Kuwait Oil Tanker Company S.A.K
- Employer (Private Sector)
- 100-499 employees
About Kuwait Oil Tanker Company S.A.K
KOTC was founded in April 1957, by a group of Kuwaiti pioneer investors, who had a vision of how important sea borne transportation would be for the development of oil industry and how essential it becomes to exploit and discover oil in Kuwait.
As Oil becomes the major source of energy and the world demands increased substantially, its transport in crude, refined and liquefied product forms did indeed develop into an important part of the marketing activity. Thus in 1976, the government decided to become a partner to KOTC with a 49 % share capital, thereby providing a strong and vital boost to its development.
Three years later, in June 1979, in conformity with plans to bring all its oil operations, from the well to the ultimate consumer, under one corporation, the government acquired full control of the Company''''''''s capital.When Kuwait Petroleum Corporation (KPC) was established in January 1980, KOTC assumed responsibility for the transportation sector of KPC.