State-owned Kuwait Oil Company (KOC) said Thursday it has signed a contract worth 48.35 million dinar (around 170 million U.S. dollars) with an Italian company for laying down a crude oil pipeline. That was part of the company’s plan to inject 17.5 billion to 24.5 billion dollars into oil and gas facilities in the next […]

Kuwait plans to increase spending by about 34 percent in the fiscal year starting April 1 and is projecting a budget deficit of 6.46 billion dinars ($22.4 billion), according to a copy of the draft sent to parliament. Spending is forecast at 16.16 billion dinars and revenue at 9.7 billion dinars in the proposal. Oil […]

Kuwait’s state-run Petrochemical Industries Co (PIC) plans to build an olefins complex at a cost of about $3 billion, the firm’s managing director said in an oil ministry publication. “PIC plans to build a third olefins complex…The enterprise is still in the initial study phase and we expect to complete it by February 2010,” Managing […]

Iran has the infrastructure in place to consider expanding its gas export options to markets in Kuwait, the head of Iran’s gas transport company said. Reza Almasi, the head of Iran’s Gas Transportation Co., told that Kuwait was keen to link up to gas transport systems in Iran.