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Kuwait spent $5.3bln on 10 oil projects- newspaper
13 March 2017
Kuwait allocated 1.6 billion Kuwaiti dinars ($5.3 billion) for 10 major oil projects in fiscal 2016-2017 including the 615,000-bpd Al-Zour oil refinery, a newspaper said on Monday.
Three of the projects have been launched, six are half way through and one has been completed, Arabic daily Al-Nahar said.
Quoting oil industry sources, the paper said about 841 million dinars ($2.77 billion) have been spent on these projects during fiscal 2016-2017, which ends on March 31.
The report said key projects included Al-Zour refinery in South Kuwait, with allocations of around 352 million dinars ($1.16 billion), an olefins and aromatics project as part of a large petrochemical complex to be constructed in Al-Zour, a refinery in Vietnam, the ongoing clean fuel project, expansion of heavy oil facilities and oil seismic surveys.
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