KUWAIT city: Kuwait National Petroleum Co (KNPC) plans to spend $40bn in the period to 2022 on projects including a new refinery and a clean fuels project, its chief executive said yesterday.
Mohammed Ghazi Al Mutairi said in a speech at a conference in Kuwait city that the Clean Fuels Project would also include the expansion and modernising of the Mina Al Ahmadi and Mina Abdullah refineries, with a focus on producing high-grade products such as diesel fuel and kerosene for exports. The new refinery, al-Zour, which is due to be completed in 2019, will be the largest in the Middle East with a capacity of 615,000 barrels per day (bpd).
Kuwait currently has three refineries with a combined capacity of 930,000 bpd. The oldest, Shuaiba, with a capacity of 200,000 bpd will be closed after Al Zour goes on stream.
Under the project, the capacity of the Mina al-Ahmadi refinery will drop to 347,000 bpd from 466,000, while Mina Abdullah’s will rise to 454,000 bpd from 270,000.Reuters
