CFP Crucial for Refining Industry in KuwaitSource: KUNA 12/7/2014, Location: Middle East
The Clean Fuels Project is existential for the oil-refining industry in Kuwait as it will provide environment-friendly products on high demand worldwide, a senior official at the Kuwait National Petroleum Company (KNPC) has said.
The KFP is likely to make of Kuwait a rival of the world's leading companies in the field as well as effectively contributing to developing the national economy and providing new jobs for the youth, KNPC Deputy CEO for Support Services Khaled Al-Asousi told KUNA.
Kuwait is facing challenges trying to market oil products with their current specifications, he added. The KFP is a strategic KNPC project aiming at upgrading and expanding the company's existing two refineries at Mina Abdulla and Mina Al-Ahmadi, transforming them into an integrated merchant refining complex that meets the diversified requirements of the world oil market. Total refining capacity of the complex after the CFP is completed is expected to hit 800,000 barrels a day.
Referring to reports on potential risks of the KFP, Al-Asousi said they are inaccurate, noting that the study by the risk management and quantitative analysis advisor as a comprehensive one for all the existing and future projects, tackling all possible scenarios.
The study aims at identifying potential risks of the KFP, so as to guarantee safety of the staff and the people in the surrounding area when the project is carried out, which is a KNPC top priority, Al-Asousi said.
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