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OIL AND GAS

Kuwait hails OPEC’s role for maintaining market

January 18, 2018

Deputy Prime Minister and Minister of State for Cabinet Affairs Anas Al-Saleh on Tuesday lauded the key role undertaken by the Organization of Petroleum Exporting Countries (OPEC) for achieving the crude market balance.

The minister made the statement during a meeting with the visiting OPEC’s Secretary — General Mohammad"... Continue Reading

Kuwait hails OPEC's role for maintaining market

January 17, 2018

Deputy Prime Minister and Minister of State for Cabinet Affairs Anas Al-Saleh on Tuesday lauded the key role undertaken by the Organization of Petroleum Exporting Countries (OPEC) for achieving the crude market balance.
The minister made the statement during a meeting with the visiting OPEC's Secretary General Mohammad Sanusi Barkindo -- with attendance of Minister of Oil,"... Continue Reading

Kuwait faces difficulties as Iraq rejects gas prices

January 16, 2018

The agreement to supply Kuwait with Iraqi gas is facing difficulties after Iraq rejected the price offered by Kuwait for its gas which took into consideration the compensation owed to it due to the invasion, reports Aljarida daily quoting sources.

They said the point of contention is the pricing of 1,000 cubic feet of gas, for"... Continue Reading

Kuwait to invest $112b to boost oil and gas production

January 15, 2018

Kuwait is planning to invest $112 billion (Dh411 billion) in the next five years in the oil and gas sector to boost production, managing director of Kuwait Petroleum Corporation said.

In the oil sector, the Gulf country will increase production capacity from the current levels of 3.2 million barrels per day to four million barrels"... Continue Reading

KPI acquires 50 pct ownership of mega Omani refinery

January 15, 2018

Kuwait's High Petroleum Commission has confirmed that Kuwait Petroleum International (KPI), a Kuwait Petroleum Corporation (KPC) affiliate, now owns a 50 percent share of Oman's Duqm refinery.
The Kuwaiti High Petroleum Commission convened a meeting Sunday presided over by His Highness the Prime Minister and head of the commission Sheikh Jaber Mubarak Al-Hamad Al-Sabah,"... Continue Reading

Ministry of Electricity sings KD 12-million maintenance contract

January 15, 2018

Ministry of Electricity sings KD 12-million maintenance contract

Minister of Oil and Minister of Electricity and Water Bekheet Al-Rishidi signed on Sunday a contract worth KD 12 million (USD 36 million) for annual maintenance of equipment at Western Doha power station.

The Ministry added in a press statement that this project aims at conducting periodical maintenance for the ministry's equipment"... Continue Reading

Higher oil prices should keep ‘reforms’ on track

January 14, 2018

Independent Oil Analyst Oil prices are heading towards $70 per barrel. This will be good news for oil-exporting countries, as it means higher income and reduction in the deficit that resulted from the fall of oil prices from more than $100 per barrel to less than $40 per barrel in 2014. Most of the oil-exporting countries depend 75 percent and more on oil as their main source of income.

"... Continue Reading

Oil hits $70 for first time in 3 years despite bearish pressures

January 14, 2018

Oil’s rise to $70 a barrel for the first time in three years had clear triggers as supplies tighten and demand climbs, yet it still surprised many traders because there were so many reasons for prices to falter, said experts at Bloomberg.

Those bearish pressures are still in place, and could make it tough for crude to hold onto its gains, they stated.

One thing the major forecasters"... Continue Reading

Kuwait to invest $112b to boost oil and gas production

January 13, 2018

Kuwait to invest $112b to boost oil and gas production

Kuwait is planning to invest $112 billion (Dh411 billion) in the next five years in the oil and gas sector to boost production, managing director of Kuwait Petroleum Corporation said.

In the oil sector, the Gulf country will increase production capacity from the current levels of 3.2 million barrels per day to four million barrels"... Continue Reading

Start of operations at Al-Sabriya Jurassic oil, gas field - KOC

January 11, 2018

Start of operations at Al-Sabriya Jurassic oil, gas field - KOC

Kuwait Oil Co announced on Wednesday the immediate launch of operations at Al-Sabriya field, which will produce Jurassic oil and gas.
The field is the first of three similar projects, which have been under construction, and will 'contribute to the gradual increase of gas and oil production,' the state-run firm said in a statement.
The"... Continue Reading

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