MRC -- Kuwait Integrated Petroleum Industries Company has sufficient stocks of diesel, naphtha, kerosene and fuel oil to meet obligations to local and foreign customers despite an almost complete shutdown of the al-Zour refinery last week, CEO Walid al-Badr told Reuters .
Gas supplies to the refinery were halted in a "force majeure situation" owing to a malfunctioning gas valve and the operations team was working to resume operations gradually, Badr said, adding that "these issues happen in this industry".
The company is working to restore operations within 10 days, he said. KIPIC had announced earlier on Thursday that a "limited fire" in a sulfur unit at the refinery had been brought under control without affecting operations.
Investigations into the cause of the fire are ongoing, a source close to the matter told Reuters, adding that initial indications are that the refinery shutdown and fire are unrelated.
We remind, Kuwait Integrated Petroleum Industries Company is in early talks with companies to partner on an integrated petrochemicals complex worth up to $9.70 B, its CEO said. The company also aims to raise capacity at its Al-Zour refinery by 20-30% above the maximum 615,000 barrels per day it expects to reach this month, Walid Al-Badr told Reuters. Initial discussions have begun with three potential partners, two from Asia and one from Europe, to build an integrated petrochemical complex alongside the Al-Zour plant.