dec 22 (Reuters) - Kuwait's national oil company, Kuwait Petroleum Corp (KPC), has named a new board, three weeks after the oil minister was replaced, a source familiar with the matter said on Tuesday.

The identities of the new board members were not immediately known, and comment could not be obtained from the KPC. Nizar al-Adsani will remain chief executive, the source said.

The reshuffle is not expected to mean any change to the oil policy of the OPEC member; Kuwait's oil policy is set by the country's Supreme Petroleum Council.

At the end of November, Kuwait appointed Anas al-Saleh as acting oil minister, replacing Ali al-Omair. At that time, sources said there had been friction between the KPC board and Omair on issues including major projects, mechanisms for managing the oil industry, and the return of former officials to their jobs at the company.

An official circular announcing the board reshuffle is expected to be issued after approval by the cabinet, the source said. The new board will seek to achieve stability in the oil sector and push ahead with projects, he added.

(Reporting by Ahmed Hagagy, Writing by Hadeel Al Sayegh; Editing by Andrew Torchia)

Copyright 2016 Thomson Reuters. Click for Restrictions.

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