Tag Archives: oil

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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Red Sea strait ‘unrest’ barely to affect crude prices: expert

Top consumers calling on OPEC to boost output KUWAIT CITY, July 30, (KUNA): In the wake of Saudi Arabia’s decision to suspend oil shipments through the Red Sea’s strategic Bab-el-Mandeb strait, the repercussions of the move on oil prices remain subtle, according to an analyst. Countries bearing the brunt of …

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MPs say oil sector disregarding promises, giving vague answers

PM urged to pressure ministers to address sports sector KUWAIT CITY, July 29: A number of MPs turned their gaze towards the Ministry of Oil after finding out that parliamentary recommendations and promises are being disregarded while queries are being returned with superficial answers, according to parliamentary sources. Such is …

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Kuwait to halt Bab oil exports

KUWAIT CITY, July 26, (Agencies): Kuwait is studying whether to halt oil exports through Bab al-Mandeb strait, an oil official said, after Saudi Arabia said it was suspending all crude shipments through the Red Sea lane following an attack on two of its tankers. “All options are possible but there …

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Impact on Kuwait oil exports limited

SAUDIS HALT OIL EXPORTS IN RED SEA LANE AFTER ATTACKS KUWAIT CITY/DUBAI, July 26, (Agencies): A recent attack by the Yemen’s Iranaligned Houthi movement on a Saudi oil tanker in the Bab Al Mandeb strait has had only a limited impact on Kuwait exports, the state news agency KUNA reported …

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Current price of oil reflects level of demand and supply in market

OPEC plays vital role in controlling prices KUWAIT CITY, July 23: Oil expert Muhammad Al-Shatti is of the view that the current price of oil reflects the level of demand and supply in the market, coupled with recovery of Libyan oil production and announcement by OPEC members and other oil …

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Kuwait’s sovereign fund UK unit said to buy oil, gas pipeline firm

Bid beats JP Morgan, Blackstone LONDON, July 23, (RTRS): The British infrastructure arm of Kuwait’s sovereign wealth fund has agreed to buy oil and gas pipeline firm North Sea Midstream Partners (NSMP) for around £1.3 billion ($1.7 billion) from ArcLight Capital, according to two sources. Wren House, the London-based infrastructure …

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