Two additional oil refineries to be built in coming years

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Two additional oil refineries to be built in coming years

Posted on : Thursday 19th of April 2018

KUWAIT CITY (KUNA): Two 300,000-bpd refineries will be added in the coming years in order to meet the 2-million-bpd refining capacity target set for 2035, CEO of Kuwait National Petroleum Company (KNPC) Mohammad Ghazi Al-Mutairi said. The remarks were made during a meeting by the Oil and Gas Year (TOGY) Kuwait team this week with Al-Mutairi and Deputy Chief Executive Office for Projects of KNPC Abdullah Fahad Al-Ajmi.

Clean Fuel Project was 94 percent complete in the country, Al-Mutairi said in a press release issued by TOGY. TOGY team also met this week with Kuwait Petroleum International (KPI) CEO Nabil M. Bourisli, and Kuwait Gulf Oil Company (KGOC) CEO Abdulnaser Y. Al Fulaij. During the meeting Al-Mutairi and Al-Ajmi shared that the Clean Fuel Project was 94 percent complete and highlighted the innovative technologies and methods were used. Kuwait Petroleum International (KPI) is a subsidiary of Kuwait Petroleum Corporation (KPC).

KPI’s Bourisli was pleased to announce also a number of upcoming company milestones, notably the opening ceremony in Vietnam for the Nghi Son Refinery in May and the groundbreaking ceremony in Oman for the Duqm refinery and petrochemicals project later this month. He also offered insights into KPI’s European and Asian strategies. Dr. Bourisli indicated that the company intends to buy a stake in an Indian refinery and petrochemicals project in the coming weeks.

Al-Fulaij said that despite the lull in activities in the Partitioned Neutral Zone, KGOC has been active in environmental and training activities as well as sharing know-how with its sister companies, which will be particularly useful as Kuwait expands its focus to the offshore.

These and upcoming meetings with Kuwaiti oil executives are held in the context of TOGY’s successful partnership with KPC, a key outcome of which will be the TOGY Kuwait 2018 edition detailing the Kuwaiti hydrocarbons industry’s drive towards expansion and modernization.

The Oil & Gas Year provides business intelligence, strategic communication and networking to the global energy industry.

The company produces country specific investment guides on 35 oil and gas markets worldwide and distributes to key energy and finance executives in 101 countries. Since the past 10 years of its inception, TOGY became keen on producing industry-defining books and maps on the world’s emerging and established oil and gas markets.

Meanwhile, the Public Authority for Housing is working hard to ensure that 15 percent of Kuwait’s local power demand is met through renewable energy sources by 2030, a senior official said on Wednesday.

The plans, which have been set in motion since 2017, are part of the New Vision 2035, a set of goals proposed by His Highness the Amir aimed at sustainability and diversification away from oil dependence, State Minister for Housing and Services Jenan Boushehri said.

The state body responsible for providing subsidized housing to nationals is overseeing the construction of its first “smart home” at the newly-developed Jaber Al-Ahmad Residential City — a project that is being undertaken by several local firms. If found to be successful, the structure, currently in its experimentation and research phase, will be applied to others commissioned by the state body, she told a local forum on sustainable development.

The eventual housing units will limit electricity consumption and save public funds through a shift to wind and solar-powered generators, said the minister. The structure’s trial and error period will continue until the authority reaches an “ideal result,” she explained.

Courtesy : Arab Times

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