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Page 1: Dialogue - Kuwait Petroleum Corporation news 87.pdfcommunication and tackling the substantial challenges facing the industry amid the current global economic crisis. The second event
Page 2: Dialogue - Kuwait Petroleum Corporation news 87.pdfcommunication and tackling the substantial challenges facing the industry amid the current global economic crisis. The second event

“Last month, Kuwait witnessed a number of important oil-related events which indicate its distinguished stature internationally, as well as KPC's prominent position among global oil companies. The first of these events took place when KPC hosted the 12th International Energy Forum with the participation of representatives from a variety of national and international oil companies, as well as others from leading financial firms and representatives of oil-producing/consuming countries, not to mention a wide variety of eminent experts. Participants in the forum discussed a number of issues relevant to promoting communication and tackling the substantial challenges facing the industry amid the current global economic crisis.

The second event was the 5th HSE Conference, organized by the American Association of Safety Engineers under KPC’s sponsorship. This demonstrated the corporation’s dedication to reinforcing HSE performance and supporting scientific research in this area.

In this context, I wish to express my gratitude to the HSE department for its programs and activities, which have been organized to ensure maximum benefits, and for its continuous communication with employees in order to gain understanding of their perspectives and obtain reassurance about their HSE knowledge.

Senior management HSE concerns have clearly shown its sincere drive to attain the high aspirations of KPC and its subsidiaries, which seek to ensure a pioneering HSE role in this domain in helping to fulfill KPC’s objectives.”

Saad Ali Al-ShuwaibChief Executive Officer

Dialoguewith the CEO

Page 3: Dialogue - Kuwait Petroleum Corporation news 87.pdfcommunication and tackling the substantial challenges facing the industry amid the current global economic crisis. The second event

In This Issue..

4Al-Shuwaib honors employees’

children’s academic achievements

10KPC hosts the largest international

energy ministers gathering

KPC News Team:Media Relations Dept.

Fax: 24994991Email: [email protected]

8Open Day activities

Events 2

HSE 5

Work Nature 7

In This Issue 10

Contributions 12

Health 14

Miscellaneous 15

KPC Society 16

Page 4: Dialogue - Kuwait Petroleum Corporation news 87.pdfcommunication and tackling the substantial challenges facing the industry amid the current global economic crisis. The second event

In His Highness the PM’s presence

KPC sponsors fifth IEEE GCC ConferenceUnder the patronage of His Highness the Prime Minister Sheikh Nasser Al-Mohammed Al-Sabah and sponsored by KPC, the 5th Institute of Electrical and Electronic Engineers (IEEE) GCC Conference began at the Shera-ton Kuwait Hotel on Tuesday March 17 under the title, ‘Inno-vative Engineering for a Sustain-able Environment’.

A number of senior political and diplomatic officials attended the conference’s opening ceremony, led by H.H. the PM Sheikh Nasser Al-Mohammed, Fahad Al-Mea’ the Deputy Head of Parliament

and a number of distinguished figures.

In his opening speech, Conference Chairman Eng. Abdulrahman Al-Ghunaim outlined the IEEE’s his-tory and functions, revealing that it comprises about 400 thousand members, all scientists, profes-sors, engineers and undergradu-ates, in more than 170 countries. Moreover, the institute publishes about 35% of refereed scientific periodicals in the field of electri-cal/electronic engineering, com-puter and informatics worldwide. The IEEE also supervises 350 sci-entific conferences annually, as

well as holding many local and international scientific gatherings and specialist workshops. In addi-tion, it issues official engineering approval for education, research and different sciences.

During the two-day conference, participants discussed wire-less technologies application for healthcare services, information security and its impact upon soci-ety and power system challenges in the GCC area.

As the conference drew to a close, the organization commit-tee thanked the conference pa-trons led by KPC.

� E V E N T S

Page 5: Dialogue - Kuwait Petroleum Corporation news 87.pdfcommunication and tackling the substantial challenges facing the industry amid the current global economic crisis. The second event

Saad Al-Shuwaib, KPC’s CEO received a high-level delegation led by Mr. Timbo, Idemistu Ko-san Company CEO on Sunday 1 March 2009. A number of senior KPC officials also attended the meeting.

The executives discussed a num-ber of issues, including means of collaboration, especially since the Japanese firm is a key partner of KPC in two vital projects in Asia, namely, Vietnam’s refinery and petrochemical plant. The two sides also discussed the compa-nies’ current status in light of the global economical crisis, the causes of this and the remedial measures being taken.

