Kuwait’s Supreme Petroleum Council has approved Kuwait Petroleum Corporation’s (KPC) plans for the construction of a giant oil refinery and a second petrochemical plant worth more than 5 billion Kuwaiti dinars (US$13.9 billion, US$1=0.36 dinar). The council, headed by Prime Minister Shaikh Sabah Al Ahmad, approved KPC’s budget for the fiscal 2005-06 and the strategy…