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Kuwait Plans $7.7bn Oil Industry Investment by April 2011


Kuwait : 09 February 2010

Speaking in Doha, Qatar earlier on today, Kuwaits’ Secretary General of the Supreme Planning Concil, Adel Al Wuqayan Kuwait revealed plans for the State to invest almost 8 Billion dollars ( KD2.21bn / USD7.7bn) in the oil industry starting from the 1st of April, 2010.

Further spending, based on an elevated oil price (£43) was announced in the Kuwaiti parilament today, according to Bloomberg.

Kuwait’s Finance Minister, Mustafa Al Shimali annouced a budget of KD16 bn ($56bn), some 30% more than the current fiscal year.

Paul Holdsworth, Gulf Jobs Market News, 9th Feb, 2010

Paul Holdsworth, Staff Writer, Gulf Jobs Market News
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