• 3 minutes Cyberattack Forces Shutdown Of Largest Gasoline Pipeline In United States - Zero Hedge
  • 6 minutes Renewable Energy Capacity Jumped 45% Worldwide In 2020; IEA Sees 'New Normal'
  • 11 minutes Forecasts for Natural Gas
  • 9 hours U.S. Presidential Elections Status - Electoral Votes
  • 1 hour Electric vehicle market growth is a blessing for some metals — and not a big worry for oil
  • 11 hours Is the Republican Party going to perpetuate lies about the 2020 election and attempt to whitewash what happened on January 6th?
  • 3 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 16 hours CRAPPIFORNIA DOES IT AGAIN! California proposes to steer new homes from gas appliances
  • 2 hours .
  • 1 day Сryptocurrency predictions
  • 1 day 1 in 5 electric vehicle owners in California switched back to gas because charging their cars is a hassle, new research shows
  • 1 day Joe Biden's Presidency
The Mystery Of Dark Energy

The Mystery Of Dark Energy

More than two decades after…

Kuwait National Petroleum Company to Invest $32 Billion by 2019

As part of a huge expansion plan the Kuwait National Petroleum Company (KNPC), the downstream refining division of the Kuwait Petroleum Company (KPC), has announced that it will invest $32 billion in several large projects by 2019.

According to the acting corporate planning manager Khaled al-Khayyat, the projects will include a permanent LNG importing facility, increasing the current import capacity from 500 million standard cubic feet a day (scfd) to 3 billion scfd.

An expansion to their crude oil refining facilities will also increase refining capacity from the current level of 936,000 barrels a day, to 1.4 million barrels a day.

Related Article: Countries Start to Resume Trade with Iran Using Gold to Avoid US Sanctions

Farouk al-Zanki, the CEO of the Kuwait Petroleum Company, also stated that they will invest a total of $100 billion in a few major projects, which include the construction of three world class refineries in the Far East.

The Kuwait Oil Company, the upstream division of the KPC, also plans to invest $40 billion over the next six years, which Mazen Al-Sardi, KOC deputy managing director for Technical Services, says will help achieve the goal of increasing Kuwait’s overall sustainable oil production capacity.

By. Joao Peixe of Oilprice.com



Join the discussion | Back to homepage



Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News