Global Teledermatology Market Gears Up for a Bright Future: ~15% Growth Expected by 2027

The emergence of hybrid teledermatology, the rise in skin diseases like psoriasis, eczema, and skin cancer, the lack of dermatologists and other qualified healthcare professionals who can provide specialized dermatological care, and technological developments in teledermatology products and the introduction of new dermatology services are the main factors propelling the market
Teledermatology is a new and emerging type of care delivery in which telecommunication technologies are utilized to transmit dermatology-related medical information over a long distance via voice, video, and data transmission.
Asynchronous (store-and-forward) segment dominates the teledermatology market, with hybrid teledermatology expected to gain traction in the coming years
Store-and-forward (SAF) teledermatology permits photos and other health-related information to be transmitted from a patient to a provider/clinician or from one provider/clinician to another using telehealth software for evaluation. Some of the primary elements driving its demand include reduced consultation wait times, expedited treatment of urgent patients, efficient management of a higher volume of patient cases, and improved patient satisfaction. However, a crucial problem that is predicted to hinder its adoption is the absence of real-time input on patient queries/concerns.
In the future years, hybrid teledermatology is projected to gain traction. It combines real-time and store-and-forward teledermatology components. Patients may receive insights from real-time talks and benefit from the completeness of asynchronous data sharing by using the hybrid method, which allows them to choose the mode of consultation that best suits them. The method shortens wait times, improves access to care, and increases patient satisfaction.
Technological advancements and the launch of new Teledermatology services drive the Teledermatology Market
Over the years, the Teledermatology industry has seen a lot of technical breakthroughs and the introduction of new services. These advancements are anticipated to fuel the teledermatology industry in the future years.

For instance:
In May 2023, the Black Country Provider Collaborative launched new teledermatology services in the UK that aim to triage patients within a 24-hour period, reduce unnecessary appointments, and streamline access to diagnostics and treatments
In Septemeber 2022, Oro Health in partnership with MCI Onehealth launched a new Teledermatology platform In Ontario for private and public patients. The new MCI platform, MCI Dermatology Connect, is powered by Oro Health Technology and provides a highly secured and reliable medical process. By using the platform, patients from the comfort of their homes will be able to receive personalized consultation, diagnosis, and prescription for minor dermatology pathologies within few days
Competitive Landscape Analysis of the Teledermatology Market
Some of the key players operating in the market include MedX Health, Digital Diagnostic/3Derm Systems, MetaOptima, Miiskin, Hims & Hers, Mandel Dermatology, MDLIVE, Medweb, First Derm, Dermicus, Eagle Telemedicine, Advanced Telemed Services, SkyMD, Integrated Dermatology, Curology, among others.
Organic and Inorganic Growth Strategies Adopted by Players to Establish Their Foothold in the Teledermatology Market
Players operating in this market are adopting organic and inorganic growth strategies such as launching new products, launching pilot programs, acquiring related firms, and entering into collaborations to garner higher market share. For instance,
In April 2023, MedX Health, a global leader in teledermatology entered into an agreement with PharmaChoice Canada to launch MedX teledermatology screening platform across canada. PharmaChoice Canada is one of Canada’s fastest-growing pharmacy groups, with more than 1000 independent pharmacy owners and operators
In July 2021, Hims & Hers Health, acquired teledermatology specialist, Apostrophe. The acquisition expands the firm’s ability to provide consumers with some of the most advanced and personalized dermatology treatments, faster and at scale
The potential for integrating artificial intelligence (AI) into teledermatology to improve diagnosis accuracy, streamline workflows, and optimize patient care, the rising popularity of telehealth among patients and providers, and the aggressive organic and inorganic growth strategies employed by the players are all expected to contribute to the teledermatology market’s anticipated future growth.

RacquetX Announces Miami Open Experience as Excitement Builds for Landmark 2024 Event

RacquetX, the world’s first all-racquet sport conference and experience, is proud to announce a joint ticket experience with Miami Open presented by Itaú, a leading ATP Masters 1000 and WTA 1000 tennis tournament that takes place from March 17 – 31, 2024.

RacquetX and Miami Open attendees will have the opportunity to enjoy ‘RacquetX Night at the Miami Open’ taking place at the Hard Rock Stadium on Monday, March 25th, as well as access to the three-day, one-of-a-kind experience at RacquetX.

