VOL. XLIII

No. 06

7-February-2000

KUWAIT

KPC Confirms Withdrawal From Indias Orissa Refinery Project

The Kuwait Petroleum Corporation (KPC) has confirmed its withdrawal from a joint-venture oil refinery project at Paradip in Orissa, on Indias eastern coast. KPC and the state-owned India Oil Corporation (IOC) agreed on the venture known as the Eastern India Refinery Project (EIRP) in 1995, and the deal was approved by an Indian cabinet committee in July 1998 after lengthy deliberations. Even at...