Both sides lauded the Vietnam-ese refinery’s accomplishments

The Japanese and Kuwaiti delegations

and follow-up activities, which are going according to sched-ule. Mr. Timbo also praised KPC employees’ efforts and perfor-mance, especially that of the International Marketing Sector, which he said has gained KPC

a superior regional and interna-tional status in the production and oil industry fields.

At the conclusion of the meet-ing, the two sides exchanged gifts and memorial shields to commemorate the occasion.

Saad Al-Shuwaib, KPC’s CEO met with a delegation represent-ing the Oil Sector Diabetes Asso-ciation on 10 March 2009 in his office. Zainab Al-Salamin, the As-sociation’s Head, led the delega-tion, which also included Dr. Am-

ani Haikal, Scientific Coordinator, Abeer Ali, Services Committee Head and Abdulaziz Abdulhadi, an association member.

During their meeting with the CEO, the delegates explained in detail their association’s objec-

Japan’s Idemistu company delegation visits KPC

Al-Shuwaib receives Oil Sector Diabetes Association delegates

KPC CEO with the association delegates

tives and the services it provides to oil sector employees. They also expressed their gratitude to Al-Shuwaib for his support during last year’s ceremony, held in Al-Ahmadi Hospital.

On his part, Al-Shuwaib thanked the association members for their efforts in serving the oil sector employees, assuring them of his continuous support for the associ-ation to increase diabetes aware-ness among staff. He also empha-sized the necessity of conducting studies and statistical analysis re-garding sector employees’ health and coordinating with the admin-istration of KPC’s subsidiaries to launch field visits in a bid to in-form their employees about dia-betes and the importance of early diagnosis.

�E V E N T S

Page 6: Dialogue - Kuwait Petroleum Corporation news 87.pdfcommunication and tackling the substantial challenges facing the industry amid the current global economic crisis. The second event

Under the sponsorship of Saad Al-Shuwaib, KPC’s CEO, and presence of Sheikh Talal Al-Kha-lid Al-Sabah, KPC’s MD Govern-mental, Parlimentary, Public and Media Relations, the corporation held a ceremony to honor the outstanding academic achieve-ments of its employees’ children at the Sheraton Kuwait Hotel on Wednesday March 10th.

In his brief speech, Ali Morad, the manager of KPC’s Public Re-lations Department, congratu-lated the students and wished them further success in their academic and professional lives,

encouraging them to use their studies and careers in the ser-vice of Kuwait. He also praised the vital role played by their mothers who, he said, gave their all in order to help their children accomplish this success and distinction.

On his part, Al-Shuwaib ex-pressed his happiness at being among a prestigious gathering of Kuwait’s children, all of whom were devoted to attain-ing the accomplishments re-quired by the country to fulfill its scientific, economic and so-cial growth.

He emphasized that KPC has long been dedicated to celebrating aca-demic excellence, encouraging and fostering students’ talents in order to help them reach the high-est scientific positions. This, he said, would enable them to serve Kuwait to the best of their capa-bilities.

On the role of mothers, Al-Shu-waib said: “No words of praise can describe the sacrifices of mothers, who give with love and without waiting for anything in re-turn. They are the wellspring of af-fection that nourishes future gen-erations to which we all aspire.”

Al-Shuwaib honors employees’ children’s academic achievements

� E V E N T S

Page 7: Dialogue - Kuwait Petroleum Corporation news 87.pdfcommunication and tackling the substantial challenges facing the industry amid the current global economic crisis. The second event

KPC sponsors ‘Fifth HSE and Loss Prevention Conference’Demonstrating its commitment to reinforc-ing HSE performance and supporting scientific research, KPC recently sponsored the ‘Fifth HSE and Loss Prevention Conference,’ which was held at the Radisson SAS Hotel by the American Society of Safety Engineers (ASSE) from March 17th-19th, 2009. This year’s confer-ence, held under the title ‘Moving to Sky’, was patronized by Kuwaiti Oil Minister Sheikh Ah-mad Al-Abdullah Al-Sabah.

Speaking about the conference activities, Eng. Fadhil Al-Ali, KNPC’s Health & Safety Manager and the president of the ASSE’s Kuwait branch, said: “This year’s conference saw the partici-pation of 500 representatives from Kuwait and

abroad and of a number of Saudi and Kuwaiti oil companies, as well as the Environment Pub-lic Authority, the Kuwaiti Firefighting Authority and other HSE companies.”

