Shell Announces Global Strategic Partnership with KPI

Royal Dutch/Shell Group of Companies (Shell) has signed a memorandum of understanding (MOU) with Kuwait Petroleum International Limited (KPI) to explore opportunities worldwide to develop and implement joint downstream investments. The MOU builds upon the relationship that Shell and Kuwait have fostered over the past 50 years.

Shell and KPI will explore opportunities across the entire downstream value chain, from supply and refining, to distribution and marketing of petroleum products. They will focus on opportunities in geographic areas showing strong fundamentals in the downstream, including high growth in demand for petroleum products.

"This strategic partnership will seek opportunities around the world for leveraging Shell's global downstream experience with Kuwait's hydrocarbon resources and growing downstream investments," said Rob Routs, Shell Executive Director Downstream. "We believe that our combined resources and experience will strengthen those projects we decide to jointly develop."

"In Shell we have found a partner with global reach, local relationships and tremendous experience in managing joint ventures in all parts of the downstream," said Abdullatif Al-Houti, KPI President. "This agreement will help to catalyse our ambitious strategy for growing our downstream business through strategic investments, based primarily on the supply of Kuwait hydrocarbons. By working together, we will have a competitive edge that will benefit both KPI and Shell for the foreseeable future."