RacquetX, which takes place across March 24-26 2024 at the Miami Beach Convention Center, represents a hugely exciting milestone for the racquet sport industry as the first event dedicated to all racquet sports, giving businesses, professionals, fans and enthusiasts alike the chance to be inspired, exchange ideas, make connections and play on one of the 9 multi-sport courts.
RacquetX Co-Founder Robyn Duda said: “We’re delighted to announce this celebration with the iconic Miami Open that will allow tournament-goers and RacquetX participants to enjoy the benefits of each event, which take place at the same time in Miami this March. This is a huge vindication of everything we’re trying to achieve at RacquetX by working with the best in the industry.”

The brainchild of events guru Duda and entrepreneur Marco Giberti, RacquetX is the exciting culmination of huge growth across the sector. The conference’s three headline sports – tennis, pickleball and padel – have all experienced surges in participation since the pandemic and are riding the crest of a wave as people turn to racquet sports in numbers never seen before. Tennis has experienced a 33% boom in participation since 2020, pickleball is taking North America by storm with the number of people playing growing by 59% over three years, reaching a total of 8.9 million in 2022; while padel is widely accepted as the world’s fastest-growing sport with over 25 million players.

As well as those three headline sports, RacquetX is welcoming professionals and enthusiasts of all racquet sports – from squash to badminton and table tennis, and also welcoming cult sports such as Platform tennis, which is popular in the U.S. Northeast. Until now, there was no place for industry professionals across all these sports to exchange ideas and try new products and technologies.

Trailblazing Jamaica’s Bauxite Industry

Since its establishment over six decades ago, this joint venture between the Jamaican government and Alcoa has been instrumental in driving economic growth while demonstrating a steadfast commitment to sustainability and community development.

Forging a Rich History and Empowering Jamaicans
In the late 1950s, Jamaica’s abundant bauxite reserves caught the attention of visionaries who recognized the potential for economic prosperity. This led to the birth of Jamalco, an enterprise that has consistently fueled the country’s economic engine and provided employment opportunities for thousands of Jamaicans. Today, its legacy shines brightly as a beacon of hope and progress.
Jamalco understands the critical importance of sustainable mining practices, realizing that responsible environmental stewardship is the bedrock of long-term success. With a relentless commitment to minimizing its ecological footprint, the company has implemented stringent environmental management systems. By rehabilitating mined areas and restoring them to their original state, Jamalco ensures the preservation of Jamaica’s natural resources for future generations. Such dedication sets a benchmark for the entire industry.
Beyond its mining operations, Jamalco has earned recognition as an active corporate citizen through its unwavering dedication to community development. The company’s social programs, meticulously designed to address the specific needs of local residents, have made a significant impact in areas such as education, healthcare, and infrastructure. By providing scholarships, supporting schools, and funding healthcare facilities, Jamalco actively contributes to the social fabric of Jamaica, empowering individuals and nurturing sustainable community growth.
Jamalco’s impact goes beyond mere statistics. As one of the largest employers in the region, the company plays a pivotal role in job creation and economic development. Through direct employment opportunities and the ripple effect of its robust supply chain, Jamalco stimulates economic growth, fosters entrepreneurship, and empowers local businesses. The revenue generated from its bauxite mining and alumina production activities amplifies the positive effects, contributing to government revenue and bolstering public welfare programs.
At Jamalco, innovation and progress go hand in hand. By embracing cutting-edge technologies, the company continuously enhances operational efficiency while championing environmental conservation. Investing heavily in research and development, Jamalco optimizes its processes to reduce energy consumption, minimize waste, and increase overall productivity. This dedication to leveraging innovative technologies ensures the company’s global competitiveness, solidifying its position as a reliable supplier of high-quality alumina.
Collaboration lies at the heart of Jamalco’s approach to sustainable development. The company recognizes that true progress can only be achieved through robust partnerships with key stakeholders, including local communities, government entities, and non-governmental organizations. By fostering open dialogue and creating shared value, Jamalco ensures its operations align with national development goals and community aspirations, promoting long-term harmony and mutual benefits.
Jamalco’s commitment to environmental stewardship remains unwavering. Through rigorous measures, the company minimizes the impact of its operations on the environment. By employing advanced technologies and adhering to stringent regulations, Jamalco reduces water usage, controls air emissions, and responsibly manages waste disposal. Constant monitoring and assessment ensure compliance with international standards, preserving Jamaica’s ecosystems and safeguarding its natural heritage for generations to come.
Innovation lies at the core of Jamalco’s success. The company understands that progress requires continuous improvement and exploration of new frontiers. By investing significantly in research and development, Jamalco collaborates with academic institutions and industry experts to push the boundaries of what is possible. This commitment not only benefits the company but also contributes to the advancement of the broader mining sector, as knowledge and expertise are shared for the benefit of all.
Jamalco places paramount importance on the safety and well-being of its employees. By implementing comprehensive health and safety protocols, offering extensive training programs, and conducting regular safety assessments, the company fosters a culture of safety awareness. Furthermore, Jamalco actively promotes employee well-being through healthcare benefits, wellness programs, and a supportive work environment. By valuing its workforce, Jamalco cultivates a motivated and engaged team, driving productivity and success.

