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Tuesday , September 29 2020

Closing down Shuaiba Refinery to cost KD 80m in revenue generated

Move will minimize refinery capacity of Kuwait by 50 pc

KUWAIT CITY, April 4: Recent report alleging Shuaiba Refinery will be sold as scrap has come as a surprise since many refineries around the world have been operating for 100 years and still functioning, says Al-Shahed daily.

The daily quoting sources added Shuaiba Refinery had gone through maintenance for roughly 44 working days in 2010 at a cost of KD 6 million, besides the restoration of some units and its closure will force Kuwait to export high quantity of oil reaching 4.5 million barrels per month and expose the country to dispute with OPEC. They noted the closure of Shuaiba Refinery will minimize the refinery capacity of Kuwait by 50 percent in the short term and cause shortage of petroleum products in the market, which will lead to import of large quantities of different types of oil products from foreign countries.

They noted production at Abdullah and Ahmadi Refineries can not compensate for shortage in oil production even if they operate with utmost capacity. They lamented a decision has been made to close down Shuaiba Refinery despite the plant generates KD 80 million in revenue.

Meanwhile, sources disclosed that Kuwait Petroleum Corporation (KPC) recently participated in two international tenders to import two shipments of 25,000 tons of Premium fuel (95 octane) and Super fuel (91 octane). They said Kuwait will receive the first shipment of Super fuel on April 15 and the second shipment of Premium fuel on April 21 this year

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