Committee to Resolve Kuwait’s Delayed Payment to Oil Contractors

published:04/10/2023 10:59 GMT

OPEC producer Kuwait has formed a committee to resolve persistent delays in the payment of contractors awarded oil projects in a bid to speed up project execution, a Kuwaiti newspaper reported on Wednesday. The state-owned Kuwait Petroleum Corporation (KPC), which manages the GCC country’s hydrocarbon industry, is spearheading plans to tackle the problem following complaints by contractors they are not getting paid on time, the paper said. It quoted KPC sources as saying the committee...More