Establishing a Global Presence
While deeply rooted in Jamaica, Jamalco has successfully expanded its reach beyond national borders. Through strategic partnerships and collaborations with global stakeholders, the company has established an international presence in the aluminum industry. This not only strengthens its market position but also contributes to the recognition and growth of Jamaica’s mining sector on a global scale.
Jamalco’s remarkable journey in Jamaica’s bauxite industry epitomizes the harmonious coexistence of economic progress and environmental responsibility. With its steadfast commitment to sustainable practices, community engagement, technological advancements, and employee well-being, Jamalco stands as a paragon of responsible resource extraction. As the company continues to shape the mining sector’s future, it leaves an indelible positive impact on local communities, the environment, and the broader global mining community.

The happy world of Haribo

From its humble beginnings in Germany to its status as a global phenomenon, Haribo has created a candy empire that stands the test of time. In this article, we will delve into the rich history, iconic products, and lasting legacy of Haribo.
The Sweet Origins: Haribo traces its roots back to 1920s Germany when a visionary confectioner named Hans Riegel Sr. founded the company in Bonn. The name Haribo is an acronym derived from Hans Riegel Bonn. The initial offerings included hard candies and licorice, but it was the introduction of the iconic Goldbären (Gold-Bears) in 1922 that set Haribo on its path to stardom. These bear-shaped gummies, with their fruity flavors and chewy texture, quickly became a sensation and laid the foundation for Haribo’s future success.
Innovation and Expansion: Driven by a commitment to innovation, Haribo continued to create new products and expand its range. In the 1960s, the company introduced Tangfastics, a sour variation of its popular gummy candies. This bold move demonstrated Haribo’s ability to adapt to changing consumer preferences and solidified its reputation as a market leader.As Haribo’s popularity grew, so did its global presence. The company established production facilities in various countries, including France, Spain, and the United States, enabling it to cater to a worldwide audience. In 1982, Haribo opened its first manufacturing plant outside of Europe in Baltimore, Maryland, marking a significant milestone in its international expansion.
Iconic Product Lineup: Haribo’s success can be attributed not only to its brand recognition but also to its diverse and appealing product lineup. While Goldbären remains a top seller, the company offers a wide range of candies to suit different tastes and preferences.

From the tangy Cola Bottles to the soft and chewy Happy Cherries, Haribo consistently introduces new flavors and shapes to captivate candy enthusiasts. Some notable favorites include Starmix, which combines various shapes and flavors, and Maoam, the fruity chew bars that offer a burst of long-lasting taste. With vegetarian and vegan options also available, Haribo strives to cater to a diverse consumer base.
The Haribo Experience: Beyond its candies, Haribo has successfully crafted an immersive experience that appeals to both children and adults. The Haribo stores and factory tours allow visitors to witness the candy-making process firsthand, from mixing the ingredients to molding and packaging the gummies. These interactive experiences create a deeper connection with the brand and offer a glimpse into the world of Haribo.
A Lasting Legacy: Haribo’s enduring success can be attributed to its commitment to quality, innovation, and customer satisfaction. The brand’s ability to adapt to changing consumer preferences while staying true to its roots has allowed it to remain relevant in an ever-evolving market. Today, Haribo continues to bring joy to millions of people worldwide, spreading sweetness and delight with every chew.

