Al-Azmi: Shuaiba refinery to be shut down by 2017

A committee has been formed to look into the shutting down of Shuaiba refinery as the clean fuel project is poised to become operational by the end of 2017, said KNPC Deputy CEO Mutlaq Al-Azmi on Thursday. In a statement to reporters, he said that the committee had started on a plan that would take 12 months leading to the safe shutting down of the Shuaiba refinery. At least six months should pass after that for the clean fuel project to kick off, he said. Once KNPC's clean fuel project has been completed, the refinery will be turned into storage reservoirs at least 45 months after that, he pointed out, noting that the planned-for new clean fuel refinery (to replace the one that has been shut down) will be staffed from KNPC's employee pool of at least 2000. Regarding KNPC's financial status, he said it was very good with profits gushing in over the past two months due to the rising oil prices.