Revenues of KNPC''s Clean Fuel Project to Hit 11.5 pctSource: KUNA 10/12/2013, Location: Middle East
An eco-frienldy mega project assumed by Kuwait National Petroleum Company is expected to achieve 11.5 percent in investment revenues, according to a KNPC official. In statements to KPC World Magazine, Clean Fuel Project Manager Abdallah Al-Ajmi said that the expected revenues could increase if the project bidders offered prices lower than those estimated.
He noted that the project comes in implementation of the Kuwait Petroleum Corporation's ambitious strategy of developing the oil refining industry in Kuwait to meet international environmental standards. The project also would create new job opportunities for nationals and would have a great impact on the environment in Kuwait and will help cut oil industry gas emissions, Al-Ajmi underlined.
KNPC has invited international engineering, procurement and construction (EPC) companies to bid for the tender for its multi-billion dollar clean fuel project at both the Mina Al-Ahmadi and Mina Abdullah refineries. KNPC's Clean Fuels Project is a major upgrade and expansion of Mina Al-Ahmadi and Mina Abdullah refineries to increase their combined output by 264,000 barrels per stream day to 800,000 barrels per stream day.
The objective is to increase conversion of fuel oil to higher value products in order to meet expected market demand and tighter specifications (one percent) for the sulfur content of transportation fuels.
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