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Jul 05 2011

Kuwait's KNPC To Start Work On $40B Worth Of Projects In 2011

Tuesday, Jul 05, 2011

DUBAI (Zawya Dow Jones)-- Kuwait National Petroleum Co., or KNPC , the state refiner, plans to start work on 11 billion Kuwaiti dinars ($40.2 billion) worth of new projects this year, a senior company executive said, the country's official Kuna news agency reported late Monday.

KNPC deputy managing director for projects, Hatem Al Awadhi, told Kuna that the plans include construction of a new refinery and a clean fuels project with price tags of KWD4 billion and KWD4.6 billion respectively.

Other KNPC schemes include a fifth gas train at a cost of KWD315 million, while studies are under way for a KWD200 million sulfur handling project, Al Awadhi said, according to Kuna.

Kuwait presently operates three refineries at Mina Al Ahmadi, Al Shuaiba and Mina Abdullah with a combined processing capacity of around 940,000 barrels a day.

Newspaper Web site: http://www.kuna.net.kw/NewsAgenciesPublicsite/ArticleDetails.aspx?id=2178111&Language=en

-By Dubai Bureau, Dow Jones Newswires; +9714 446-1686; djnews.dubai@dowjones.com

Copyright (c) 2011 Dow Jones & Co.

(END) Dow Jones Newswires

05-07-11 0657GMT

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