SPOILER ALERT!
Kuwait says to drop $15 bln oil refinery plan-paper
KUWAIT, March 15 - Kuwait's federal government will certainly cancel a $15 billion oil refinery project, which satisfied resistance in parliament, in its once a week meeting on Monday, the nation's prime minister stated in remarks released on Sunday.
"We will formally quit the task in the coming cupboard conference," Sheikh Nasser al-Mohammad al-Sabah told al-Watan paper.
Kuwait's cabinet had actually asked the nation's money guard dog, the Audit Bureau, to explore the oil refinery task after a team of legislators raised concerns regarding the strategy as well as advised the federal government versus signing final agreements.
Sheikh Nasser informed Watan the federal government is devoted to the end result of the Bureau's record on the refinery.
The Audit Bureau's on the refinery was not revealed, however according to media reports, it had actually ended the project was not practical.
In May, state refiner Kuwait National Petroleum Carbon Monoxide (KNPC) granted offers worth $8.4 billion to four South Oriental firms as well as one Japanese to build the 615,000 barrels daily al-Zour refinery with more work to be granted at some stage later. The final agreements were yet to be signed.
A KNPC representative had no instant comment on the record.
https://www.irochemical.com has awarded a package worth $4 billion to construct crude distillation systems to a consortium of JGC Corp of Japan as well as GS Engineering and also Building And Construction Corp of South Korea.
KNPC likewise has actually awarded a $2 billion project to build hydrogen production devices to SK Energy of South Korea, while Daelim of South Korea won a $1.2 billion project to set up tank.
Hyundai Engineering of South Korea won a $1.1 billion task for aquatic export centers in May.
The task, which was handled by UNITED STATE firm Fluor Corp ， has actually been encountering opposition in parliament.
In December, Kuwait junked a $17 billion joint-venture with U.S. company Dow Chemical simply a month after signing the offer stating it was no longer feasible due to the global crisis after parliament opposed the deal.
"We will formally quit the task in the coming cupboard conference," Sheikh Nasser al-Mohammad al-Sabah told al-Watan paper.
Kuwait's cabinet had actually asked the nation's money guard dog, the Audit Bureau, to explore the oil refinery task after a team of legislators raised concerns regarding the strategy as well as advised the federal government versus signing final agreements.
Sheikh Nasser informed Watan the federal government is devoted to the end result of the Bureau's record on the refinery.
The Audit Bureau's on the refinery was not revealed, however according to media reports, it had actually ended the project was not practical.
In May, state refiner Kuwait National Petroleum Carbon Monoxide (KNPC) granted offers worth $8.4 billion to four South Oriental firms as well as one Japanese to build the 615,000 barrels daily al-Zour refinery with more work to be granted at some stage later. The final agreements were yet to be signed.
A KNPC representative had no instant comment on the record.
https://www.irochemical.com has awarded a package worth $4 billion to construct crude distillation systems to a consortium of JGC Corp of Japan as well as GS Engineering and also Building And Construction Corp of South Korea.
KNPC likewise has actually awarded a $2 billion project to build hydrogen production devices to SK Energy of South Korea, while Daelim of South Korea won a $1.2 billion project to set up tank.
Hyundai Engineering of South Korea won a $1.1 billion task for aquatic export centers in May.
The task, which was handled by UNITED STATE firm Fluor Corp ， has actually been encountering opposition in parliament.
In December, Kuwait junked a $17 billion joint-venture with U.S. company Dow Chemical simply a month after signing the offer stating it was no longer feasible due to the global crisis after parliament opposed the deal.
