Wednesday , October 17 2018

Tag Archives: oil

$80 pb is ‘dangerous’ to the world economy

During an oil conference in London last week, international oil countries were warned about the danger of oil prices rising above the level of $80. It is a red-line and a warning sign that such a level will lead to weakening of the world economy and possibly recession. Oil companies …

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Kuwait stops crude export to US – Market not attractive

Bloomberg last week published brief news with reference to Kuwait’s decision to stop selling crude oil to the US market. This was picked up by other agents, and eventually everybody started speculating about it and added more flavor to this news item. The fact is that Kuwait Petroleum Corporation (KPC) …

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Saudi crown prince sees a deal with Kuwait to restart oil fields

Did our best to make up for Iran supplies: Prince Mohammed DUBAI, Oct 6, (RTRS): Saudi Crown Prince Mohammed bin Salman said the kingdom has met its promise to Washington to make up for Iranian crude oil supplies lost through US sanctions. “The request that America made to Saudi Arabia …

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Kuwait banking sector ‘tackles’ low oil prices

Dinar appreciates 1.4 pct against dollar in 2017: Al-Hashel KUWAIT CITY, Sept 24, (KUNA): Kuwaiti banking system succeeded in 2017 in confronting pressure caused by low oil prices period between 2014-16, Kuwait top banker said Monday, noting that Kuwaiti Dinar’s appreciation vis-avis the US Dollar increased by 1.4 percent in …

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KOC’s increase in natural gas, oil contributes to meeting needs

KPA plans to buy equipment, ships to clean pollution at ports KUWAIT CITY, Sept 19, (KUNA): Increasing free natural gas and light oil by Kuwait Oil Company (KOC) will help contribute to meeting the country’s pressing need of gas and reaching new global commercial markets, said Minister of Oil and …

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Kuwait expects agreement on mechanism to monitor supply

Oil markets should ‘remain stable’ until end of the year: Al-Rashidiv KUWAIT CITY, Aug 25, (RTRS): OPEC and other oil exporting producers are expected to agree on a mechanism to monitor their crude production before the end of the year, Kuwaiti Oil Minister Bakheet Al-Rashidi said. A committee set up …

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New terms to ‘govern’ Joint Saudi-Kuwait Khafji oil field

Sides reach initial agreement KUWAIT CITY, Aug 19: As Saudi Arabia and Kuwait are said to have reached an initial agreement over the potential resumption of production from Al-Khafji field, which is located in the neutral zone between the two countries, more detailed have emerged about the new agreement that …

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Oil sector to produce 1,500 mw of solar cells, says Al-Rasheedi

KUWAIT CITY, Aug 18: Oil Minister and Minister of Electricity and Water Bakheet Al- Rasheedi was recently quoted as saying the oil sector will produce 1,500 megawatts of solar cells before the end of this year, reports Al-Anba daily. In a press statement Al-Rasheedi said the Ministry of Electricity and …

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Oil companies show us your books

‘Be more transparent’ Some leading international consultancy houses are asking international oil companies to open their books and reveal future oil prices especially since the demand for oil will peak by 2036. They should reveal whether they are prepared to meet such a demand, and what their forecast prices range …

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Kuwaiti officials predict stagnant crude oil price until 2018 year end

OPEC may need extraordinary meeting over output changes: Iran KUWAIT CITY, Aug 8, (Agencies): The price of oil in the global market is highly expected to remain within the range of $70 to 75 per barrel until the end of the year, a Kuwaiti official said on Wednesday. Geopolitical factors …

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