Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

KNPC to invest $35 bln in strategic projects in 5 yrs  Join our daily free Newsletter

MENAFN - Arab Times - 16/04/2014
No. of Ratings : 0
Add to Mixx!

(MENAFN - Arab Times) Wait city april 15 (kuna): kuwait national petroleum company (knpc) will invest us 35 billion in expanding and development projects in the coming five years said the company's chief executive officer mohammad ghazi al-mutairi. 'at the forefront of these projects came the multi-billion dollar clean fuel project the new al-zour refinery the fifth natural gas plant and the construction of new liquefied natural gas import facilities' al-mutairi said tuesday in his speech at the second day of the third kuwait oil and gas summit and exhibition. al-mutairi underlined that the strategic projects would have great impacts on kuwait's oil products competitiveness on the global market.

'these projects would help kuwaiti products enter new international markets thanks to its high quality and competitiveness and give a push to national economy and development in the country' he said. the knpc signed this week the contracts of the us 12 billion-worth clean fuel project with three international consortia. the project aims at upgrading and expanding the existing knpc two refineries at mina abdulla and mina al-ahmadi. the project will transform the refineries into an integrated merchant refining complex that meets the requirements of the world oil market. it will also increase the refining capacity to 800000 barrels a day.

the new multi-billion dollar al-zour refinery will be one of the largest oil refining plant worldwide. it will help supply low sulfur fuel (less than 1 percent) to the local power plants. al-mutairi said the best mean to ensure the success of any project is the existence of executive programs that includes deadline and separate evaluation for each stage of the project. he added that the knpc hires highly-qualified international experts to apply and the transfer to the company the latest project management approaches. al-mutairi expected that the world's oil refining map would be changed within the coming years as north america continent have turned from importer to exporter of oil products. he added that the global refining output will increase in the next five years to the equivalent of 9.5 million barrels a day

al-mutairi shed lights on a number of the main challenges facing the company and the whole oil sector in kuwait and the proposed means to address them.


kuwait city: kuwait petrochemical industries company (pic) ceo asaad ahmad al-saad said here on tuesday petrochemical industry will be an influential source of the country's national non-oil income expecting it to exceed 50 percent of non-oil earnings

speaking at the 3rd kuwait oil & gas summit & exhibition which kicked off here on monday al-saad said his company is seeking to boost petrochemical earnings to make up over 50 percent of kuwait's non-oil income

the pic's petrochemical development strategy is based on the expansion of aromatics and olefins iii projects and invasion of specialized petrochemical industry he elaborated

on his part kuwait petroleum international (q8) ceo bakhit al-rashidi said his company had concluded an engineering supply and construction contract with japan's idemitsu kosan co and mitsui chemicals inc. and petrovietnam for the vietnam oil refinery expecting it to start operating by 2017 with a refining capacity of 200000 barrels per day

he said his company gives a priority to reducing risks and invading new high-growth areas in the near future.

kuwait petroleum international (q8) is the international marketing arm of kuwait petroleum corporation the state-owned entity responsible for kuwait's hydrocarbon interests throughout the world. the 3rd kuwait oil & gas summit & exhibition officially hosted by the kuwait petroleum corporation (kpc) is the strategic meeting place for the kuwait oil and gas industry. the summit has a reputation for delivering quality and excellence whilst playing a critical role in helping to set the agenda for sustainable growth.  the program for 2014 will include forward-thinking debate on capacity building efficiency and cooperation with a focus on the policies investment and skills needed to realize kuwait's strategic oil and gas objectives.



Arab Times

  MENA News Headlines
 Oct 6 2015 - Abu Dhabi s NBAD is 1 for GCC bonds DealogicEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) ABU DHABI 6th October 2015 (WAM) --- National Bank of Abu Dhabi (NBAD) the Safest Bank in Emerging Markets and the Middle East by Global Finance magazine is ...

 Oct 6 2015 - ADEC offers public school students an After School Support ProgrammeEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) ABU DHABI 6th October 2015 (WAM) -- The Abu Dhabi Education Council ADEC has organised an "After School Support Programme" for students for the 2015/2016 ...

 Oct 6 2015 - Four UAE soldiers martyred in AdenEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) ABU DHABI 6th October 2015 (WAM) -- The General Command of the UAE Armed Forces has announced the death of four of its brave soldiers in Aden during their ...

 Oct 6 2015 - UAE- Ajman Ruler congratulates Egyptian PresidentEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) AJMAN 6th October 2015 (WAM) -- H.H. Sheikh Humaid bin Rashid Al Nuaimi Supreme Council Member and Ruler of Ajman has sent a cable of congratulations to the ...

 Oct 6 2015 - UAE Ambassador to Bahrain attends mass weddingEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) MANAMA 6th October 2015 (WAM) --- Ambassador of the United Arab Emirates to Bahrain Abdul Redha Khouri recently attended a mass wedding for 202 couples with ...

 Oct 6 2015 - Dubai repays US500 million bonds certificatesEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) DUBAI 6th October 2015 (WAM) -- The Government of Dubai acting through the Department of Finance has announced that the US$ 500 million Fixed Rate Note ...

 Oct 6 2015 - UAE- Emirates Airline offers special A380 fares to a host of destinationsEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) DUBAI 6th October 2016 (WAM) --- Travellers in the UAE gearing up for year-end trips can now enjoy special fares to a host of destinations served by the ...

 Oct 6 2015 - UAE-MENA healthcare providers to spend US2.73bn on IT products services in 2015Emirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) Dubai 6th October 2015 (WAM) - Healthcare providers in the Middle East and North Africa will spend US$2.73 billion on IT products and services in 2015 ...

 Oct 6 2015 - Dhahi Khalfan opens 2015 edition of Critical Communications Middle East in DubaiEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) Dubai 6th October 2015 (WAM) - Lieutenant General Dhahi Khalfan Tamim Deputy Chairman of Dubai Police and General Security led the opening ceremony of the ...

 Oct 6 2015 - Emirates Transport to purchase 722 new buses worth AED 180mn to meet growing demand for school transport servicesEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) DUBAI 6th October 2015 (WAM)Hussain bin Ibrahim Al Hammadi Minister of Education and Chairman of Emirates Transport has approved the purchase of 722 new ...




Click to Apply


Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  

Middle East North Africa - Financial Network

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices


Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks

Saudi Arabia 

Economic Calendar
Financial Glossary

Financial Calculators

RSS Feeds [XML]

Corporate Monitor


Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters

© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help