merchant
Number of posts : 83
KARMA : 2
Registration date : 2009-02-23
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 Subject: Kuwait scraps $14 billion refinery project Sun Mar 15, 2009 7:57 pm |
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KUWAIT CITY - Kuwait's prime minister says the government is scrapping a $14 billion project to build a fourth refinery in the oil-rich country.
Al-Watan newspaper quotes Sheik Nasser Al Mohammed Al Sabah as saying the decision is in compliance with results from an investigation by Kuwait's financial watchdog, the Audit Bureau.
He did not elaborate in the remarks published Sunday. But lawmakers have accused the government of profiteering from the project because the contracts to build it did not go through the Central Bidding Committee. The Cabinet denies the accusations.
This is the second major oil contract to be canceled by the government in recent months.
The refinery was to come on line 2012 with a capacity of 615,000 barrels a day.
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