KNPC Seeks Ideas, Finance For Refinery Projects

Kuwait is eying funding for ambitious refinery expansion plans. But the key 615,000 b/d Al Zour plant has been hit by Neutral Zone dispute.

Kuwaiti state refiner KNPC is seeking fresh ideas on how to fund two megaprojects: a $15bn clean fuels project (CFP) at its existing Mina ‘Abd Allah and Mina al-Ahmadi refineries; and a $16bn new 615,000 b/d plant at al-Zour. For the CFP it is picking the brains of bankers, while for al-Zour it is considering asking the government for more funding after bids came in over the company’s budget.

KNPC last year awarded three engineering, procurement and construction (EPC) contracts worth a combined $12bn for projects to upgrade the existing 270,000 b/d Mina ‘Abd Allah and 466,000 b/d Mina al-Ahmadi refineries, while expanding the former and reducing the latter to give a combined crude distillation capacity of 800,000 b/d (MEES, 14 February 2014).


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