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Monday , January 30 2023

Kuwait Oil Company director booked in for corruption – KD 4 million embezzled

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KUWAIT CITY, April 23: The Executive Management of the oil sector has said it is determined to fight corruption in all its forms, after referring one of the KOC directors of one of the projects to the Anti- Corruption Authority (Nazaha) following suspicions of embezzling about four million dinars of public money, reports Al-Rai daily.

Oil sources familiar with the issue told the daily, “The referral of the director came upon the recommendation of an Independent Investigation Commission following queries submitted to the Minister of Oil by one of the MPs referring to the observations contained in the report of the Audit Bureau for the year 2017/2018 citing discrepancies in one of the contracts for the installation of oil pipelines, which caused losses to public money.

The sources pointed out that the Commission of Inquiry issued a preliminary report indicating the existence of suspicions of abuse and embezzlement of public funds, which called on the Executive Management to submit the issue to the Anti- Corruption Authority for consideration and verification. The sources pointed out that “further steps will follow this procedure”, stressing at the same time that “executive management in the oil sector is determined to fighting corruption.”

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