Latest News
- Kuwait-Jordan Durra Field Joint Statement Rejected By Iran
- GTD Cracks Down On Vehicle Noise Pollution In Sulaibiya
- Mystery Of Dead Fish At Shuwaikh Beach Sparks Urgent Action
- MEW To Complete Links With The Interior And Justice Ministries B...
- 8 Expats Jailed For Bribing An Officer To Obtain Driver's Licens...
- Weekend Weather Is Expected To Be Hot
- From Tomorrow, Traffic Diversion On Third Ring Road
- Ministry Of Health Refute Rumors On Non-availability Of Antibiot...
- Amir Of Kuwait And Jordan King Renew Commitment To Regional Secu...
- 37 Arrested With Narcotics And Firearms
- Outrage Over Candidate's Arrest
- Six Stores Shut Down In Jahra For Selling Fake Goods
Knpc Signs 13bn Contract For New Refinery
The Kuwait National Petroleum Company (KNPC) Tuesday signed contracts worth $13.2 billion (11.6 billion euros) with international firms to build a refinery said to be the Gulf state’s largest development project.
The deal comes as Kuwait, a key Oil producer, moves to modernise its energy facilities and boost its refining capabilities. The Al-Zour refinery near the border with Saudi Arabia is slated to produce 615,000 barrels per day and come onstream in November 2019, KNPC CEO Mohammad Al-Mutairi told reporters.
The 10 foreign companies involved include Spain’s Tecnicas Reunidas, China’s Sinopec, South Korea’s Hyundai, SK, Daewoo and Hanwha, Britain-based Fluor, Italy’s Saipem and India’s Essar. The new refinery will eventually be part of a complex to include a huge petrochemicals venture and a Liquefied Natural Gas (LNG) import facility, both under study, Mutairi said. Last year, the KNPC signed contracts for a $12 billion project to upgrade two of its three existing refineries. Kuwait sits on 101.5 billion barrels of crude reserves — equivalent to 6.8 percent of the world’s proven reserves according to the latest OPEC figures. It pumps 2.8 million bpd.
Â
SOURCE : ARABTIMES
Trending News
-
Kuwait Implements Home Biometrics Services Ahead O...
14 April 2024
-
Kuwait Airways Provides Update On Flight Schedule...
14 April 2024
-
Kuwait Airways Introduces Convenient Home Luggage...
15 April 2024
-
Expat Residency Law Amended By Kuwait Ministerial...
20 April 2024
-
Two Expats Are Arrested For Stealing From Salmiya...
17 April 2024
-
An Egyptian Expat Dies At Kuwait's Airport
11 April 2024
-
Kuwait Airways Resumes Flights To Beirut And Oman...
15 April 2024
-
Bay Zero Water Park Kuwait: Summer Season Opens Ei...
11 April 2024
-
Temperature Increases Cause Electricity Load Index...
21 April 2024
-
Thief Returns Stolen Money With An Apology Letter...
15 April 2024
Comments Post Comment