KNPC has shut down its oldest refinery. Crude exports will soar until new capacity starts up. Scheduled for 2018-19, this may well be delayed.

Kuwait’s state refiner KNPC shuttered its aging 200,000 b/d Shuaiba refinery at the end of March.

The plant was originally slated to operate until the start-up of the country’s ambitious $12bn ‘clean fuels project’ refinery expansion and upgrade plans. But this in turn has been pushed back from 2017 to 2018-19, and even the...