Kuwait' plans to increase capacity oil production from the current 2.7 million bpd to between 3.4 and 4-million bpd over the next 10 years, for which the country will have to venture into new areas. In pursuit of its' strategy to enter more oil markets that could use its sour crude oil, Kuwait has ventured into a refinery and petrochem project in China. Kuwait and China have signed a memorandum of understanding (MOU) to jointly build a refinery and petrochemical plant in China's Kuan Shu province. Processing capacity of the refinery is estimated to be in the range of 200,000-400,000 barrels per day (bpd), whereas details about the petrochemical project are yet to be disclosed.
The refining and petrochemicals complex is to process crude oil from Kuwait, and is planned to be onstream in 2010 in the southern province of Guangdong.
06-Dec-05 
{{comment.DateTimeStampDisplay}}
{{comment.Comments}}