New refinery & biofuel achieve quantum leap for oil

Source: KUNA 6/29/2011, Location: Middle East

Fahad Al-Ajmi, new board chairman and managing director of Kuwait National Petroleum Company (KNPC), asserted here Wednesday importance the two new projects of the new refinery and biofuel, noting that, "they will achieve a quantum leap to the Kuwaiti oil sector.

Al-Ajmi told KUNA, in his first statement to the press following taking up his post, that these two projects, "will achieve the targeted increase of the refining capacity according to the strategy set by the Kuwait Petroleum Corporation (KPC), and will improve products in line with the local needs of energy, and in tandem with KPC export policy." Further, Al-Ajmi made clear that KNPC, which is a subsidiary of KPC, is ready and well-placed to carry out the fourth oil refinery, and the biofuel projects, "when there are instructions regarding them," noting that the biofuel project will make the Kuwaiti refineries able to manufacture the oil products in accordance with the world standards, while the refinery itself will produce low-sulphur fuel oil.

He also said that these projects will further improve the conservation of the Kuwaiti environment, improve the derivatives in quantity and quality, bring material and environmental returns, and achieve an added value to KNPC along with maximizing profits, noting that one of the most important goals of the two projects combined, namely oil refinery and biofuel, is to achieve the KPC strategy aiming at increasing the refining capacity up to 1.4 million barrel per day.

On his future plans in KPC in the coming period, Al-Ajmi made clear that his top priority is how to pay further attention to the human resources, noting that encouraging Kuwaiti youth to work in the oil sector is his primary concern in order to help them take part in the development of their own community through motivating the youth to join training courses, and specialized professional programs.


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