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Tuesday, 24 January 2012

AFP: Kuwait reaches deal with Total for China refinery: report

Kuwait Petroleum Corp. has reached a deal with France's Total to be a partner in a Kuwait-China refinery joint venture, the Kuwaiti oil minister was Tuesday quoted as saying.
Mohammad al-Baseeri said the deal was struck after Shell withdrew from talks in the $9 billion refinery and petrochemical complex, Al-Jarida newspaper reported.
KPC's international arm, Kuwait Petroleum International (KPI) and China's state-owned Sinpec signed an agreement more than two years ago to build the complex in southern Guangdong province.