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  • Essay / Kuwait Oil Tankers Company - 1594

    It was in 1957 that innovative and dedicated minds met and decided to embark on a new journey in the field of oil industry. It was not easy for Kuwait Oil Tankers Company to establish itself in the existing market because the Arab States already has several companies dealing in this sector and most of them have great support and international camaraderie; However, the management and leaders of this organization quickly proved their vision and hard work. Most experts believe that the company showed potential from the very beginning of its activity. Although working in the oil and gas sector is not an easy task in the current scenario, as it is one of the most crucial areas of business and requires a truly innovative approach, especially when the The company is supposed to deal with the transportation of oil and gas by sea. The company is primarily involved in the ownership and management of oil tankers engaged in the transportation of crude oil, refined petroleum products and liquefied petroleum gases (LPG). In addition, it also operates a shipping agency branch, acting as the exclusive agent of all oil tankers calling at the Kuwait seaport, as well as a gas branch for the filling and distribution of LPG cylinders intended for local industry and domestic consumption. The importance of this company can be observed. with the fact that the government also decided to be a partner of the Kuwait Oil Tankers Company in the years 1976 and contributed to the capital of the company which represented more or less forty-nine (49) percent of the total shares. The story of their success is not limited as we can see that after three years, in 1979, Kuwait Oil Tankers Company decided to make a new change and started the...... middle of paper. ..... What is your opinion on new and existing competitors, and where do you see them as your future competitors?Interview AnalysisMohammed AlTuwaijri was really optimistic about the future of his company and he was of the opinion that the idea of ​​scarcity of natural resources is still a myth and nothing has yet been proven, and also because deposits of natural resources are still being discovered in enormous quantities. He also pointed out that the Kuwait Oil Tankers Company has enjoyed good and healthy business since its establishment and therefore he does not see any major change in this trend. Mohammed AlTuwaijri also said that Kuwait Oil Tankers Company does not believe in monopoly. He claimed that only competition can improve the level of production in the market and therefore he is not afraid of competition, rather he encourages new entrants in this sector..