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Article: KPC to offer stake in fourth refinery to IOCs: KNPC outlines plans at MEED conference.(Kuwait Petroleum Corp., Kuwait National Petroleum Company KSC)
- Article from:
- MEED Middle East Economic Digest
- Article date:
- May 20, 2005
CopyrightCOPYRIGHT 2005 MEED Middle East Economic Digest. All Rights Reserved. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Kuwait National Petroleum Company (KNPC), the refining arm of Kuwait Petroleum Corporation (KPC), is in talks with Asian and Western companies about taking a 20 per cent strategic stake in the proposed fourth refinery, KPC deputy chairman and chief executive officer Hani Hussain told the Second MEED Major New Project Opportunities in Kuwait conference on 17 May. In a wide-ranging presentation, Hussain also announced that more than $55,000 million will be spent over the next 15 years in nearly doubling the state's oil production capacity to 4 million barrels a day (b/d), boosting gas supplies and developing its downstream industries.
The decision to bring in a ...