"KPC plans to increase its crude oil exports to China to more than 600,000 barrels per day (bpd) by 2020," KPC deputy managing director for global marketing Khalid Al-Sabah told KUNA.
Al-Sabah said during his participation in the Second China International Import Fair held in Shanghai, "Kuwait's volume of liquefied gas exports to China has increased significantly, reaching more than two million tons annually, representing 40 percent of the total exports of the Corporation."
"Kuwait, represented by Kuwait Petroleum Corporation, considers China as one of its main strategic partners," he said.
Sabah said the 2040 strategy "is to increase the production capacity of crude oil locally, including the region divided with Saudi Arabia to 4 million barrels per day and produce 2.5 billion cubic feet of non-associated natural gas by that year."
Al-Sabah explained that KPC seeks to achieve the refining capacity of oil locally to 1.4 million barrels per day by 2021 in addition to investment in international refineries to ensure the best revenues for Kuwaiti oil.
Al-Sabah talked about the upcoming projects, saying that among them "the construction of a new refinery (Al-Zour refinery) designed according to international standards and a large refining capacity of 615 thousand barrels per day; to ensure coverage of Kuwait's energy needs." Is 3000 billion calories a day. "