Kuwait expands refining capacity, invests in sustainable fuels
Date
5/30/2024 8:15:02 AM
(MENAFN) Kuwait's Oil Minister, Imad Al-Ateeqi, announced on Wednesday that the country's total refining capacity has reached 1.83 million barrels per day, inclusive of both domestic and external facilities. Al-Ateeqi clarified that Kuwait's internal refineries, including Al-Ahmadi, Mina Abdullah, and Al-Zour, contribute 1.415 million barrels per day to this capacity, with the remainder allocated to Kuwait's shares in external refineries.
The internal refineries play a critical role in Kuwait's energy infrastructure, while the external refineries, namely Duqm in Oman, Nghe Son in Vietnam, and Milazzo in Italy, provide additional capacity and diversification to Kuwait's refining capabilities. This strategic distribution of refining assets ensures operational efficiency and resilience in Kuwait's oil sector.
In alignment with global trends towards sustainability and carbon reduction, Kuwait has also embarked on initiatives to invest in eco-friendly fuels. Last March, Kuwait Petroleum International Company, Italy branch, announced the acquisition of a 50 percent stake in Ecofox, an Italian company specializing in the production of organic fuels. This partnership aims to advance Kuwait's efforts in reducing carbon emissions from fossil fuels, particularly in the transportation sector.
Commenting on the agreement, the Kuwaiti Ministry of Oil emphasized its significance as a pioneering step towards developing, producing, and distributing sustainable organic fuels. The deal underscores Kuwait's commitment to aligning with international goals for reducing carbon emissions and promoting environmentally friendly energy solutions.
While the exact size of the agreement was not disclosed, the move reflects Kuwait's proactive approach to addressing environmental challenges and embracing innovation in the energy sector. By expanding its refining capacity and investing in sustainable fuels, Kuwait seeks to enhance its position as a responsible global energy player while contributing to the transition towards a greener and more sustainable future.
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