KPC looks at fierce competition from int’l companies to obtain Kuwait oil contracts
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Duqm Refinery 97% complete
KUWAIT CITY, March 2: The Kuwait Petroleum Corporation is at the center of fierce competition from international companies which are competing to obtain oil agreements to ensure access to oil derivatives from the Al-Zour refinery, which is expected to enter service in its three phases by May or June of this year, reports Al-Rai daily.
High-level oil sources told the daily that Kuwait is on the road to restoring its natural position in the global markets in a greater way and with a strategic weight, as part of the tremendous efforts undertaken by the global marketing sector, the KPC, pointing out that KPC revealed during the annual reception of its customers in a “IE WEEK” in the British capital, London, during which it announced its preparation to distribute the output shares of Al-Zour refinery, amounting to 615 thousand barrels of oil per day, other than intermediate products, after completing the internal needs. The sources pointed out that the global market is interested in the products of Al-Zour Refinery, especially as it conforms to European and international standards, noting that Kuwait will always remain a safe supplier to global energy markets. The Director of the KPC European Regional Office in London, Nagham Al-Omar, had made all arrangements for delegations and a reception for Kuwait’s international customers during the annual meeting.
Joint venture
In a new development, the completion rate of the Duqm Refinery project in the Sultanate of Oman, which is a joint venture between Kuwait Petroleum International, owned by KPC and Oman’s OQ, reached about 97 percent until the end of last January.
The sources stated that this achievement comes after all the support units were put into operation and the first shipment of Kuwaiti crude oil with a load of 2 million barrels was received in the oil tanks in the Ras Markaz area, in preparation for the start of the trial operation of the crude oil distillation unit in March, and reaching the operational readiness of all the main units.
The sources added that the most prominent challenges of the current period is the safe operation of all project units until reaching maximum capacity and commercial operation expected to take place at the end of this year. The sources stated that the refining capacity of the refinery amounts to 230,000 barrels per day, as its design depends on the hydrogen cracking unit and the petroleum coke unit, and it is capable of refining Kuwaiti crude oil by 100 percent.
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