State-owned downstream operator Kuwait National Petroleum Company (KNPC) has requested approval for a larger budget for its planned project to develop a new fuel depot in Kuwait’s Al-Mutlaa areaLebanon’s Consolidated Contractors Company (CCC) submitted a low bid of KD357.3m ($1.16bn) for the project ahead of a deadline of 22 December 2024, but the project has yet to be approved by KNPC’s parent organisation, Kuwait Petroleum Corporation.In May, CCC’s low bid was 43% above the project’s target budget.Five companies submitted bids for the project, with only KD1.1m ($3.6m) between the two lowest prices.The bidders were:CCC (Lebanon) – KD357.3mSinopec Luoyang (China) – KD358.4mHeisco (Kuwait) – KD384.5mLarsen & Toubro (India) – KD413.7mOpen Tower General Trading & Contracting Company (Kuwait) – KD505.5mThe scheme is known as the Al-Mutlaa New Fuel Depot project and its scope is expected to include:Development of new pumping facilities at the Mina Al-Ahmadi and Shuaiba refineriesLaying of cross-country pipelines from the Mina Al-Ahmadi and Shuaiba refineriesConstruction of a local market depotInstallation of safety systemsInstallation of fire-fighting systemsConstruction of storage tanksAhead of the main contract being tendered, there were long-running debates within KNPC about the types of fuel that will be transported to the depot.The facility will store fuels for distribution within Kuwait.Some officials wanted fuel that does not meet European import standards to make up a high volume of the fuel transported to the facility, so that more export-quality fuel can be sold to foreign markets.Other officials wanted the European-standard fuel to be used more widely in Kuwait due to its lower environmental impact. (ICE KUWAIT)

Fonte notizia: Meed