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OIL AND GAS

Kuwait Al-Marzouq satisfied with OPEC oil cut resolution – Kuwait, Russia to sign gas import deals

July 22, 2017

OPEC member states’ output cut conformity is “historic and unprecedented, Kuwaiti Minister of Oil Essam Al-Marzouq said on Friday.

Upon arrival in Saint Petersburg in Russia to attend a joint ministerial monitoring meeting, Al-Marzouq, who doubles as Minister of Electricity and Water, said he was satisfied with OPEC"... Continue Reading

Why GCC demand for petrol and diesel is waning

July 22, 2017

Consumer demand for petrol and diesel in Gulf countries has been waning since price reforms were initiated by regional governments and subsidies were dropped. Hence, many residents are switching from more expensive higher-grade petrol to economical lower-grade options, analysts said.

Demand for petroleum products was growing robustly"... Continue Reading

Kuwait's gas production will rise to 510 mln cubic feet - Minister

July 21, 2017

The Kuwait Petroleum Corporation(KPC) and its affiliates plan to ratchet up free gas production capacity to 510 million cubic feet and increase light oil output to 200 thousand barrels per day (bpd) by December, a Kuwaiti senior official said on Wednesday.

Speaking to the press, Minister of Oil Essam Al-Marzouq said that capacity"... Continue Reading

Kuwaiti Oil Min. touts OPEC cut conformity

July 21, 2017

OPEC member states' output cut conformity is 'historic and unprecedented, Kuwaiti Minister of Oil Essam Al-Marzouq said on Friday.
Upon arrival in Saint Petersburg in Russia to attend a joint ministerial monitoring meeting, Al-Marzouq, who doubles as Minister of Electricity and Water, said he was satisfied with OPEC members' abidance by the recent oil output cut"... Continue Reading

Kuwait's oil minister says no more production cuts are needed

July 20, 2017

Kuwait's oil minister says no more production cuts are needed

Although the oil market is taking longer than anticipated to return to balance, the oversupply should be cleared by the time OPEC’s cuts expire at the end of March next year, and the cartel does not need to further cut output for the time being, Kuwait’s Oil Minister Essam al-Marzouq told Reuters in an interview"... Continue Reading

Kuwait Petroleum International Chief: Refineries Will Continue despite Increased Electric Cars Production

July 20, 2017

The future of oil demand in wake of the growing request for electric cars was at the heart of discussions among officials and executives during the World Petroleum Congress (WPC) held in Istanbul, Turkey last week.

International Energy Agency (IEA) Executive Director Fatih Birol made a few key points on the matter and told the"... Continue Reading

ABB: Building Growth Momentum 

July 20, 2017

ABB: Building Growth Momentum 

(ME NewsWire)-- SECOND QUARTER HIGHLIGHTS

  • Total and base orders grew 3%1; higher orders in all regions
  • Revenues up 1%
  • Operational EBITA margin2 12.4%, dampened this quarter by commodity prices and some overcapacity
  • Net income $525 million
  • Cash flow from operating activities $467 million reflects timing of short-term"... Continue Reading

The World Games 2017 Delivered across Europe with SES Video

July 20, 2017

The World Games 2017 Delivered across Europe with SES Video

(ME NewsWire)-- The 10th edition of the World Games 2017 will be distributed in Europe jointly by SES and ATM System, the official host broadcaster for the multi-sport event. The international event, taking place in Wroclaw, Poland, from 20 to 30 July 2017, will be transmitted via two SES satellites: SES-4 located at 22 degrees West and ASTRA 3B at 23.5 degrees"... Continue Reading

Mercer Sets Forth Bold New Ideas to Address the Sustainability of Global Retirement Systems

July 20, 2017

(ME NewsWire)-- Mercer, a global consulting leader in advancing health, wealth and careers, and a wholly-owned subsidiary of Marsh & McLennan Companies (NYSE:MMC), today announced the launch of “Bold Ideas for Mending the Long Term Savings Gap,” which addresses ways to improve the $70 trillion global retirement savings deficit. These ideas are part"... Continue Reading

Powerwave Results Sets Path to Injection Technology of Choice in Kuwait

July 19, 2017

Wavefront Technology Solutions Inc. (Wavefront or the Company) (TSX:WEE) (OTCQX:WFTSF) a global leader in the advancement of fluid injection technology for oil and gas well stimulation and Improved/Enhanced oil ('IOR/EOR') recovery is pleased to provide an update on Powerwave activities"... Continue Reading

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