The Kuwait National Petroleum Company began receiving the fruits of the environmental fuel project, which has been working for years and was opened in March 2022
The cost of the project amounted to 15.5 billion dollars, and the National Petroleum Company financed 30% of the cost, while the rest was financed by Kuwaiti and foreign banks.
The CEO of the Kuwait National Petroleum Company (Walid Al-Badr) stated that shipments of petroleum coal and diesel products that conform to international environmental specifications and standards have already begun, and the first shipment of clean car fuel was exported to foreign markets, after the company succeeded in meeting the needs of the local market. This shipment will be followed by more other regular shipments, which will achieve great financial returns for the company that will benefit the Kuwaiti economy.
Al-Badr stressed that the company was able at the end of the first quarter of the current fiscal year to achieve unprecedented profits, due to the great qualitative leap in the company’s business performance.
The Environmental Fuel Project will produce high quality petroleum products that comply with international environmental standards to reduce emissions and pollutants. The project supports Kuwait’s ability to meet national needs and international demand for clean, low-emission fuels that are compatible with global trends to reduce pollutants.
It is worth noting that the Shuaiba refinery was closed in 2017 due to its old age, and according to the environmental fuel project, the KNPC’s Mina Abdullah and Mina Al-Ahmadi refineries were expanded and developed to be an integrated refining complex with a total capacity of 800,000 barrels per day. By adding the Al-Zour refinery that Kuwait is currently building with a capacity of 600,000 barrels per day, the production capacities of the three refineries will reach 1.4 million barrels per day, which is close to the planned capacity of 1.6 million barrels per day by the year 2040.