On 01/04/1957, KOTC was established by a group of Kuwaiti pioneer investors; Abdulaziz Hamad Al Saqer, Humoud Alzaid Alkhaled, Yousef Abdulaziz Al Fullaij, Abdulaziz Mohammed AlShayee , Khaled Abdulatif Al Hamad, Yousef Ahmed AlGhanim, Nisf AlYousef AlNisf, MOHAMMED ABDULMOHSEN ALKHARAFI, BADER ALSALEM ALABDALWAHHAB, KHALIFA ALKHALID ALGHUNAIM, ABDULRAZZAQ KHALED ALZAID AND EZZAT MOHAMMED JAAFAR.

In 1959, KOTC received the first crude oil tanker "Kazmah" with a capacity of 49,000 metric ton. It was the first very large crude carrier VLCC tanker that carried the Kuwaiti flag at the time.

In 1959, the Marine Agency Branch (MAB) of KOTC was established, so that the company, represented in MAB, became an agent for oil tankers that dock in Kuwaiti oil ports to provide all the services they need, and from that date it became the exclusive Agent for oil tankers with an exceptional privilege, as it started it work in this field.

In 1960, the company obtained the license to exploit the Liquified petroleum gas for distribution to Kuwait citizens for domestic use.

In 1961, ABDULAZIZ HAMAD ALSAGER was appointed as the first CEO of KOTC.

In 1962, the Liquefied Petroleum Gas filling plant was built in Shuwaikh Industrial Area.

In 1967, KOTC established a subsidiary company in London, then shortly another company was established to achieve the most essential objectives of the company, which is to reach the stage of self-management of the tanker fleet after acquiring the necessary and sufficient experience.

In January of 1980, the two companies located in London were liquidated after the KOTC became possessed a group of highly experienced national cadres and the full management of KOTC became from inside Kuwait only.

In 1979, Kuwait government decided to nationalize KOTC, under the decree to nationalize all oil companies, so that all Oil Companies will become the property of the government only.

In 1985, Shuaiba liquefied Petroleum gas filling Plant was inaugurated.

In 2015, the liquefied Petroleum gas filling plant was inaugurated in Umm Al-Aish area.

In 2016, the company was awarded the international Maritime Training Award by Lloyd's List for the Middle East and the Indian Subcontinent.

In 2019, the company commenced to renew and expand its fleet with eight tankers for crude oil and its products. This upgrading was completed in early 2021. And this project was part of KPC projects and was included in the Tanker Fleet Upgrading Plan.

During the years 2015, 2016, 2017, 2018, 2019 and 2020, the company won the award for the best operator of oil tankers in the Middle East and the Indian subcontinent by the International Maritime Organization.

In 2022, the company was awarded the (Maritime Education and Training Award) in the maritime industry for the Middle East and the Indian subcontinent granted by the International Maritime Organization.