Saturday, July 2, 2011

Kuwait approves two huge oil projects

Kuwait's Supreme Petroleum Council (SPC) has given the green light for two long-stalled oil mega projects worth more than eight billion dinars ($29 billion).

Citing unidentified oil sources, the Al-Jarida newspaper said the SPC approved the building of a new state-of-the-art refinery and the upgrading of two of three existing refineries to raise output and produce cleaner products.