Kuwait is close to completing the merger of its two state-owned refining companies, Kipic and KNPC, according to a 29 November report by Kuwait’s Arab Times quoting unnamed officials. The two firms are subsidiaries of KPC, which has been working to merge them under the KNPC brand.
KNPC has refining capacity of 800,000 b/d, as well as 3.12bn cfd gas processing capacity, while Kipic operates the 615,000 b/d Al Zour refinery and the neighboring 22mn t/y Al Zour LNG import terminal. Kipic was originally formed out of KNPC in 2016 to oversee the development of the Al Zour projects. The combined entity would have 1.42mn b/d refining capacity. (CONTINUED - 673 WORDS)
