The Kuwaiti government has approved the merger of KPC’s two state-owned refining firms Kipic and KNPC, consolidating its 1.45mn b/d refining sector under a single corporate structure. The decision made by the Supreme Petroleum Council in April and published in the government gazette on 31 May would see KNPC taking over Kipic’s 615,000 b/d Al Zour refinery and the nearby 22mn t/y LNG import terminal.
The merger has long been planned and forms part of a broader corporate restructuring of KPC’s subsidiaries (MEES, 12 April 2024). (CONTINUED - 796 WORDS)