Haribo has undoubtedly established itself as a global candy icon, enchanting generations with its delicious and imaginative treats. From its humble beginnings in Germany to its worldwide presence, Haribo has built a legacy based on innovation, quality, and a commitment to creating moments of happiness. As we savor the iconic Goldbären and explore the vast array of Haribo we are reminded of the brand’s ability to bring people together, evoke nostalgia, and create lasting memories.
Looking ahead, Haribo shows no signs of slowing down. With a dedicated team of confectionery experts and a finger on the pulse of consumer trends, the company continues to introduce new flavors, shapes, and experiences that keep candy lovers coming back for more. Whether it’s experimenting with unique combinations, exploring healthier options, or embracing technological advancements, Haribo remains committed to pushing the boundaries of confectionery innovation.
Furthermore, Haribo understands the importance of social responsibility. The company has implemented sustainability initiatives, such as responsible sourcing of ingredients, reducing packaging waste, and supporting local communities. By taking these steps, Haribo demonstrates its commitment to not only delighting consumers but also being a responsible corporate citizen.

Haribo’s impact goes far beyond the candy aisle. The brand has become a cultural phenomenon, with its iconic Goldbären being referenced in movies, television shows, and even inspiring fan art and merchandise. The familiar yellow packaging and the cheerful gummy bears have become symbols of joy and happiness.
One of the key factors contributing to Haribo’s success is its iconic branding. The cheerful yellow packaging adorned with the smiling Goldbären has become instantly recognizable worldwide. This visual identity, combined with the brand’s commitment to consistent quality and taste, has earned Haribo a loyal following.
Haribo’s popularity extends beyond its core markets. The brand has successfully entered new territories and embraced cultural diversity. For example, Haribo has introduced region-specific flavors and variations to cater to the preferences of consumers in different countries. This adaptability and understanding of local tastes have allowed Haribo to establish itself as a global leader in the confectionery industry.

In recent years, Haribo has also embraced digital marketing and social media to engage with its audience. The brand actively interacts with consumers through various platforms, sharing fun and creative content, running contests, and even launching limited-edition products in collaboration with popular influencers. This online presence has helped Haribo maintain relevance in an increasingly digital world and connect with a younger demographic.
Haribo’s commitment to innovation extends beyond its product lineup. The company has made significant investments in research and development, constantly exploring new manufacturing techniques, flavor combinations, and even healthier options. By staying at the forefront of confectionery innovation, Haribo ensures that it remains a frontrunner in an industry that is constantly evolving to meet changing consumer demands.
Moreover, Haribo has not limited its success to the realm of traditional gummy candies. The brand has expanded into other confectionery categories, such as licorice, marshmallows, and jellies, offering a diverse range of treats to cater to different preferences. This diversification has allowed Haribo to capture a broader market share and maintain its position as a dominant force in the confectionery industry.

Lastly, it is worth mentioning that Haribo’s impact goes beyond its commercial success. The brand has a long history of philanthropy and community involvement. Haribo actively supports various charitable initiatives, both globally and locally, focusing on areas such as education, children’s welfare, and environmental sustainability. Through these efforts, Haribo showcases its commitment to making a positive difference in the world.

In conclusion, Haribo’s journey from a small candy manufacturer in Germany to a global confectionery giant is a testament to its enduring appeal, commitment to innovation, and ability to adapt to changing consumer preferences. With its iconic branding, diverse product lineup, digital engagement strategies, and philanthropic endeavors, Haribo continues to captivate candy enthusiasts of all ages and delight taste buds around the world.

Service King Donates $45,000 to Cornerstone Ranch Through Golf Tournament Donations

On Oct. 12, Service King held its 26th annual Charity Golf Tournament at the Cowboys Golf Club, where 144 golfers came together at the Dallas course to raise funds for local nonprofits. This year, as part of Service King’s 45th anniversary and vision of “building for tomorrow,” the collision repair operator presented a $45,000 check to Cornerstone Ranch – a residential community created for adults with special needs to live an abundant life – following the tournament.

“For 45 years, Service King has had a steadfast passion to help others,” said Service King President Jeff McFadden. “Cornerstone Ranch is a local McKinney nonprofit organization that we’re proud to partner with and join their efforts in enriching the lives of people with special needs in our community. We’re also extremely grateful for our loyal business partners and golfers that came out to show their support at this year’s tournament. We look forward to continuing to live out our mission of ‘building for tomorrow’ by continuing to donate to organizations that empower the communities we serve.”

For the past 26 years, Service King’s annual Charity Golf Tournament has benefitted a variety of local nonprofit organizations. To learn more about Service King, visit serviceking.com.