Delegates and guests at the two-day confer-ence discussed a variety of working papers re-garding HSE issues. There were also a number of workshops about the latest HSE, loss pre-vention and firefighting technologies, with a number of leading international experts deliv-ering lectures.

The conference’s schedule was as follows:

First session: A pre-conference workshop.

Second session: Speeches, lectures and work-ing papers presented during the conference.

Third session: An exhibition featuring equip-ment, devices and training programs related to HSE, firefighting and security.

�H S E

Page 8: Dialogue - Kuwait Petroleum Corporation news 87.pdfcommunication and tackling the substantial challenges facing the industry amid the current global economic crisis. The second event

Media Relations inaugurates ‘KPC Lens Team’

As part of its quest to improve KPC employees’ capabilities and qualify them to shoulder respon-sibility, the Media Relations De-partment under Sheikh Faisal Al-Jaber Al-Sabah’s sponsorship,

has launched ‘The Project Man-ager.’

Under this innovative concept, ev-ery employee from the aforemen-tioned department will choose a project to carry out, before naming

his or her work team from different occupational positions. The em-ployee will then allocate the project duties according to his\her vision in order to successfully accomplish the chosen project.

‘The Project Manager’: a new step in skills development

Under sponsorship of Sheikh Faisal Al-Jaber Al-Sabah, KPC’s DMD Gov-ernmental, Parliamentary, Public and Media Relations, the Media Rela-tions Department recently launched the new ‘KPC Lens Team‘ which aims to encourage KPC/subsidiaries’ employees to take up photography.In the speech he delivered to mark this occasion, Sheikh Faisal said: “KPC and its subsidiaries replete with photography talents and fans. Launching this team will help our KPC colleagues to break the cycle of routine and enjoy their hobby with-out security hassles when they take pictures of different oil facilities.”

Speaking about the new team, Taysir Al-Hamad, Operations and Support Services Team Leader and KPC Lens Team Leader explained: “Joining the team grants colleagues a num-ber of benefits including:• Attending a variety of events

which give the opportunity to learn professional techniques in this field;

• Exchanging expertise and dis-cussing photographic art;

• The opportunity to have work published in KPC periodicals;

• Photographing different oil facilities;

• Organizing activities for mem-bers;

• Holding photography-related lectures and symposiums; and

• Special photography equip-ment discounts.”

He further explained: “There are three suggested photography projects, namely:1. Photographing KOC’s ‘Desert

Spirit Reserve.2. Photographing the oil sector

complex.3. Photographing KNPC’s ‘Fun-

gal Plants Reserve'.

� E V E N T S

Page 9: Dialogue - Kuwait Petroleum Corporation news 87.pdfcommunication and tackling the substantial challenges facing the industry amid the current global economic crisis. The second event

The Accounts Department is a vital part of KPC, providing the corporation’s safety valve in all its financial dealings. The Acquisition and Documentary Accreditation Division shoulders the respon-sibility for opening direct com-munication channels with KPC’s customers. It is also in charge of supplying the corporation’s dif-ferent departments with required information.

‘KPC News’ met with the division’s Rodaina Al-Mulla, who explained its different roles, relations and work pressures.

What are your duties and the nature of your work?

I work in the Accounts Depart-ment- Acquisition Division regard-ing documentary accreditation. My duties within the division include:

• Direct connection with banks which KPC deals with and fol-lowing-up documentary ac-creditation on a regular basis.

• Communication with KPC’s ex-ternal offices to follow-up the workflow.

• Collaboration with Supply Ad-ministration to facilitate the movement of ships\tankers linked with documentary ac-creditation.

• Following-up money acquisi-tion due from KPC sales and

informing Sales Administration in case a customer defaults.

• Providing customers’ financial information for the Sales Ad-ministration.

• Since freighting/unloading op-erations are ongoing 24/7 de-spite vacations and time zones’ difference, our work nature de-mands overtime work in order to follow-up.

What are the difficulties\pres-sures you confront during your work?

Work difficulties are:

1. Time zones differences in some countries.

2. Some employees in Kuwait’s local banks are not available during vacations and official holidays, which hinders the workflow.

3. Limitation of our powers in taking some decision and pro-cedures, which obliges us to seek our coordinators consent at times that can be embarrass-ing.

