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FINANCIAL NEWS
Kuwait adds USD2.88b to Al Zour refinery budget
22 Jul 2015
(MENAFN) Kuwait’s oil ministry decided to add USD2.88 billion to the budget allocated for Al Zour refinery, reaching now USD16 billion, according to the oil minister, Arabian Business reported.
The new addition had to obtain an official approval from Kuwait’s Supreme Petroleum Council as a result of its urging importance, the oil minister added in the statement.
The refinery presently enjoys an output of around 615,000 barrels per day. The addition was set to be inaugurated years ago but it was constantly delayed due to conflicts between the parliament and the cabinet of Kuwait.
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