Kuwait to Invest $79b in Oil Projects

Kuwait to Invest $79b in Oil Projects

Kuwait Oil Company (KOC) is willing to pump about $79b of investments over the next five years as part of its plans to increase the production capacity to 4mb/d from 3.1mb/d, Trade Arabia stated.

The planned projects include new petrochemical plants and expansion of existing units owned jointly by Petrochemicals Industries Company (PIC), a subsidiary of KOC, stated PIC’s CEO, Mohammed Al Farhoud, according to Oman Tribune.

Another project involves establishing an ethylene glycol plant in the US with a production capacity of 750,000 tons per year, Al Farhoud added.

It worth noting that KOC had awarded contracts worth around $25.37b between 2014 and 2016 to boost its production capacity.

Mahinaz El-Baz 312 Posts

Mahinaz El Baz received her MSc degree in Foreign Trade Economics from Helwan University in 2016. She has two years of experience in journalism and four years of experiance in economic analysis. She received the "Best Economic Article Award" in 2016 from CFA Society Egypt.

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