As for pressures, they are repre-sented by the need to complete our tasks urgently and accurately. In addition, document amounts in-crease before and after weekends and official holidays. This forces us to finish and revise documentary

accreditation, bills and documents before handing them to banks.

The pressures have multiplied since the global economic crisis began as it has given us a hard time asking banks for additional reinforcements on documentary accreditation.

Did you go through training courses in your field of special-ty?

Thanks to the management, we have gone through several exter-nal and internal courses, but every department has its own require-ments and means in training and development. As for the Acquisi-tion Accounting Division, I suggest that management dispatches em-ployees to external workshops (at-tachments) to allow them to gain further insight into the nature of procedures, work flow and meth-odologies in rival companies. This enables us to accomplish the pio-neering levels which the Financial Sector targets.

Finally, how would you describe your job?

Working in this division, although it comes with great responsibility and confidentiality, has motivated me to prove myself in managing this section accurately and concisely. I am very happy with the nature of my work and with my colleagues’ and the management’s support.

The global economical crisis has given us hard times with banks for additional reinforcements on documentary accreditation

Time zone differences a headache for KPC finance team

Rodaina Al-MullaDocumentary Accreditation Accountant

�W O R K N A T U R E

Page 10: Dialogue - Kuwait Petroleum Corporation news 87.pdfcommunication and tackling the substantial challenges facing the industry amid the current global economic crisis. The second event

To reinvigorate and revitalize its employees, KPC held its annual open day at its Spring Camp in Al-Julai’a on Thursday 5 March 2009 which comprised a number of activities and contests.

The open day kicked off with a welcoming speech deliv-ered by Jamal Al-Nouri, KPC’s MD of Planning, on behalf of Saad Al-Shuwaib, KPC’s CEO, whose work schedule prevented him from participating.

Al-Nouri said: “I feel very happy to be among you at the open day which KPC organizes every year. Holding a recreational event where leaders and employees gather in a family-like atmosphere is a great accomplishment, and we thank all who have worked towards establish-ing it. Without a doubt, this gathering has a positive impact on KPC employees as it takes them away from their duties and responsibilities. It is a great incentive to revive their energy and vitality as such activities moti-vate them and leave unforgettable memories.”

He added: “In fact, the word “happy” does not reflect what is in my mind, especially when we are establishing an important base, that of the family principle. It brings numerous benefits for the employees and for the work atmosphere as well. Furthermore, it will remove em-ployee/manager boundaries through meeting outside work and away from official business.”

After that, Wafa’ Al-Za’abi, KPC DMD Planning deliv-ered an address in which she talked about KPC’s future plans, outlining them in the following points:

KPC employees enjoy Open Day contests and recreational activities

Who will win?

E V E N T S�

Page 11: Dialogue - Kuwait Petroleum Corporation news 87.pdfcommunication and tackling the substantial challenges facing the industry amid the current global economic crisis. The second event

Sheikh Nawaf Al-Sabah delivering his speech

A side discussion

Side chat prior to the activities

• KPC becoming a guaranteed and safe hydrocarbon source;

• Following the highest HSE and security standards in managing its operations;

• Achieving the highest perfor-mance levels and profitabil-ity;

• Upgrading KPC’s activities to an integrated form with one unified identity;

• KPC becoming the most fa-vored career fulfiller, and

• KPC becoming the role model to be followed in supporting society.

national Marketing, also com-mended the Marketing Sec-tor employees for their recent achievements, attained despite the substantial difficulties they face amid the current global fi-nancial crisis.

Khalil Ibrahim, KPC’s DMD of I.T., then welcomed the open day at-tendees. He also referred to the I.T. sector’s accomplishments, like developing the “Outlook” sys-tem, modifying the occupational positions of employees who at-tain scientific qualifications, re-vising the ‘Thanks Card’ system, updating the phone directory and uploading it to KPC’s site, as well as other projects.

Sheikh Nawaf So’od Nasir Al-Sabah, KPC’s DMD of Legal Af-fairs and General Counselor, also praised the attending employees and summarized the success of the Work Behavior Project launched by the company last year.

In the same regard, Abdullatif Al-Houti, KPC’s ex-MD of Inter-

Mohammad Salim, KPC’s Human Resources Team Leader, then gave a speech in which he talked about completed projects contributing to KPC employees best interest, while Qais Al-Doub, stressed the importance of sports and main-taining an appropriate weight to protect against illness and main-tain health.

