Plans to store Kuwaiti oil in Vietnam and China has economic purposes and is related to the refineries' projects in the two countries, Kuwait-based Al Rai daily reported Tuesday citing Saad Al Shuwaib, chief executive of state-owned Kuwait Petroleum Corp.
"Building storage facilities has economic purposes related to the refineries' operations and the continuity of the crude flow to these refineries," Shuwaib told the paper adding that there are future plans in this field that will be announced later.
Shuwaib refused to comment on whether Kuwait's plan to store oil overseas is related to the possibility of an attack on Iran, the paper reported.