This is the second cancellation of a major oil project in Kuwait since December.
KUWAIT CITY (AP) -- Kuwait is scrapping a $14 billion project to build a fourth refinery in the oil-rich country, the prime minister said in remarks published Sunday. The announcement was the second cancellation of a major oil project since December amid government corruption allegations.
The scrapping of the 615,000 barrels a day refinery, which included participation by Japan's JGC and South Korea's GS Engineering and Construction Corp., comes just months after Kuwait backed out of a $17.4 billion joint venture with U.S. giant Dow Chemical Co. in late December, just days before the petrochemical project was to be launched.
The scrapped refinery was to come on line 2012.
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