Finally, Yousuf Al-Duwailah, KPC’s Gas and Oil Senior Accountant,

presented the religious lecture in which he elaborated on some ex-amples that benefit KPC employ-ees in their career and life.

After the lectures ended, the ac-tivities program specially orga-nized for the event by the Public Relations Team began.

E V E N T S �

Page 12: Dialogue - Kuwait Petroleum Corporation news 87.pdfcommunication and tackling the substantial challenges facing the industry amid the current global economic crisis. The second event

In a step highlighting Kuwait’s influential stature in the oil arena and its pivotal role in the energy domain and in main-taining international markets’ stability, KPC and the Ministry of Oil, along with the Interna-tional Energy Forum, organize the National Oil Companies- International Oil Companies Forum (NOC-IOC Forum).

The event will take place at the J.W. Marriott Hotel on March 30-31 March 2009, under the patronage of His Excellency the Oil Minister Sheikh Ahmad Al-Abdullah Al-Sabah, with a number of NOC as well as IOC representatives participating.

The IEF, the world’s largest re-curring gathering of Energy

Ministers, contributed to the forum’s organization. The fed-eration is unique in that mem-bers include not only IEA and OPEC countries, but also Rus-sia, China and India.

The objective of the forum being held in Kuwait, is to achieve NOC-IOC collabora-tion and partnership, as well as

Kuwait hosts prestigious international energy experts’ gathering

10 I N T H I S I S S U E

Page 13: Dialogue - Kuwait Petroleum Corporation news 87.pdfcommunication and tackling the substantial challenges facing the industry amid the current global economic crisis. The second event

promoting dialogue on some of the key issues facing the oil industry (both NOCs and IOCs) in light of the financial crisis currently affecting the global economy. The aim of the event is to formulate some recom-mendations on how NOC-IOC cooperation could guarantee energy supplies and help in meeting the need for more transparency and procedures to control dealings in the fu-tures markets.

Through meeting to discuss their common concerns, the

energy experts are seeking to bring about a consensus that contributes to:

• building a convergence of views regarding future en-ergy challenges,

• improving decision-making capabilities, and

• encouraging policies which foster price/market stability and guarantee meeting en-ergy needs worldwide.

The IEF is unique not only in its global perspective and scope, but also in its approach. In ad-

dition to informal plenary dis-cussions, the IEF provides an important venue for bilateral contacts between top-level executives from the energy industry as they participate in the forum’s activities.

Finally, it is important to laud the IEF’s efforts to capitalize on the combined efforts of six diverse international organiza-tions (APEC, EUROSTAT, IEA, OLADE, OPEC and UNSD) to improve transparency in oil markets through its ambitious Joint Oil Data Initiative – JODI, especially since the IEF coun-tries also account for more than 90% of global oil and gas supply and demand.

11I N T H I S I S S U E

Page 14: Dialogue - Kuwait Petroleum Corporation news 87.pdfcommunication and tackling the substantial challenges facing the industry amid the current global economic crisis. The second event

Novel methods of measuring financial indexes and ratios

Ayman DeibisCost & Budget Senior Analyst

There are a number of overlapping factors that affect financial indexes. In order to understand financial indexes and ratios, therefore, we must comprehend these intertwining factors and relations. Here, we will focus primarily on Return Over Assets (ROA) and Return Over Equity (ROE).

ROA analysis:

This ratio expresses the company’s\establishment’s ability to use its assets to generate profits. The higher this ratio is, the better the establishment’s ability to exploit its assets.

If we add sales revenue to the equation in the numerator and denominator, then we get the following:

Obviously, the equation outcome is still the same but:

profit margin = net profit \ sales revenue

Moreover, assets turnover rate = sales revenue \ average total assets,

therefore we can deduce that

ROA = profit margin X assets turnover rate.

However, corporations and establishments recognized by high fixed investments (which need a relatively long period) in operational capacity are subject to a restraint on their production capacity, as they have an upper limit to achievable assets turnover rate.

This is the case in the oil sector establishments which require substantial investments, not to mention being susceptible to high risks. Hence, such companies have to achieve high profits to increase the ROA.

ROE analysis:

This ratio defines the returns which shareholders obtain through investing in a company. It is considered one of the most important profitability ratios used since on the basis of ROE, shareholders decide whether to continue their activity or transfer to other investment fields achieving appropriate returns.

From shareholders’ perspective, appropriate returns are equal to a risk-free income rate, plus a risk-

payment which differs according to different activities and investment contexts.

