Kuwait Reviving US$14 Billion Refineries

Kuwait will be reviving its US$14 billion project which will see new fourth oil refinery, previously on hald in March due to corruption allegations. The refinery targeting production of 615,000 barrels a day was earlier planned to be built by Japanese and South Korean companies.

The allegation which accuses government officials profiting from the project due to bypassing of central bidding committee was denied by the Kuwait government.