Oil refineries in GCC states recorded tangible rise in refining operations in the past three months, shipping up to 3.91 million cubic ton of refined oil in four weeks till August 10th, according to the Diplomatic Center for Strategic Studies.
The center, in a report released on Wednesday, revealed plans to export "the largest volume of gasoline to Asia in the coming eight months," in shadow of the "largest expansion of the oil refineries in the Gulf region since decades." Crude productivity in the GCC countries will be upped by 815,000 barrels per day by the year-end.
At present, Kuwait invests USD 17 billion to develop its oil refineries, as part of the mega venture, the Clean Fuel Project, due to be inaugurated in 2018.
The clean fuel venture envisages upgrading and expanding the existing two refineries at Mina Abdulla and Mina Al-Ahmadi. The CFP will transform the two refineries into an integrated merchant refining complex that meets the diversified requirements of the world oil market.