The risk-free income rate is a 100% guaranteed income where the investor is not exposed to any threats whatsoever. Usually, the income rate for treasury bonds is used as a risk-free income rate under a zero inflation ratio.

As for the risk-payment, it is that part of income the investor demands for enduring additional risks when investing in fields vulnerable to fluctuations.

By adding both sales revenue and average total assets to the ROE equation:

Again, the final result remains intact although we can notice that:

profit margin = net profit \ sales revenue and

assets turnover rate = sales revenue \ average total assets (as mentioned previously),

and we have already inferred that the previous quantities multiplication gives the ROA.

As for the third fraction, it is called the 'financial leverage'.

Hence: ROE = ROA x financial leverage

The financial leverage reflects to which extent assets are financed depending on shareholders equity.

Based on the previous elaborations, the ROE is linked with the establishment’s ability to create an income through assets usage. It is also connected with its capacity to benefit from the financial leverage to organize income on shareholders equity.

As we know, ROA =net profit

average total assets

ROA =net profit

sales revenue

sales revenue

average total assetsX

As we know, ROE =net profit

average shareholders equity

ROA=net profit

sales revenue

sales revenue

average total assetsX X

average total assets

average shareholder equity

1� C O N T R I B U T I O N S

Page 15: Dialogue - Kuwait Petroleum Corporation news 87.pdfcommunication and tackling the substantial challenges facing the industry amid the current global economic crisis. The second event

OPEC International collaboration system

The Organization of Petroleum Exporting Countries (OPEC) was established by the gov-ernments of Iran, Iraq, Kuwait, KSA and Venezuela in 1960. These countries agreed to es-tablish OPEC as an organiza-tion during the Baghdad Con-ference which was held in the period from 10-14 September that year. After that, nine other countries joined OPEC: Qatar (1961), Indonesia (1962), Libya (1962), UAE (1967), Algeria (1969), Nigeria (1971), Ecuador (1973), Gabon (1975-1994) and Angola (2007). During its first five years, OPEC’s headquar-ters were located in Geneva but the organization’s base moved to Austria’s capital, Vienna, on September 1, 1965.

OPEC was established with the purpose of coordinating and unifying petroleum policies among its members to (1) se-cure fair and stable prices for oil producing countries (2) guaran-tee regular effective supplies

for consuming countries (3) at-tain high returns for investing sectors in this industry, and (4) defend oil producing countries’ best interests in the interna-tional oil market dominated by multinational oil corporations. In the 20th century, these were known as “the Seven Sisters.”

The 1970s

OPEC thrived during this peri-od: its members controlled local oil industry sectors and had the upper hand in defining crude oil prices in the international markets. Some crises emerged during this period regarding oil prices, however, namely, the oil boycott imposed by Arab coun-tries in 1973 and the Iranian revolution in 1979, which was fed by major market mood-swings. Oil prices during these two crises soared.

OPEC countries’ presidents and government leaders held their first summit in Algeria in March 1975 and during this period,

in 1971 to be precise, Nigeria gained OPEC membership.

The OPEC basket consists of eleven standard crudes. These are Saharan Blend (from Alge-ria), Minas (from Indonesia), Iran Heavy (from the Islamic Republic of Iran), Basra Light (from Iraq), Kuwait Export (from Kuwait), Es Sider (from Libya), Bonny Light (from Nigeria), Qa-tar Marine (from Qatar), Arab Light (from Saudi Arabia), Mur-ban (from the UAE) and BCF 17 (from Venezuela). Since the basket is a blend of heavy and light crudes, its price is usually less than 'Brent' and 'West Tex-as'. OPEC relies on this basket arithmetic average in its produc-tion policies. The differing rela-tive density, sulfur content and geographical location between these crudes reflects in different prices for each of them. Hence, some OPEC members receive oil at prices considerably lower than the standard crudes prices announced by the media.

In our previous issue, we introduced the wider concept of oil reserve to our readers. Today, in this issue, we will discuss OPEC.

1�O I L I N F O R M A T I O N

Page 16: Dialogue - Kuwait Petroleum Corporation news 87.pdfcommunication and tackling the substantial challenges facing the industry amid the current global economic crisis. The second event

Pomegranates

Pomegranates are mentioned in the Holy Quran more than once, with the Almighty say-ing: “In them will be fruits and dates and pomegranates” (that is, in two of the four gardens prepared for each of Heaven’s residents. Of course, Heavenly fruits are similar to Earthly ones in name only).

