4/7/2017 YourPetrochemicalNews|KuwaitclosesShuaibaRefinery,plansdealwithOmansDuqm

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KuwaitclosesShuaibaRefinery,plansdealwithOmansDuqm
Thursday,Apr06,2017
Stateowned Kuwait National Petroleum Co. (KNPC) has closed the ageing 200,000 bpd Shuaiba refinery
becauseofdecliningprocessingrunsandtheplantsinabilitytoproducehigherstandardproducts.

The Shuaiba plant was opened in 1968 and its closure was planned as part of Kuwaits Clean Fuels Project,
whosecompletionistargetedfor2020.

Kuwaits two other refineries, the 466,000 bpd Mina Abdullah and 270,000 bpd Mina alAhmadi plants, are
undergoingrefurbishmentandexpansionthatisduetobefinishedbytheendof2018.

Anew615,000bpdrefineryandpetrochemicalcomplexisunderconstructionatAlZourandwhencomplete,
probablyby2020,thecountrysrefinerycapacitywillriseto1.42millionbpd.

Inthemeantime,Kuwaitwillneedtoimportfueloilforatleastayeartosupplyitspowergenerationfacilities.
ItwillalsoneedtoimportgasolineuntiltheAlZourfacilitycomesintooperation.

KNPCisnowlookingtoconverttheShuaibafacilityintoastorageterminal.Thereare72storagetankswitha
capacitytohold11.8millionbarrelsofcrudeoilandproductsatthesite,whichincludesathreeberthpier.

Other Gulf producers Saudi Arabia, the UAE and Iran have built new refineries and are involved with
upgradingtheirexistingplantsinordertoaddressrisingfuelstandardsinforeignmarkets.

Kuwaits US$12 billion Clean Fuels Project has been subject to political differences within the countrys
parliamentandhascauseddelaysinthepast,mostlydisputesovercontracts.

Kuwaitiproductexportsduring2016averaged757,000bpdandconsistedofLPG,diesel,naphtha,jetfueland
gasoline.

Meanwhile,stateownedKuwaitPetroleumisscheduledinApriltosignapartnershipagreementwiththeOman
OilCo.(OOC)regardingthedevelopmentofOmansDuqmRefineryandPetrochemicalIndustries,locatedon
thesultanatesIndianOceancoast.

TheprojectwasmeanttobeapartnershipbetweenOOCandAbuDhabisInternationalPetroleumInvestment
Co.(IPIC),butIPICpulledoutoftheprojectlastyear.

The Duqm project will include a 230,000 bpd refinery that will be a 50:50 joint venture. The partners will
financetheprojectwith60%sharedequityand40%throughprojectfinancefrominternationalbanksandexport
creditagencies.

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