Deputy Chief Executive Officer (CEO) of Kuwait's Mina Al-Ahmadi refinery Ahmed Al-Jeemaz said on Wednesday that the biofuel project has made long strides reaching 65 per cent near completion.
The project aims to produce approximately 800,000 barrels per day by 2018, he added. Speaking to Kuwait News Agency (KUNA) on the sidelines of the participation of Kuwait National Petroleum Company (KNPC) in the 'Petrotech Middle East 2016) exhibition and conference, he said that the project will have a significant economic returns through marketing capability of biofuel in the European Union area and the United States.
He explained that the biofuel will enjoy the required specifications and approval with the European environmental standards, which gives Kuwait strong access to the European market and increase the competitiveness and marketing capacity in the European Union area, which imposes environmental standards for such fuel.
He stressed that the project is one of the most vital projects as it provides environmental improvements to the product for the domestic market as well as by reducing environmental pollution for electric power plants, in addition to providing employment opportunities for national labor estimated at about 1,000 jobs.
He pointed to the closure of the Shuaiba refinery in April of next year and attach it to the Mina Abdullah refinery. Asked about the government and the Supreme Petroleum Council's approval to set up an integrated petroleum industry company, Al-Jeemaz confirmed that this company was born giant and very significant because of its importance in running Al-Zour refinery and terminals to import liquefied natural gas and the presence of an attached petrochemical complex.
He said the company's production capacity will be up nearly at 615,000 barrels per day, becoming one of the largest refineries in the region, adding that 40 percent of its production will be dedicated to the power stations of the low-sulfur biofuel.