KOTC Drops Plans to Purchase New Crude Oil Tankers 

The Kuwait Oil Tankers Company (KOTC), a wholly-owned subsidiary of the state-owned Kuwait Petroleum Corporation (KPC), has abandoned its plans to purchase six 150,000 dwt crude oil tankers, but is going ahead with orders for six oil product carriers, according to a statement by KOTC's Chairman and Managing Director, Mr. 'Abd al-Fattah al-Badr.

In his statement to the Kuwait daily al-Qabas on 5 August, Mr. al-Badr...