Kuwait Petroleum Corporation eyes 4m bpd oil production

Kuwait Petroleum Corporation (KPC) CEO, Sheikh Nawaf Al Sabah, said KPC plans to increase its oil production capacity to 4 million barrels per day (bpd) by 2035.

Speaking at the ongoing CERAWeek by S&P Global, an energy conference in Houston, Sheikh Nawaf Al Sabah highlighted the state-owned company’s plans to mark-up crude capacity which has the capacity to process 615,000 bpd.

The CEO said the idea behind this was to maximise exports of the more profitable lighter crude.

“What we are trying to do is maximise as much heavy oil into that refinery as possible since they get a lower netback in the market.” Sheikh Nawaf said at the conference.

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