Kuwait National Petroleum Co (KNPC) announced it will shut down its Shuaiba refinery permanently by April 2017. The 200,000 bbl/d refinery has been closed mostly because of economic reasons and it will be converted into an oil storage facility.
The company announced its refining capacity would be 746,000 bbl/d after the closure.
In the meanwhile, KNPC plans to invest US$40bn to extend and modernise the refining capacities, so as to increase the total refining capacity to 1.4 mb/d in 2022; this includes the construction of the new Al-Zour refinery and the implementation of the Clean Fuels Project.
Around US$16bn are expected to be spent on the Al-Zour New Refinery Project (NRP) (capacity of 165,000 bbl/d), that will supply both the domestic and international demand for ultra-low-sulphur petroleum products. The refinery is expected to be commissioned in 2019.
KNPC's Clean Fuels Project aims to upgrade and expand the Mina Abdulla and Mina Al-Ahmadi refineries to raise their capacity by 64 000 bbl/d to 801,000 bbl/d by mid-2018.
Interested in Global Energy Research?
Enerdata's premium online information service provides up-to-date market reports on 110+ countries. The reports include valuable market data and analysis as well as a daily newsfeed, curated by our energy analysts, on the oil, gas, coal and power markets.
This user-friendly tool gives you the essentials about the domestic markets of your concern, including market structure, organisation, actors, projects and business perspectives.