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Kuwait Planning to Review Oil Projects

Written: 2010-02-16 13:40:33Updated: 2010-02-16 14:29:33

Kuwait Planning to Review Oil Projects

Kuwait is planning to review the implementation of massive oil projects that have been delayed due to debates within the Kuwaiti government.

The head of Kuwait’s state-run oil company said Tuesday that the Kuwaiti government’s supreme decision-making organization in charge of oil matters will begin new discussions on two oil projects, which are worth a total of 30 billion U.S. dollars.

The projects are to build two oil refineries capable of processing 615-thousand barrels of oil a day.

Four South Korean companies and one Japanese firm were selected as the builders of the refineries.

The South Korean companies won the order through an open bid issued by the Kuwaiti government in 2008.

However, the Kuwaiti parliament is arguing that new builders be selected, saying that the contract was not approved by the nation’s central bidding commission.


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