Kuwait increased actual spending on its landmark Clean Fuel Project (CFP) by nearly 88 million Kuwaiti dinars ($290 million), a local newspaper reported on Monday. 

The OPEC member allocated around 3.39 billion dinars ($11.18 billion) for the project just before it was launched more than eight years ago, the Arabic language daily Alanba said, citing official oil sources in the Gulf state. 

But actual spending on the project, which was completed in 2021, stood at around 3.478 billion dinars ($11.477 billion), the paper said. 

According to the report, the state-owned Kuwait National Petroleum Company (KNPC), the country’s downstream investment arm, attributed the increase to “additional work” for some contractors and suppliers. 

The main increase was in Al-Ahmadi Oil Refinery project, with additional spending of nearly 40 million dinars ($132 million), the report noted. 

CFP, one of the world’s largest single refining projects, involved upgrading Al-Ahmadi and Mina Abdullah Refineries and the construction of the new Al-Zour Refinery in South Kuwait with an output capacity of 615,000 barrels per day. 

(Writing by Nadim Kawach; Editing by Anoop Menon)

(anoop.menon@lseg.com)

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