The British Market.

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KPI entered the UK market in October 1986 when it purchased a 10.3% stake in Hays Petroleum Services, giving it control of 821 service stations (although later it reduced its holding to 2.96%). At the same time, KPI took over another retailer Pace Petroleum.

In March 1987 KPI purchased the retail unit of Ultramar for $80m which included Golden Eagle with 465 service stations, as well as a company specialised in the distribution of domestic fuel oil and a unit which supplied diesel to shipping. In May 1987 it purchased the 53 UK stations operated by then Soviet oil trader Nafta, which boosted the total of KPI's retail outlets in the UK to 1,339.

In late 1987, KPI set up Kuwait Petroleum Great Britain (KPGB) to manage its British distribution network. In...

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