About Service King Collision®
Service King Collision®, which is now celebrating 45 years of experience in the automotive repair industry, is a leading national operator of comprehensive, high-quality auto body collision repair facilities. The organization is consistently recognized for its commitment to customer satisfaction, quality workmanship and giving back to the industry through innovative training and recruiting initiatives. Service King traces its roots back to Dallas, Texas and founder Eddie Lennox who opened the very first Service King in 1976. Today, Service King operates locations in 24 states and the District of Columbia across the U.S.

UAE regulators and exchanges issue High-Level Statement on Sustainable Finance to advance national net-zero goal

The UAE Sustainable Finance Working Group, comprised of numerous federal and local UAE regulators and exchanges chaired by Abu Dhabi Global Market (ADGM),  has issued a High-Level Statement on Sustainable Finance detailing their commitment to achieving the UAE’s sustainability objectives and the recently announced Net-Zero 2050 ambition as the first country in the MENA region. The Statement was also issued on the side-lines of the 26th United Nations Climate Change Conference (COP26), under the presidency of the United Kingdom and in partnership with Italy, wherein the UAE is a committed partner striving to safeguard the environment, drive down emissions and create lasting economic opportunity.

The Statement follows on from the UAE Core Regulators’ Group which began its work in 2019. It builds upon the commitments set out in the UAE Guiding Principles on Sustainable Finance, published in 2020, which serve to guide the implementation and integration of consistent sustainable practices among the UAE’s financial entities, contributing to the health and resilience of the nation’s economy.

The UAE Sustainable Finance Working Group issuing the Statement, now operates in an expanded forum to scale up the development of sustainable finance policies in the UAE. It includes the UAE Ministry of Economy, the UAE Ministry of Finance, the Office of the UAE’s Special Envoy for Climate Change, the UAE Ministry of Climate Change and Environment, the Central Bank of the UAE, the Securities and Commodities Authority, ADGM, the Dubai Financial Services Authority, the Abu Dhabi Securities Exchange, Dubai Financial Market, and Nasdaq Dubai.

The Statement sets a clear and much needed roadmap for the participating authorities to contribute to the UAE’s sustainable and climate change objectives, outlined in global frameworks, such as the Paris Agreement, the United Nations Sustainable Development Goals, which the UAE is fully supporting, and the nation’s own UAE Net Zero by 2050 strategic initiative.

Outlined in the Statement are three key deliverables the UAE authorities will strive to achieve to give a concrete expression to these international commitments. The deliverables include: a targeted study aimed at encouraging consistent Environmental Social and Governance corporate disclosure standards across the UAE, examining how to strengthen good corporate governance by UAE companies to contribute to driving the sustainability agenda, and, crucially, develop a UAE taxonomy of sustainable activities, which constitutes a major milestone defining the path for economic transition to sustainable development.

The implementation of the deliverables will be achieved through both legislative and non-legislative means and in coordination with the authorities on the monitoring and technical support required to incorporate sustainability into regulatory frameworks.

The directives set out in the Statement follow the establishment of the UAE Sustainable Finance Working Group in 2019, now comprising a range of regulatory authorities, exchanges, governmental bodies, and ministries in the UAE in charge of developing environmentally sustainable finance policies. The Statement is also an advancement in the authorities’ development of the UAE Guiding Principles on Sustainable Finance, which serve to guide the implementation and integration of consistent sustainable practices among the UAE’s financial entities, contributing to the health and tenacity of the nation’s economy.

Agriculture & Energy Carriers: Smooth sailing

If it needs to be carried across water, Agriculture & Energy Carriers (AEC) can probably offer a suitable transportation solution and without having to compromise on quality of logistical support. Having remained focussed on the drybulk sector, AEC has sought to use invaluable investor cash injections to expand and specialise, resulting in the procurement of an incredible fleet of carriers, 

 

“All types of commodities and products are carried in our modern bulk carriers, mainly in Handysizes, Handymaxes and Supramaxes. The AEC fleet consist of modern Eco Bulk Carriers, mainly Japanese built. The standard is always kept high with a constant focus on reliable, first class, efficient, modern shipping services. Integrity is the keyword in AEC’s vision.” 

 

Backed by the best 

 

AEC’s success is not reliant on the significant financial backing that it has been fortunate enough to secure, but it would be churlish to suggest that it hasn’t allowed the company to operate on a higher level than some competitors. Without cash flow concerns, expansion has been a fluid endeavour, with new fleet vessels being purchased as and when necessary, as apposed to only when the coffers would allow and this has lead to excellent profitability and returns on investments. It has also allowed for client relations to take a turn on the spotlight, 

 

“Backed by prominent financial and industry investors, AEC provides advanced shipping solutions with special focus on reliable and efficient customer service, quality performance, professional voyage execution and competitive cost optimisation – all closely linked to our strong close commercial and operational relationships.” 

