Kuwaiti Oil Barrel Price101.45 Date:08-08-2022

& Events

(KNPC) announces the success of the full operation of the environmental fuel project


The Kuwait National Petroleum Company (KNPC) announced today, Tuesday, the success of the full operation of the environmental fuel project, which is one of the most important and largest development projects in the history of the Kuwaiti oil sector and one of the vital and major development projects at the state level. In a statement to Kuwait News Agency (KUNA), the CEO of the company, Waleed Al-Badr, expressed his happiness with the full operation of the project, describing it as a prominent historical event that calls for pride not only for the company, but for the Kuwaiti oil sector in general due to its role in strengthening the status of the State of Kuwait and placing it in the ranks of developed countries in the refining industry. global oil. Al-Badr stressed the importance of the project from an economic and environmental point of view, stressing its contribution to increasing the profitability of Kuwaiti oil products, opening new global markets for these products and providing more job opportunities for national cadres. He indicated that the project works to reduce emissions and environmental pollutants by producing high-quality oil derivatives that comply with international environmental requirements and standards (Euro 4) and (Euro 5), which set strict limits for impurities and pollutants in various types of fuels used in transportation, industry and others. Al-Badr congratulated those in charge of the project and thanked the former and current officials who accompanied it since its inception, including the consortium of companies executing the project. He specifically mentioned the workers in the Projects Department and workers in the Mina Abdullah and Mina Al-Ahmadi refineries, stressing that their sincere efforts were the cornerstone on which the company relied to achieve this achievement. For his part, Acting Executive Vice President for Projects, Ghanem Al-Otaibi, said in a similar statement to (KUNA) that within the framework of the environmental fuel project, the refineries of Mina Abdullah and Mina Al-Ahmadi have been modernized, developed and expanded, so that the refining capacity of the first is 454,000 barrels per day, and the second is 346,000 barrels per day of quality materials and derivatives. High and environmentally friendly. Al-Otaibi indicated that the design and completion of all units of the project was carried out according to advanced specifications that meet international environmental requirements and standards. He added that (environmental fuel) is one of the giant projects within the strategy of the Kuwait Petroleum Corporation and the Kuwait National Petroleum Company 2040, noting that its capital cost amounted to 4,680 billion Kuwaiti dinars (about 15.5 billion US dollars), of which the local private sector returned about 35%, which came through implementation and supply contracts. . He explained that the company faced many challenges during the implementation stages of the project, including the difficult conditions caused by the winter rains of 2018 and the consequences of the emerging Corona Virus (Covid 19) pandemic, which led to the postponement and disruption of the implementation of many works, noting in this regard the national cadres that succeeded With its efficiency and sincerity in making up for the shortage of expatriate workers, overcoming challenges. For her part, Executive Vice President of Mina Abdullah Refinery, Wadha Al-Khatib, told KUNA that the refinery implemented two of the three main packages that formed the strength of the project, and each of them included an alliance of three major international companies. Al-Khatib indicated that the project is working to reduce the content of nitrogen oxides, sulfur and other pollutants in our oil products and bring them to very low levels, which is reflected in the interest of increasing profitability and marketing opportunities for these products, in addition to its role in preserving the environment. She stated that the company, in the context of enhancing its environmental orientation, also succeeded in producing low-sulfur bunker fuel with environmental specifications that meet the strict requirements and standards of the International Maritime Organization, thus making Kuwait one of the first countries producing this type of fuel in the world. In turn, Executive Vice President of Mina Al-Ahmadi Refinery Shuja Al-Ajmi told (KUNA) that (environmental fuel) is a unique project at the global level, as no oil company has ever been able to carry out works of this magnitude to modernize its refineries while continuing at the same time with production and fulfillment of its obligations towards Its clients at home and abroad, and this is what (National Petroleum) has succeeded in doing. Al-Ajmi stressed that the project enhances the integration between the Mina Abdullah and Mina Al-Ahmadi refineries, as well as achieves several strategic goals, foremost of which are reaching the total refining capacity of Kuwait to 1.6 million barrels per day in 2025, in addition to achieving a high return on investment and improving the company’s performance in the environmental aspect and raising the levels of safety and operational reliability with Maintain optimum use of energy and increase equipment efficiency.

of Oil Tender

Ministry of Oil Building - Oil Sector - Third Floor
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Announcement of Exercise No.1/2022-2023

Oil Ministry Announcement of Exercise No. 2023/1-2023 The Ministry of Oil announces the offering of an internal practice for a period of 3 years, which is: Internet service provision This is in accordance with the general and specific conditions and specifications contained in the above-mentioned practice documents. The practice documents can be obtained from (Ministry of Oil - Third Floor - Financial Affairs Department - Fund Department) during official working hours starting from Sunday 26/6/2022 AD, for an amount The amount of 75 Kuwaiti Dinars (seventy-five Kuwaiti Dinars) is not refundable, and the deadline for submitting bids is on Thursday 7/7/2022 AD at 2:00 pm, in the Practices Fund of the Ministry of Oil, and the bids are valid for a period of 90 days as of From the date of opening the bid envelopes, the value of the initial guarantee for this bid is 2%, and it should be valid for the duration of the bid Bid validity period, noting that the exercise is indivisible.

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