Kuwait’s National Petroleum Company (KNPC) is to sign contracts regarding the build of the largest oil refinery in the Middle East, the Al-Zour refinery. Al-Zour is to have the capability to process 615 000 bpd, and as such is anticipated to boost the country’s economy.
The commissioning of the refinery is expected to begin in November 2019, and costs are anticipated to amount to US$15.9 billion. April 2018 will see the start if commissioning for Kuwait’s Clean Fuel Project, which will upgrade two of the country’s largest refineries.
“This is an important milestone,” KNPC CEO, Mohammed Al-Mutairi, told Reuters. Al-Mutairi continued and said the company would look to finance 70% of the project externally and the other 30% would be funded internally through the Kuwait Petroleum Corporation.
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