NEWS ARCHIVE

Kuwaiti deals

KUWAIT National Petroleum Corporation has awarded $US12.1 billion ($A12.9 billion) of contracts t...

KNPC deputy director of marketing Jamal Al-Loughani told the Kuwaiti Al-Seyassah newspaper that Shell and BP would supply LNG over the next 5-6 summers, with collective volumes of about 2.5 million tonnes per annum.

While Kuwait is a significant fuel exporter, it began importing LNG in 2009 to cope with the peak summer power demand that accompanied the widespread use of air conditioners.

In other news, KNPC announced it had signed a landmark deal with industry players JGC, Petrofac and Fluor for its CFP, which aims to lift capacity of the Mina Abdulla and Mina Al-Ahmadi refineries to a combined 800,000 barrels a day.

"This is a new breakthrough for Kuwait oil industry," KNPC CEO Mohammad Ghazi Al-Mutairi said in a ceremony on Sunday.

"It represents a qualitative jump in creating work opportunities, protecting the environment, boosting our competency, opening new markets and implementing new technologies."

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