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State refinery operator Kuwait National Petroleum Corporation (KNPC) may stage an initial public offering (IPO) of a 20 per cent share in its planned 615,000-barrel-a-day refinery at Al-Zour. ‘We have a directive from the Supreme Petroleum Council to introduce 20 per cent equity in the NRP [new refinery project], and we have a consultant working with us on this,’ KNPC chairman and managing director Sami al-Rushaid told the third MEED Major Project Opportunities in Kuwait conference on 15 May. ‘An IPO may be too big, but there are other options for local companies or companies listed on the local market.’