 

NPG Energy Capital Management is the investment franchise responsible for the fiscal support that AEC has enjoyed and it actually owns the entire AEC group, meaning that it is deeply connected to the results and successes being achieved. Far from simply chasing a profitable bottom line, there is a sense of NPG encouraging increasingly more personal client relationships and, above all else, consistency. Having managed in the region of $13billion of capital since its inception in 1988, NPG was no stranger to commercial success and understanding exactly how it could and should be attained. 

 

An enviable fleet 

 

Naturally, to be able to offer a range of different clients access to the very best drybulk transportation services, a suitably diverse and sizeable fleet is a must. AEC has in no way skimped on this element of operations, having purchased around 25 separate vessels, all built in Japan to exacting global standards, 

 

“AEC owned vessels are all double-hull vessels and are what is called ‘open hatch’ types with box-shaped holds. The double-hull does not only provide increased safety but the designs also allow the interior of the holds to be box-shaped. Box-shaped holds are considerably better for cargoes like steel products, unitised and general cargo. Some cargoes, like wood pulp, paper in reels and aluminium ingots are normally only loaded in box-shaped vessels. Having box-holds and open hatches greatly facilitates the loading and the stowage of such cargoes.” 

 

This assessment of vessel capabilities is key to understanding just how AEC has risen to the top of its industry, as lesser operations may have simply sought to invest in the largest boats available, with little or no consideration of exactly what they would be able to carry. AEC has effectively sidestepped the potential landmine of ignorance and instead, invested in those vessels that would allow for optimum cargo variance and, more importantly, safety. When you understand just how unpredictable the loads being carried are, this becomes entirely business-critical. 

 

From buses to Olivine sand and vital energy products, no two loads, or days, are the same for AEC and in a bid to prove that competencies are being maintained, external assessments are welcome. Just last year, AEC allowed itself to be audited in terms of its capability to transport coal and petroleum coke, with a positive appraisal being the inevitable outcome. This shouldn’t come as a shock, given that AEC was named, in part, because of its special interest in supporting the energy sector, but to be willing to prove continued compliance and commitment is a little unusual. 

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The world is not enough 

 

Headquartered in the Bahamas, with a secondary trading arm in Uruguay, AEC is able to operate across the globe, with professional relationships contributing to the ease with which they can do so, 

 

“AEC is a first class performer and has close relationships with a wide range of ship owners worldwide. AEC charters vessels on a repeat basis from well-respected companies such as Pacific Basin, K-line, NYK, NS United, Polsteam Shipping, Precious Shipping, Bunge, Bohandymar (Bocimar), CTM and ADM.” 

 

By seeking to expand its fleet through careful chartering, AEC is able to significantly increase its operational footprint, without racking up excessive operational costs. This savvy approach to fleet management, in turn, contributes to the company’s ability to to pass the savings on to bottom line-conscious clients, helping to maintain a certain level of price competitiveness within an often crowded and highly ambitious industry. Every cargo transportation operation has to seek out niche elements and constructive relationships that will offer an edge and as it moves into the future, AEC has turned to cutting edge technology to make its mark. 

 

The future of the industry, now 

 

“On the 1st of August 2011 AEC partnered with Dataloy Systems for shipping software and hardware services. AEC will have access to Dataloy’s shipping systems through a fully online service with an innovative physical hardware setup which meets all of AEC’s needs. In turn, Dataloy will be utilising AEC’s extensive industry knowledge to further develop and improve their systems.” 

 

A mutually beneficial relationship of this nature could be what makes AEC really pull away from the competition and by sharing information with Dataloy, to improve the software of the future, AEC is magnanimously guaranteeing everybody the opportunity to embrace operational smooth sailing. 

Kuwait Oil Company: Resilient and robust

Founded back in 1934, it’s fair to say that the Kuwait Oil Company (KOC) is an operation with some serious heritage, as well as empirical experience of how the industry as a whole has evolved and changed over time. This in itself could be enough to set KOC apart from its nearest competitors, yet there is much more to that story, as you’ll see.

 

An impressive rise to fame

 

Having discovered commercial quantities of oil in 1938, KOC went on to become a particularly viable entity, with the Kuwait Government taking 100% control in 1975 and finally, bringing all state-owned similar operations under one KOC umbrella, but there was a huge problem on the horizon.

