FINANCIAL NEWS

KNPC Kuwait to spend USD11.6bn amid 5 years

28 Aug 2017

(MENAFN) Kuwait National Petroleum Corp (KNPC) aims to spend almost USD11.6bn from 2018-2023, as exposed Kuwaiti newspaper.

Meanwhile, KNPC is boosting the Clean Fuels Project that will upgrade and increase two of its largest refineries in order to make higher-value products like diesel and kerosene for export.

Accordingly, the first installment of an USD6.25bn loan from global lenders was projected to be delivered by the end of Sep.

The firm will close the ageing 200.000 barrels per day refinery in Shaiba, while work on assessing units for sale at the refinery had been finished.

MENAFN2808201700450000ID1095780106

MENAFN2808201700450000ID1095780106

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