Downstream Petroleum Sector The Growing Prominence of Asian Refining

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1 Downstream Petroleum Sector The Growing Prominence of Asian Refining Mr. Fahad Al-Dihani Deputy CEO,MAA Refinery, Kuwait National Petroleum Company-Kuwait

2 Outline.. Global refining trends Kuwait s Position in petroleum sector Introduction to KPC and subsidiaries Role of KNPC as downstream sector Opportunities and Challenges 2 2

3 Expected Global economic growth up to

4 Refined Product Demand Growth by Region 4 4

5 Asia accounts for about half of the world s total refined product demand growth... 4 Year-to-Year Change, Million Barrels per Day GDP % Rest of the World Total Asia Asia GDP Note: Asia region depicted in this chart includes Asia and Oceania. 5 5

6 Asia Gasoline Demand and Quality Changes 6 6

7 Asia Diesel Demand and Quality Changes 7 7

8 60% of Announced Capacity is in Asia / Middle East 8 8

9 Middle East Refined Product Demand Growth 9 9

10 OPPORTUNITIES AND CHALLANGES 10 10

11 Kuwait Position in Oil and Gas Sector 5 th Largest producer of crude oil among OPEC countries 10 th largest producer of petroleum and other liquid products in the world in year % of country economy is based on petroleum revenues Produces about 2.8 million barrels of crude per day, target for year 2020 is to produce about 4.0 million barrels of crude per day 80% crude Exports to Asia Pacific As above, Kuwait plays a significant role in petroleum sector globally and specifically in Asia Pacific 11 11

12 Kuwait Petroleum and other liquid production 12 12

13 Kuwait Crude Oil Export Destination, Jan to Aug

14 Kuwait Petroleum Products Export Destination 14 14

15 Subsidiaries of Kuwait Petroleum Co. KUAWAIT OIL COMPANY KUWAIT FOREIGN PETROLEUM EXPLORATION COMPANY KUWAIT AVIATION FUELLING KUWAIT NATIONAL PETROLEUM COMPANY Domestic International PETROCHEMICAL INDUSTRIES COMPANY KUWAIT GULF OIL COMPANY KUWAIT OIL TANKER COMPANY KUWAIT PETROLEUM INTERNATIONAL KPC was established in 1980, fully owned by the State of Kuwait 8 specialized Subsidiaries operate in Kuwait and across the world 15 15

16 Position of KNPC in Value Chain of Kuwait Feedstock supply Natural Gas & Condensate Sour Gas Gas Sweetening Sweet Gas Domestic Refining Gas processing 3 X 560 MM SCFD Gas for Power Generation LNG imports Kuwait Energy Balance Fuel demand Ministry of Electricity and Water (MEW) Crude Oil Oil sector requirements (KNPC, KOC, PIC) Refining 936,000 BPD Fuel Oil & Gas Oil for Power Generation Transportation & industrial (domestic & international) Domestic : M BPD Export : M BPD Most of products exported to Asian Region KNPC is responsible for Domestic Refining & Gas Processing to satisfy the local fuel demands for Power Generation, Transportation, Industries & supply products for International market 16 16

17 Refinery Petrochemicals Current Integration Propylene Petrochemicals PC Exports Polypropylene Gas Ethane Oil & Gas Production Crude Refineries & Gas Plant Full Range Naphtha Ethylene & Polyethylene H 2, C 4, Light Naphtha Benzene, Para-xylene & Styrene Current Integration level would be enhanced with increased operational flexibility and additional feed-stocks, to improve Refining Margin and achieve enhanced performance

18 Opportunities: Investments In Downstream Mega Projects in Kuwait to produce Euro IV products Clean Fuels Project : To upgrade existing refineries to meet the Euro IV product specifications. Enhance conversion capacity with minimum Bunker Fuel Oil (14 Billion USD). ZOR Refinery & Petrochemical : To process heavier crudes to meet the Low Sulfur Fuel Oil demand and produce Euro IV product specification. (ZOR Refinery Project 12 Billion USD, Petrochemical project under feasibility study) 18 18

19 Opportunities: Investments in Asia to meet regional demands KPI / Sinopec New Refinery Project in China : New refinery with a capacity of 260 KBPD with an investment of 6 Billion USD ( Under Feasibility Stage). KPI / Petrovietnam New Refinery Project in Vietnam : New refinery with a capacity 200 KBPD with an investment of 9 Billion USD ( At advanced stage of mechanical completion)

20 Opportunities: Euro IV product profile Key Products Specifications Post CFP Products Current Plan Gasoline (91, 95 & 98 UL ) Sulfur w ppm (max) Benzene/ Aromatics/ Olefins, v% max. 500 ppm 4/- / - 10 ppm 1 /35 /18 Gas Oils Sulfur wt% (max) 0.2% & 0.5% 500 ppm 10 ppm MEW Fuel Oil Sulfur, wt% (max) 4.2 % 1.0 % 20 20

21 Outlook for Downstream Refining : Grow Refining capacity up to 1.4 million BPD from existing Capacity of 936 KBPD. 2. Meet local & international Fuel demand for Transportation and Industrial sectors. 3. Maximize domestic processing of Heavy / Sour crudes according to upstream heavy crude availability profiles. 4. Achieve Operational Excellence through enhancing complexity. 5. Integrate with Petrochemicals to improve overall margins. 6. Provide required Gas Processing capacity according to upstream Gas availability profiles

22 KPC /KNPC Potential Partnership/ Opportunities in Growing Prominence of Asian Refining Sector Investment in Asia to meet growing demand of petroleum products. Export of petroleum products based on global product specifications. Export of Kuwaiti Crude Oil. Sharing of Best practices in downstream sectors for Operational Excellence. Partnership in R&D projects to develop refining technologies. Knowledge sharing forums to develop manpower assets

23 Potential Challenges for Middle East Refiners Sustain Competitive Edge over refining companies in the region Developing competent manpower and retain for operational excellence Improvement in Energy Efficiency and other OPEX Safe commissioning of mega projects (CFP/NRP) 23 23

24 Thank you 24 24

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