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Chevron shuts Kuwait office
- Kuwait: Sunday, July 26 - 2009 at 10:11
US-based energy major Chevron Corp. has announced the closure of its main office in Kuwait after exiting negotiations with state-run Kuwait Petroleum Corporation (KPC) and its subsidiaries, over a key contract to provide technical services, Meed Magazine has reported. Chevron had been trying to negotiate fresh terms for a technical services agreement with KPC subsidiary Kuwait Oil Company (KOC) that expired in August 2008, under which it provided consultancy and management services. The energy firm has said it could not make enough money from the agreement on its current terms to make it worthwhile for a company of its size.
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StaffSunday, July 26 - 2009 at 10:11 UAE local time (GMT+4)
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