Kuwait's KIPIC has sufficient stocks despite al-Zour shutdown, CEO says (updated)

Korea Petroleum Industries Co

16/11/2023 11:54

(Adds detail)
    By Ahmed Hagagy
       KUWAIT, Nov 16 (Reuters) - Kuwait Integrated Petroleum
Industries Company (KIPIC) 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 on
Thursday.
    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 sulphur 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.

 (Reporting by Ahmed Hagagy
Editing by Nadine Awadalla, Jason Neely and David Goodman)
 ((Nadine.Awadalla@thomsonreuters.com;))