Kuwait, the world's seventh-largest oil exporter, sits on 10 percent of proven global reserves.
Author: Ksenia Kochneva
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Kuwait Top State Oil Company $74 bn Plans
The investment figure for the next five years projects is much higher than an earlier estimate given by Kuwait's Oil Minister Mohammad al-Olaim
Earlier it was estimated as much as $55 bln., it had increased and now the amount includes about $20 bln. for a planned upgrade of Kuwait's Mina Abdullah and Mina al-Ahmadi refineries.
The projected Kuwait Petroleum Corp (KPC) budget through to 2013 also includes a bit lees than $20 bln. to build the 615,000 bpd al-Zour refinery.
KPC also planned several other projects to boost productivity and performance of the oil sector.
Kuwait, the world's seventh-largest oil exporter, sits on 10 percent of proven global reserves.
Author: Ksenia Kochneva
Kuwait, the world's seventh-largest oil exporter, sits on 10 percent of proven global reserves.
Author: Ksenia Kochneva
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