Walid Al-Hashash: Biography
Waleed Al Hashash is chairman of the board of Kuwait’s AREF Energy Holding Company. Born in Kuwait, he received his undergraduate education at Farleigh Dickenson University, New Jersey, USA, graduating in 1985 with a bachelor of science in industrial engineering. From 1985 to 1990, he served as an electrical engineer designing electrical and telecommunications work for projects owned by Kuwait Municipality, while also pursuing graduate studies. In 1990, he received a masters of science in industrial engineering from the University of Miami in Florida.
From 1990 to 2007, Hashash worked at Kuwait Petroleum Corporation (KPC) in the commercial oil trade, most recently as deputy managing director of marketing. In that role Hashash was responsible for crude oil sales, managing regional offices in the US and Japan, and holding a portfolio of approximjately US $2.7 billion. Hashash was also in charge of jet fuel, bunker and diesel sales, and IT services, with three regional offices in Singapore, India, and Pakistan, and a portfolio of US $12 billion per year.
Established in 2007 as a subsidiary of AREF Investment Group, the AREF Group is a stable, long-term investor and one of the leading investment institutions in the region with a vision to become a conglomerate managing financially integrated companies. AREF Energy Holding Company was spun off as a subsidiary in 2007 to become the leading investment holding company specifically in the field of energy.
AREF Energy has been described as local, boutique, Shariah-compliant, energy investment house that has consolidated itself as an ideal local partner for foreign oil and gas services companies wishing to enter Kuwait and the Gulf region. AREF Energy seeks to develop strong partnerships with international mid-sized operational companies interested in joint ventures with an accountable Kuwaiti partner.
According to AREF Energy’s CEO, Waleed Al Hashash, “We are trying to represent Kuwait in seeking good opportunities, aligning ourselves with trustworthy partners and keeping our conduct of business ethical.”
Presently, AREF Energy is increasing its shares in energy services companies servicing both the upstream and downstream of energy extraction industries, including oil and gas and electricity as well as environmental sectors. AREF Energy is also expanding its holdings throughout the entire MENA region, as well as India and the U.S. According to Al Hashash, the company went from zero contracts in 2007 to USD $35 million in early 2011, and to more than USD $60 million by the beginning of 2012, spread across nine major investments.
AREF Energy’s investment policy is founded on a strong commitment to stimulate the transfer of technologies and knowledge into the region. “If we invest outside of the region our aim is to bring the transfer of technologies and knowledge to the area,” says Al-Hashash.
Al Hashash is also vice chairman and CEO of Rubban Logistics Holding Company of Kuwait, which is also a subsidiary of AREF Investments Group. He also serves as a member of the boards of MEGlobal, the Nile River Transport Company and Higleig Contracting, both of Sudan; and is chairman of Gulf Africa Holding (GAH) in Kuwait.