Thursday, 20 August 2009 at 14:34
Kuwait's oil minister said on Wednesday he was unaware of any plans to revive a refinery project in the US state of Louisiana.
"I'm not aware of such a project," Sheikh Ahmad al-Abdullah al-Sabah told reporters at Kuwait's parliament.
Kuwait's Arabic language daily, Al Watan, citing unidentified sources familiar with the matter, reported on Wednesday the Louisiana refinery would be considered compensation for Washington after Kuwait cancelled a multi-billion petrochemical project with Dow Chemicals Co. last year.
Kuwait scrapped the deal after some lawmakers voiced opposition.
The move led Dow to try to ditch its own planned takeover of Rohm and Haas Co as proceeds from the Kuwait deal were to fund the buy. Rohm sued Dow to complete the deal.
Kuwait and Louisiana signed a memorandum of understanding in November 2006 to study building a joint venture oil refinery in the southern US state.
Your comments