One of the most popular fruits, the pomegranate’s nutritional features makes it stand out.

It contains citric acid, protein, sugar, alkaline substances, a number of vitamins, fibers and mineral elements that aid physi-cal vitality.

The pomegranate has a high nu-tritional value and is believed to be an effective remedy for many

illnesses. Hence, it is advised to drink two cups of pomegran-ate juice daily to treat diarrhea, headaches and intestinal inflam-mation. Moreover, the fruit’s skin is used with ginger as a remedy for nausea and vomit-ing. Even its seeds are beneficial, being used to eliminate physical fatigue and raise energy levels.

Recent studies have proved pomegranates to be a good re-source of antioxidants, which play a crucial role in defending the human body against many diseases. These include condi-tions affecting the heart and blood vessels, such as arterio-sclerosis, since the antioxidants in pomegranates decrease cho-lesterol levels. They also repel tapeworm and combat neuras-

thenia as well as mucosal swell-ings.

Sometimes, pomegranate is added to food to prevent dys-pepsia and to add a tempting flavor. It also assists in prevent-ing gout and nephrolith.

Researchers advise women to eat pomegranates when they reach the menopausal age to protect them from heart and arterial diseases, as well as os-teomalacia and breast cancer, mainly because of their capa-bility to treat cancer cells with a “self-destruction” method, leaving healthy cells intact.

Pomegranates are also believed to cure severe fevers, chronic di-arrhea, headaches, myopia and hemorrhoids.

the ultimate health food

1� H E A L T H

Page 17: Dialogue - Kuwait Petroleum Corporation news 87.pdfcommunication and tackling the substantial challenges facing the industry amid the current global economic crisis. The second event

Tricked!For some people, April 1st is a day traditionally dedicated to performing practical jokes which aim, in their viewpoint, to break the daily routine. I experienced this at first hand last year when I received a call from an unknown number, with a strange woman telling me, “Congratulations, your account number was entered into the monthly draw and you’ve won one million Kuwaiti Dinars!” Of course, she got the bank name right. This was a shock to the system like nothing else, but the moment that I saw the calendar I realized that I had been caught out with an April Fool trick.

April FoolCelebrated on April 1, this day is marked by the playing of light-hearted practical jokes and pranks. Nowadays, it’s not confined to individuals, with the media often making its own contribution. It is an intrusive cultural event in our Arab community as such acts could lead to substantial psychological damage. The aim behind these deeds is to “enjoy” other people’s reactions and even their susceptibility and gullibility. Some internet sites also take part in this occasion, e.g. the search engine Google.

AprilThe name of this month is derived from the

Latin words ‘Aprilis’ or ‘aperire,’ meaning

“to open,” in reference to its being the

season when trees’ leaves and flowers’

buds begin to “open.” It also comes from

the Etruscan name Apru. In the Levant, this

month is called Nisan, while in Tunisia and

Algeria it’s known as Afril. In the Maghreb,

meanwhile, it’s called Yebrear according

to the Amazigh calendar but its beginning

differs from April.

1�M I S C E L L A N E O U S

Page 18: Dialogue - Kuwait Petroleum Corporation news 87.pdfcommunication and tackling the substantial challenges facing the industry amid the current global economic crisis. The second event

For your Opinions& Suggestions

It is the pleasure of the Media Relations Department to extend its heartiest thanks to all the colleagues who contributed to KPC News past issues. We will be more than happy to receive even more of your contributions and ideas which will further bolster constructive cooperation and continuous progress. For more details, please contact: Haya Al-Randi - Tel: 4785, Alia Al-Jasmi - Tel: 4789, Jaber Al-Sabah - Tel: 4866

[email protected] [email protected] [email protected] more information please contact Miss Dalal Al-Nouri : Tel. 4782 – [email protected]

Promotions

New-Comers

Munirah Al-EneziCompensation Department

Sulaiman BukhadhourService Department

Ayed Al-FadhliMarketing Planning

Abrar BarounSupply Operations

Souad FadelSales Middle Distillates

Sarah Al-TharbanStrategic Planning Department

Bassel AbdullahBunker Sales

Ali Al-AbdeenCost and Budget Department

Salah Saleh TaqiPublic Relations

Hadeer Al-HusainiAccounts

Nawal Al-DousariGovernment & Parliament Relations

1� K P C S O C I E T Y