Kuwaiti minister denies news to buy a share at Meidour refinery

The Kuwaiti minister of oil Adel al-Sabeih has denied that his country has any intention to buy a share in Egyptian- Israeli Meidour oil refinery.

Al-Sabeih said in a statement to the Kuwaiti daily al-Watan replying to news reports on Thursday to this effect, that there is no intention to buy a share in Meidour refinery.

Al-Sbeih explained that his talks with the Egyptian minister of oil Sameh fahmi did not deal with the possibility of Kuwait's buying a share at the refinery, after Egypt buys Israel's share.

Worthy mentioning that the Egyptian general commission owns 60% of the refinery which works at a capacity of 100,000 barrels every day while the Israeli Meirhaf group owns 20%, the Egyptian al-Ahlai ( people ) bank owns 18% and 2% owned by investors working in the private sector.