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KW23_EN_AlZourRefinery_ Khaled Al Awadhi_PORTRAIT

KUWAIT - Green Economy

Khaled Al Awadhi

Deputy CEO, Kuwait Al-Zour Refinery

Bio

Khaled Al-Awadi holds the position of deputy CEO at the Kuwait Integrated Petroleum Industries Company (KIPIC) responsible for Al-Zour Refinery Project. He has extensive experience in the oil and gas industry, especially in the management of capital projects, spanning more than 33 years. He holds a bachelor’s degree in civil engineering from Kuwait University. Prior to assuming this position, Al-Awadhi held several administrative and leadership positions, including chairman of the board at TKSC and chairman of the capital budget committee at KPC for FY 2021/22. Al-Awadi also participated in the heading and membership of a number of committees and technical teams in KIPIC.

"The main advantages of Al-Zour Refinery are its high-quality product specifications meeting the latest environmental standards for clean petroleum products and fuels."
TBY talks to Khaled Al Awadhi, Deputy CEO of Kuwait Al-Zour Refinery, about the advantages and opportunities offered by the facility.
What could you tell us about the greatest advantages and opportunities for Kuwait offered by the refinery?

Al-Zour Refinery project has entered the construction phase end of 2015 and was completed early this year. The commissioning of the mini refineries has started in sequence and the first refinery is already in commercial operation, soon by March 2023 the second and third refineries will be online. The main advantages of Al-Zour Refinery are its high-quality product specifications meeting the latest environmental standards for clean petroleum products and fuels. As an example, the refinery is producing fuel oil with low sulfur content of 0.5% wt. which meets the International Maritime Organization new regulation for sulfur limits in banker fuel. In addition, it produces for international export the Ultra-Low Sulfur Diesel, Aviation Turbine Kerosene ATK with high quality petrochemical Naphtha. While for domestic export the refinery produces liquified petroleum gas LPG. In addition, the project opens an attractive opportunity for further downstream integrations with Petrochemicals projects to upgrade the low sulfur fuel oil to higher value products.

What is your perspective of the potential offerings in the country in terms of wealth generation and financial stability in the coming months?

Refinery operators around the world would always look to the margin between crude oil prices and finished products market prices. This margin is the main financial driver for refinery operators to generate revenues and ultimately profits. Such margins sometime narrow down with increased crude prices. However, for crude oil exports from oil producing countries such improvement in crude prices will provide higher financial returns and accordingly financial stability.

What could be done to further increase the potential of Kuwait’s oil and gas sector capacity?

KIPIC derives its growth strategy from KPC long term strategy to ensure that oil and gas sector works as one large body with homogenous and consistent growth. The present dynamics drives into energy transition toward clean and renewable energy, and KIPIC has already started working on its energy transition plan along with KPC and other sister companies in the oil, gas, and petrochemicals sector. On other hand, moving faster into digitalization and AI is a key aspect when it comes to increasing the potential of oil, gas, and petrochemical sector.

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