Kuwait petroleum CEO plans to boost crude capacity

Dubai: Kuwait Petroleum Corporation (KPC) is in talks to boost its crude processing capacity with heavy grades of oil at its three refineries.

The refineries are currently operating at 1.4 million barrels daily, with a target of raising that to 1.6 million barrels.

Deputy chairman and CEO of KPC, Nawaf Al Sabah, spoke at CERAWeek by S&P Global in Houston highlighting KPC’s targets to increase crude capacity at its Al Zour refinery complex in the south of Kuwait.

“Al Zour is running as much heavy oil as possible. What we are trying to do is maximise as much heavy oil into that refinery as possible since they get a lower netback in the market,” Al Sabah said at the conference.

He spoke about KPC’s plans to further increase its production capacity to 4 million barrels per day by 2035 as demand is increasing during this energy transition phase.