INDEPENDENT PETROLEUM GROUP KSCP

What INDEPENDENT PETROLEUM GROUP KSCP does

Independent Petroleum Group KSCP (IPG) is a Kuwait-based public shareholding company engaged in crude oil and petroleum products trading, logistics infrastructure investment, and shipping operations. Founded in 1976 and listed on the Kuwait Stock Exchange on December 10, 1995 (ticker SAK/IPG), the Group operates as a niche regional player with a footprint spanning the Middle East, Africa, the Mediterranean, and Asia. IPG holds stakes in twelve storage terminals with a combined capacity of 5.3 million cubic meters, an 82-kilometer petroleum products pipeline in Pakistan, and operates a fleet of three petroleum product tankers (M/t D&K Yusuf Al Ghanim, M/t Abdul Razzak, M/t Al-Betroleya) through its wholly owned shipping arm D&K Holdings LLC.

The company's business model integrates three revenue streams: (1) crude oil and petroleum products trading on a transaction-fee basis, executed through direct B2B relationships with a network of established suppliers and customers across MENA and East Africa; (2) logistics and terminal income captured through wholly owned subsidiaries (D&K Holdings UAE, Independent Petroleum Mozambique) and a portfolio of joint ventures and minority stakes (with stakes ranging from 11.11% in Vopak Horizon Fujairah Limited to 50% in Uniterminals Lebanon), including affiliated terminals alongside Galp, Vopak, ENOC, PSO, and PETROMOC; and (3) shipping income from time charter and spot market activity on top of internal fleet utilization. The GTM motion is enterprise field sales, relationship-driven, with headquarters in Kuwait City and regional offices across ten additional jurisdictions. Pricing is not publicly disclosed and is negotiated per contract based on prevailing market conditions.

IPG serves 300+ wholesale petroleum buyers across its geographic footprint with a reported 100% client satisfaction metric. For FY2025, the Group reported net profit of 10.171 million KD (~$33M USD), a 12.85% increase over FY2024, with sales growth of 14.36%. The Group carries 51-100 employees, a market value of approximately KD 127.46 million (~$394M USD), and a 6.38% dividend yield. Recent corporate actions include a 3% increase in its HSTPL shareholding in January 2026, a KD 58.6 million credit facility renewal, and engagement with the Kuwait Capital Markets Authority on both disciplinary and share-trading matters.

Name

INDEPENDENT PETROLEUM GROUP KSCP

Legal name

Independent Petroleum Group KSCP

Website

https://ipg.com.kw

Company type

Public

Founded year

1976

Operating status

Operating

Headcount range

51–100 employees

Short description

Independent Petroleum Group KSCP is a Kuwait-based public petroleum trader and logistics investor operating across MENA, East Africa, and Asia. It trades crude oil and petroleum products, holds stakes in 12 storage terminals totaling 5.3 million cubic meters of capacity, and operates three petroleum tankers.

Ownership category

akta.pro rank

Product category

Petroleum Trading and Logistics

NAICS

Petroleum and Petroleum Products Merchant Wholesalers (4247), Petroleum Bulk Stations and Terminals (424710), Pipeline Transportation of Refined Petroleum Products (486910)

SIC

Wholesale-Petroleum & Petroleum Products (No Bulk Stations) (5172), Wholesale-Petroleum Bulk Stations & Terminals (5171), Pipe Lines (No Natural Gas) (4610)

akta.pro primary industry

Crude Oil & Refined Products Trading & Marketing (EUAGAAAD)

akta.pro secondary industries

Crude Oil Tank Farms & Terminals (TLAGAKAA), Liquid Bulk Storage & Tank Farm Operators (Independent Storage) (TLAHABAM), Crude Oil & Petroleum Products Tanker Transport (TLADALAA)

Keywords

• Crude oil trading
• Petroleum products marketing
• Oil storage terminals
• Petroleum logistics services
• Petroleum shipping services

Headquarters

HQ city

Safat

HQ country

Kuwait

HQ region

Middle East

Offices10 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Supply Chain, Infrastructure, Personnel, Marketing or Sales, Others

Revenue model

1. Crude Oil and Petroleum Products Trading: IPG engages in trading crude oil and petroleum products in MENA and East African markets. This is the core revenue stream.
2. Logistics and Terminal Operations: Investments in storage terminals and shipping operations provide income diversification through joint ventures and associates across Middle East, Africa, Mediterranean and Asia.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

Independent Petroleum Group KSCP trades crude oil and petroleum products in MENA and East African markets, invests in and operates petroleum storage terminals and an 82-km pipeline across the Middle East, Africa, the Mediterranean and Asia, and owns a fleet of three petroleum product tankers used for internal trading and external charter business. The Group also operates LPG bottling and distribution through its Mozambique subsidiary and generates equity income from twelve logistics joint ventures.

