The heads of the state-owned Kuwait Oil Co. (KOC) and Kuwait Foreign Petroleum Exploration Co. (Kufpec) will swap positions, Oil Minister Ali al-Omair said Nov. 4.
“There is a decision to circulate the management, yes," he told Reuters when asked about reports on whether there was a switch between the CEOs of the KOC and Kufpec.
KOC head Hashem Hashem will become CEO of Kufpec, whose boss Sheikh Nawaf al-Sabah will become CEO of the KOC.
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