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Kuwait Will Refine 1.2 mln bpd

Kuwait Petroleum Corporation's Chairman of the Board of Directors, Sami Fahd Al-Rashid, predicted the country's capacity...

Kuwait Will Refine 1.2 mln bpd

Kuwait Petroleum Corporation?s Chairman of the Board of Directors, Sami Fahd Al-Rashid, predicted the country's oil refining capacity will be 1.2 million barrels per day by 2010, the Kuwait News Agency reported Saturday.

He said that this capacity requires new installations worth $8.5 billion, including the construction of a fourth new refinery and the development of two existing ones in Al-Ahmadi and the Abdullah Port.

The new refinery's architectural plans would be ready by next year and "by 2010, the new refinery would be finished," Al-Rashid said.

At a cost of up to 5 billion dollars, the new refinery will havea capacity of production between 450,000 to 600,000 bpd. The total oil production of the Kuwaiti oil refineries is up to 930,000 bpd at present

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