Product overview

Independent Petroleum Group KSCP is a Kuwait Public Shareholding Company engaged in petroleum trading and logistics. The company operates three core business segments: (1) Petroleum Trading - active in MENA and East African markets as a niche player with long-standing supplier and customer relationships; (2) Investments in Logistics - approximately US$ 150 million invested in storage terminals with total capacity of 5.3 million cubic meters across the Middle East, Africa, Mediterranean, and Asia, plus an 82-km pipeline in Asia; (3) Shipping Operations - owning and operating 3 petroleum product tankers (M/t D&K Yusuf Al Ghanim, M/t Abdul Razzak, M/t Al-Betroleya) used for internal trading activities and charter market. The company holds various ownership stakes in storage terminals through subsidiaries (100% in D&K Holdings and IPM Mozambique) and joint ventures (ranging from 11.11% in VHFL UAE to 50% in Uniterminals Lebanon).

Differentiator

Problem solved

Functional benefit

Products and services

• Petroleum Trading Crude oil and petroleum products trading in MENA and East African markets, building a network of suppliers and customers and providing flexible, efficient trading services that honor contractual commitments.
• Investments in Logistics Approximately US$ 150 million invested as IPG's share of investment in a total storage capacity of 5.3 million cubic meters of storage terminals operating in the Middle East, Africa, the Mediterranean and Asia, including shareholding in an 82-kilometer petroleum pipeline in Asia.
• Shipping Operations Ownership and operation of three petroleum product tankers used for the Group's own trading activities as well as for spot and time charter business in the open shipping market.
• D&K Holdings L.L.C. Shipping Services (UAE) Wholly owned UAE-based shipping arm of IPG (100% share) that owns and operates three petroleum product vessels which are fully utilized by IPG.
• Independent Petroleum Mozambique (IPM) LPG Bottling and Distribution Wholly owned (100%) LPG cylinder bottling and distribution facility in Mozambique with a bottling capacity of 5,000 cylinders per day and captive storage of 400 m3 for bulk LPG.
• Arabtank Terminals Ltd (ATT) Storage Services Storage facility of 288,300 cubic meters in Yanbu, Saudi Arabia, connected by pipeline to Samref Refinery and Farabi Petrochemical Company. IPG share: 36.5%.
• Horizon Tangiers Terminals SA (HTTSA) Storage and Bunkering Storage and bunkering terminal of 533,000 cubic meters for clean and black petroleum products at Port Tangiers, Morocco under a 25-year concession agreement. IPG share: 32.5%.
• Vopak Horizon Fujairah Limited (VHFL) Storage Terminal Storage terminal in Fujairah, UAE with storage capacity of 2.6 million cubic meters. IPG share: 11.11%.
• Horizon Singapore Terminals Pty. Ltd. (HSTPL) Storage Terminal Terminal with storage capacity of 1.2 million cubic meters and four jetties. IPG share: 15%.
• Horizon Djibouti Holdings Limited (HDHL) Storage Terminal HDHL owns 90% of Horizon Djibouti Terminals Limited (HDTL) (with 10% owned by the Government of Djibouti); the terminal has storage capacity of 371,000 cubic meters. IPG share: 22.22%.
• Uniterminals Lebanon Petroleum Storage and Marketing Markets petroleum products in Lebanon and owns and operates a petroleum product storage terminal with capacity of 74,000 cubic meters. IPG share: 50%.
• IPG-Galp Beira Terminal Limitada (IGBTL) Hydrocarbon Storage Hydrocarbon storage facility in Port Beira, Mozambique with capacity of 65,000 cbm along with other logistical facilities. IPG share: 45%.
• Galp-IPG Matola Terminal Limitada (GIMTL) Hydrocarbon Storage Hydrocarbon storage facility (Liquid and LPG) in Port Matola, Mozambique with capacity of 66,000 cbm. IPG share: 45%.
• Inpetro SARL Petroleum Storage Petroleum products storage terminal in Port Beira, Mozambique with storage capacity of 95,000 cubic meters. IPG share: 40%.
• Asia Petroleum Limited (APL) Pipeline Transport Owns and operates an 82-kilometer petroleum products pipeline in Pakistan running from Zulfiqarabad terminal at Pipri, Karachi to Baluchistan to transport Fuel Oil for HUBCO Power Plant. IPG share: 12.5%.

Quantifiable outcome

• 12.85% increase in net profit in 2025 over 2024
• +2 more outcomes

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Twelve partnerships are on record, tiered core and minor.

