Thursday , January 18 2018

Tag Archives: oil

Deeper the oil cuts, better news for shale producers – ‘keep prices at acceptable level’

There is no escape from this harsh reality —  lesser oils entering the markets will mean better news for USA shale producers and further strengthening of the oil barrels. Of course, higher cuts in crude oils will lead to oil prices stabilizing at $50 a barrel – the best performance …

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Need to cut dependence on oil – Kuwait’s govt sole source of income … is it sustainable?

For how long will Kuwait depend on oil as its only source of income? Is it sustainable on a long term basis, especially since we know well that oil prices are unlikely to go beyond $70 per barrel in the coming years? This is not only because of the arrival …

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Oil is safe at $50 per barrel – Price not sustainable for coming 2-3 yrs

Oil producing countries should be satisfied with the current oil price range of $50-$52 for the rest of the year. With shale oil production sailing smoothly and growing at a nice pace, USA oil production should reach more than 1.6 million barrels next year. So far everybody is satisfied with …

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MP queries oil spill – Speaker hails micro-licencing

KUWAIT CITY, Aug 17: MP Khalid Al-Otaibi has submitted questions to Minister of Oil, Electricity and Water Issam Al- Marzouq about the oil spills and sources of leakage. He said that on Aug 11, 2017; the Environment Public Authority (EPA) received a report from the Coast Guard General Department stating …

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Oil spots around Al-Zour power plants controlled, says official

KUWAIT CITY, Aug 14, (Agencies): Workers at the Ministry of Electricity and Water, in collaboration with oil companies, have controlled all oil spots surrounding the southern and northern Al-Zour power plants, said an official at the ministry, on Monday. Haitham Al-Ali, the ministry’s chief power engineer, made the statement to …

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Gulf oil spill clean by end week – Teams still at work

KUWAIT CITY, Aug 13, (Agencies): Emergency workers have managed to clean up “the major part” of an oil spill near the joint Kuwaiti-Saudi Al-Khafji oilfield in the Gulf, an official said on Sunday. “The major portion of the main oil spill has been removed,” Kuwait Petroleum Corporation (KPC) spokesman Sheikh …

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BP sees oil prices below $55 in 2018 – Global demand to grow by 1.4-1.5 mln bpd

LONDON, Aug 1, (Agencies): BP expects global oil prices to hold within a range of $45-$55 a barrel next year as US shale production grows, the British company’s chief financial officer said on Tuesday. After a slow start to the year, global oil demand recovered in the second quarter of …

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KPC marketing on a new dangerous path – ‘Our oil should not be traded or gambled with’

The statement issued last week by Kuwait Petroleum Corporation (KPC) concerning establishment of a new marketing and trading company is the first step towards dealing directly with traders and becoming involved in open trading with the only source of our daily income. It is a complete deviation from our established …

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Kuwaiti oil minister says further oil production cuts are possible – Energy markets need regulator in face of speculators: Eni CEO

ST PETERSBURG, Russia, July 23, (RTRS): Kuwait’s Oil Minister Essam Al-Marzouq said on Saturday that compliance with oil production cuts by OPEC and non-OPEC countries is good and that deeper cuts are possible. Asked about the possibility of further cuts to support the price of crude, the minister said: “Everything …

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