Public details are limited, however the Kuwait Petroleum Corp., certainly one of the world’s biggest oil corporations in certainly one of the biggest oil-producing nations, is developing a widescale ecommerce initiative.
The national oil company of Kuwait announced an ecommerce initiative as one a part of a multiyear digital transformation plan.
Kuwait Petroleum Corp.’s recent ecommerce platform
“KPC has introduced a brand new electronic commerce platform for the oil sector, aiming to boost relationships between the corporation, its subsidiaries, and its partners each domestically and internationally,” in keeping with the Kuwait News Agency in a translated post on EconomyMiddleEast.com.
Multiple details, including a launch date, technology development partners and the fee of the project, have yet to be released.
Also missing are details on what the ecommerce platform will do for the Kuwait Petroleum Corp. and the way it should hook up with the Middle East and global oil industry.
Initial milestones for the platform
Within the meantime, work has been underway since 2022 on the Kuwait Petroleum Corp.’s ecommerce push. Up to now, the project employs about 158 staff, has 26 committees and serves 7,000 users.
“The success of digital transformation projects relies on three key aspects: effective change management, collaborative teamwork, and a commitment to excellence,” the Kuwait News Agency reported. “The initiative has resulted in a unified system that facilitates digitalization and import operations while reducing risks and ensuring the integrity of knowledge and data related to purchases.”
Kuwait Petroleum produces about 7% of the world’s total crude oil and generates annual revenue of about $100 billion.
Currently, Kuwait’s oil production capability is 2.9 million barrels day by day and is predicted to achieve 3.2 million as soon as 2025.
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