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Wednesday , November 21 2018

Kuwait’s ‘strategic reserve’ of liquefied gas enough for 2 weeks

KUWAIT CITY, Jan 29: The country’s strategic reserve of liquefied gas is enough for two weeks as per the capacity of eight reservoirs in Al-Zour and the liquefied petroleum gas process continues as planned, reports Al-Rai daily quoting sources.

Sources revealed the lowest return based on the projects of Kuwait Petroleum Corporation (KPC) and its subsidiaries range from nine to 10 percent in each sector. Sources said the lowest return based on petrochemical projects is 10 percent in addition to the percentage of risks in each country where it has investments.

Sources went on to say the lowest return based on refinery projects is nine percent; while certain health, environmental, water and infrastructure works are needed for oil projects but their returns have not been estimated.

They also stressed the importance of continuing the expansion projects to ensure diversification of income sources and to achieve more returns. They went on to say the number of refinery projects has doubled over the last five years with an estimated total production of two million barrels per day.

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