 

1990 saw the Iraqi invasion of Kuwait that left many operations totally devastated, with LOC being one of them. All production and storage facilities were obliterated and while this might have been the time for lesser companies to call it a day, KOC simply saw it as the next challenge. Just months after the liberation of Kuwait in February 1991, full capacity production had resumed and organic growth was even being witnessed as well. With this in mind, it’s little wonder that the company has continued to go from strength to strength, becoming something of an industry giant.

 

The makings of a master

 

To understand exactly what KOC is so special, an overview of the everyday activities is essential. In its own words,

 

“Kuwait Oil Company’s Responsibilities under the KPC’s umbrella involve the exploration, drilling and production of oil and gas within the State of Kuwait. The Company is also involved in the storage of crude oil and delivery to tankers for export.”

 

This might sound like a relatively simple roster of operations, but the oil and gas sector has always been anything but straightforward. It takes courage, resilience and expertise to carve a niche in such a hyper-competitive market and these are qualities that every member of the KOC team has in spades. For this reason, a number of significant discoveries have been made in the history of the company, leading to the enviable market leading position that it currently enjoys, but nothing has come at the detriment of the region.

 

Staying true to stewardship

 

There’s a lot of pressure on the oil and gas industry to look into greener technologies and more sustainable operating methodologies, but KOW doesn’t align with social responsibility out of necessity. Rather, the team is active in looking for better, more progressive and inspirational ways to carry out its business. In order to focus on these endeavours effectively, concern areas have been split into four separate divisions of HSSE (Health, Safety, Security and Environment), social responsibility, oil lakes and soil remediation,

 

“KOC places much emphasis on Corporate Social Responsibility as it constantly seeks to ensure sustainable and balanced development. This is evident in a series of activities that the Company embarks upon to instil the CSR concept as enshrined in the KOC Strategy.”

 

It would be easy to wax lyrical about everything KOC has already done, but shining a light on a select few really highlights the positive impact that is being had. KOC is the first oil company in the world to create a marine colony and has also created nature reserves and oasis’, which takes care of the HSSE element, while countless community programmes, including sports and medical facilities, more than account for social responsibility. The oil lakes issue and soil remediation efforts are intrinsically linked, as both are the result of the 1990 violence, which left oil wells spilling dangerous amounts of liquid all over the landscape. Understanding that the environmental disasters needed to be deal with, KOC took full responsibility and clean up efforts are still on-going.

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Tomorrow’s fuel, planned today

 

With a spectacular reputation already in place and some of the world’s leading experts making up the professional team, KOC is more than ready for whatever the future brings, but by embracing the fact that higher volumes of product will be at the top of the priority list, it is one step ahead of everyone else,

 

“Our main role is to explore, develop and produce hydrocarbons within the State of Kuwait, promote the care and development of our people and deliver on our commitments to our stakeholders in a compliant, profitable, safe and environmentally responsible manner.”

 

The need for evermore exploration sites will never cease, but by making safety a key priority, alongside successful drillings, KOC is ensuring not only the security of its future profits, but more importantly, its staff, who are considered to be exceptionally valuable, especially with the 2030 strategy in place,

 

“KOC has set very challenging and ambitious objectives for its Exploration Group as part of the 2030 strategy. The search for gas and light oil in the Jurassic and Permian plays is taking us into unconventional reservoirs with increased drilling risk through higher temperatures and pressures and the complexities of fractured carbonates. All of these projects will present us with new and complex technical, logistical and management challenges. We believe KOC can achieve extraordinary efficiencies when all disciplines are fully involved and informed throughout the exploration cycle.”

 

Reading between the lines, this means that exploration processes are becoming more intricate, necessitating everyone to pool their skills and expertise together to get the job done in a timely, sustainable and safe fashion,

 

“Various strategies with the objective of causing no harm to employees, contractors, customers, the general public or to the environment are in place. Those strategies are in line with various national and KOC Health, Safety and Environmental standards and include training of the staff, safety audits and rig site visits and emergency exercises with full commitment and awareness of every employee.”

 

KOC is destined to not only reach but also design new heights and standards within the oil and gas industry. Working towards the 2030 strategy will certainly maintain a steely focus and with an exceptional body of staff on-board, there is no doubt that when it comes to industry evolutions, KOC is going to remain both resilient and robust.