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Monday, March 16, 2009

Kuwait parliament again scuttles refinery project

ABU DHABI — Kuwait has for the second time abandoned a project to build an oil refinery, following heavy criticism from parliament.   

Kuwaiti Prime Minister Nasser Al Mohammed Al Sabah said the cancellation of the $14 billion project was in accordance with recommendations by the Audit Bureau. Nasser, in remarks on March 15, did not elaborate, Middle East Newsline reported.

The oil refinery, meant to refine 615,000 barrels per day, in 2012, more than doubled in cost. Parliament was angered that the contracts already awarded were not processed through official tenders.

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This marked the second major energy contract canceled by the Kuwaiti government. Parliament has sought to play a major oversight role in both major energy and weapons projects.



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