Kuwait is reportedly accelerating its $10 billion (roughly KRW 13.8 trillion) integrated petrochemical complex near the Al Zour refinery complex, following the consolidation of its state-owned downstream companies. A restructuring of subsidiaries under Kuwait Petroleum Corporation (KPC) is seen as a new turning point for advancing the project.
Kuwait Integrated Petroleum Industries Company (KIPIC), which had managed the Al Zour project, has reportedly been dissolved and merged into Kuwait National Petroleum Company (KNPC). This is said to be part of a state oil-sector restructuring plan covering eight state-owned companies that was approved by the government two years ago, aimed at cost savings and improved efficiency. The Al Zour refinery (615,000 barrels per day capacity, $16 billion project), which had been managed by KIPIC, reportedly reached full operation in early 2024, and it is the associated petrochemical complex linked to the refinery that is now gaining momentum. The original report does not specify any particular process licensor, so detailed technology information is unconfirmed.