Tuesday, 29 August , 2017     |     2181      |      +      |     

Kuwait’s KNPC to spend $11.6 bln over five years

Kuwait’s KNPC to spend $11.6 bln over five years :

State-refiner Kuwait National Petroleum Corp (KNPC) plans to spend around $11.6 billion (3.5 billion dinars) from 2018-2023, Kuwaiti newspaper Al Rai quoted the company’s chief executive as saying on Sunday.

Mohammad Ghazi al-Mutairi was cited as saying the plan involved completing projects and starting new ones.


KNPC is developing the Clean Fuels Project that will upgrade and expand two of its largest refineries to make higher-value products such as diesel and kerosene for export.

Mutairi said the first installment of a $6.25 billion loan from international lenders was expected to be received by the end of September.

KNPC will close the ageing 200,000 barrels per day (bpd) refinery in Shuaiba. Mutairi said work on assessing units for sale at the refinery had been completed.

http://english.alarabiya.net/

Kuwait Today Business Subscription

Keywords:
Category: #Business | 2017/08/29 latest update at 8:00 AM
Source : | Photocredit :
2182
Comments Add comment

Latest Comments


  
  LinkedIn Gulf Media

Sponsored Publications


Related Articles

The editorial staff of Kuwait Media would like to give all of its readers from Gulf and Kuwait and the whole world the opportunity to participate actively in the development of the website! If you have something interesting, fun, scandalous - just something worth to be seen from more people. Capture it and share it in the Kuwait Today with a short text.

Do you have information you want to reach our readers?

Send article/s

You can subscribe to our Facebook, Twitter and Google pages or use our RSS feed channel to always read the most important news about Kuwait, the Gulf and the world.


Latest searches in Kuwait Today