Kuwaiti firm issues tender for 615,000 bpd refinery

State-owned refiner Kuwait National Petroleum Company (KNPC) has launched a tender for its new 615,000 barrel-per-day Al Zour oil refinery, the company said on its website.

In May, Kuwait doubled the planned budget to $12 billion for the plant, which would be one of the largest in the Middle East. Rapidly rising costs in the energy industry have delayed the project and threatened its viability.

Kuwait cancelled a first tender in February after bids came in far above its initial budget. According to local newspaper reports, bids reached as much as $15 billion.

GulfNews