• D&K Holdings LLCcoreOthersWholly owned subsidiary of IPG (100%). Acts as the shipping arm of IPG, owning and operating 3 petroleum product vessels fully utilized by IPG.
• Independent Petroleum Mozambique (IPM)coreOthersWholly owned subsidiary of IPG (100%). A bottling and distribution facility for LPG cylinders with bottling capacity of 5,000 cylinders per day and captive storage of 400 m3 for bulk LPG.
• Uniterminals LebanonminorStrategic or Co-development PartnerIPG share 50%. Markets petroleum products in Lebanon, owns and operates a petroleum product storage terminal with capacity of 74,000 cubic meters.
• IPG-Galp Beira Terminal Limitada (IGBTL)minorStrategic or Co-development PartnerIPG share 45%. Owns and operates hydrocarbon storage facility in Port Beira Mozambique with capacity of 65,000 cbm. Other shareholders: Petrogal Mozambique Lda (part of Galp Energia), SPI.
• Galp-IPG Matola Terminal Limitada (GIMTL)minorStrategic or Co-development PartnerIPG share 45%. Owns and operates hydrocarbon storage facility (Liquid & LPG) in Port Matola Mozambique with capacity of 66,000 cbm. Other shareholders: Petrogal Mozambique Lda, SPI.
• Inpetro SARLminorStrategic or Co-development PartnerIPG share 40%. Owns and operates petroleum products storage terminal in Port Beira, Mozambique with storage capacity of 95,000 cubic meters. Other shareholders: PETROMOC, NOIC.
• Arabtank Terminals Ltd (ATT)minorStrategic or Co-development PartnerIPG share 36.5%. Owns and operates storage facility of 288,300 cubic meters in Yanbu, Saudi Arabia. Connected to Samref Refinery and Farabi Petrochemical Company. Other shareholders: ENOC, SARCO.
• Horizon Tangiers Terminals SA (HTTSA)minorStrategic or Co-development PartnerIPG share 32.5%. Owns and operates storage and bunkering terminal of 533,000 cubic meters at Port Tangiers, Morocco under 25-year concession with TMPA. Other shareholders: HTL (subsidiary of ENOC), Afriquia SMDC.
• Horizon Djibouti Holdings Limited (HDHL)minorStrategic or Co-development PartnerIPG share 22.22%. Owns 90% of HDTL with 10% owned by Government of Djibouti. Terminal has storage capacity of 371,000 cubic meters. Other shareholders: HTL, NSHL, EML.
• Horizon Singapore Terminals Pty. Ltd. (HSTPL)minorStrategic or Co-development PartnerIPG share 15%. Owns and operates terminal with storage capacity of 1.2 million cubic meters and four jetties. Other shareholders: Boreh International Limited, South Korea Energy Asia, Martank BV.
• Asia Petroleum Limited (APL)minorStrategic or Co-development PartnerIPG share 12.5%. Owns and operates 82-kilometer petroleum products pipeline from Zulfiqarabad terminal at Pipri, Karachi to Baluchistan for Fuel Oil transport for HUBCO Power Plant. Other shareholders: PSO, Asia Infrastructure Ltd of Singapore, VECO International of USA.
• Vopak Horizon Fujairah Limited (VHFL)minorStrategic or Co-development PartnerIPG share 11.11%. Owns and operates storage terminal in Fujairah, UAE with storage capacity of 2.6 million cubic meters. Other shareholders: VOPAK Oil Logistics Europe & Middle East, HTL, Government of Fujairah.

Scale indicators17 records

Recent moves8 records

Expansion highlights5 records

Others

• Vopak: World's largest independent tank storage operator and JV partner with IPG in Horizon Singapore and Vopak Horizon Fujairah. Adjacent rather than directly competing — IPG is a minority co-investor in Vopak-led terminals.
• Galp Energia: Portuguese integrated energy major and IPG's JV partner in the Beira and Matola terminals in Mozambique. Adjacent relationship through shared storage investments rather than direct product competition.

Direct peers

• Mercuria Energy Trading: Independent energy and commodities trader with significant midstream and logistics investments, including tank storage. Highly comparable to IPG's niche trader-with-storage model and similar focus on emerging-market flows.
• Vitol: World's largest independent energy trader with a petroleum and products trading franchise and significant midstream investments. Directly comparable to IPG's trading-plus-logistics model, though operating at materially greater scale and global breadth.
• Trafigura: Major independent commodity trader with substantial crude and refined products flows and integrated storage and shipping assets. Closely comparable to IPG in business model, with broader geographic reach and larger trading book.
• Gunvor Group: Independent trader of crude oil, refined products, and natural gas with logistics infrastructure including terminals. Directly comparable business mix to IPG, with somewhat larger scale and similar MENA exposure.

Broad incumbents

• Glencore: Diversified mining and commodity trading major with a substantial oil trading desk. Overlaps with IPG in petroleum trading but operates at far larger scale across many commodities.
• Kuwait Petroleum Corporation (KPC): Kuwait's state-owned national oil company operating upstream, refining, and international marketing. Provides the domestic competitive backdrop for IPG and a key counterparty for Kuwaiti-origin crude and products.
• Emirates National Oil Company (ENOC): UAE-based integrated state oil company with trading, refining, and storage operations. ENOC entities are direct JV partners with IPG (e.g., Horizon Tangiers, Arabtank Yanbu), making it both a competitor and a co-investor.

Emerging players

• BB Energy: Smaller independent oil trader with active presence in MENA and Africa. Comparable product offering to IPG, though with more limited midstream investments and a narrower geographic footprint.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/independent-petroleum-group-of-kuwait-limited

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries13 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about INDEPENDENT PETROLEUM GROUP KSCP