Middle East Economic Survey
VOL. LIV
No 49
5-Dec-2011
KUWAIT
Kuwait Holds Back From China Refinery
State-owned Kuwait Petroleum Corporation (KPC) has yet to commit to a planned $9bn, 300,000 b/d refinery and 1mn ton/year ethylene plant in China, even though its potential partner Chinese refiner Sinopec held a ground breaking ceremony on 18 November in Zhanjiang, Guangdong. Under the preliminary agreement KPC and Sinopec will each own 50% of the joint venture shares, and KPC will then sell a...
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