Tuesday , December 12 2017

Tag Archives: oil

Kuwait set to import fuel oil in 2018: KNPC CEO

Imports needed after start-up of Clean Fuel Project DUBAI, April 3, (RTRS): Kuwait is set to import fuel oil to use mainly in power generation for about a year following the start-up of the Clean Fuel Project by 2018, the chief executive of state refiner Kuwait National Petroleum Co (KNPC) …

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Kuwait says willing to extend global oil cut deal beyond June – Al-Marzouq says market needs more time to rebalance

DOHA, March 13, (RTRS): Kuwait will support the extension of a global deal to cut oil supply beyond June, the country’s oil minister said on Monday as the market needs more time to rebalance. “Kuwait supports the extension of the deal beyond June … as it will speed up rebalancing …

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OPEC has cut 40 pct more in Feb than pledged in oil deal: Kuwait

Saudi energy minister keeping close eye on US producers KUWAIT CITY/HOUSTON, March 8, (Agencies): Kuwait Oil Minister Essam Al-Marzouq said on Wednesday that OPEC’s compliance with an oil output cut reached last year stood at 140 percent in February, while non-OPEC members compliance was 50-60 percent. The Organization of the …

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‘59 pc tax rate imposed on foreign oil firms’

KUWAIT CITY, March 7: The tax rate imposed on foreign oil companies that operate in the divided zone between Kuwait and Saudi Arabia and are subjected to the laws of Kuwait is 59 percent, reports Al-Shahed daily quoting informed sources. They said the tax rate is based on several factors …

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Oil is in good hands – Things looking positive

So far so good! There is no ambiguity concerning the fact that all oil producing countries including OPEC and non-OPEC members are working together to stick to their commitment to end the deterioration of oil prices. We are heading now to the end of the third month of the agreement …

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Is the ‘oil honeymoon’ going to last? – OPEC must find the ‘majic number’ to deter shale oil producers

Now that the oil prices are steadily and smoothly running at a good pace, with all oil-producing countries adhering to their word and commitment by 80 percent, and with the barrel price stabilizing at above $55 level for some time without any disturbances, we wonder for how long will this …

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Oil outlook: good news so far – Govts must find alternative incomes

The recent publication of BP on world energy demand of 2035-2040 is a promising one for conventional oil and its producers, that oil, gas and coal will continue to be the drivers of energy, representing 75 percent out of the 80 percent forecasted in 2015. However, this positive conclusion comes …

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US oil industry coming back cautiously – Sector pivots from brutal 2-year slump caused by crashing oil prices

NEW YORK, Jan 8, (AFP): The US oil industry is feeling guarded optimism going into 2017 as it pivots from a brutal two-year slump prompted by crashing crude prices. As the new year kicks off, industry insiders describe a tentative recovery, with some low-cost drilling basins starting to pick up …

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Testing time ahead for strong oil prices – Focus on output compliance

One question that is often asked since the issuance of OPEC’s decision last November in Vienna is whether the oil producing countries will honor their commitment to reduce oil production from beginning of this month. From now on, the clock will be ticking. Oil consumers will be observing and hoping …

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Oil hits 18-mth high as Kuwait cuts output – Libya raises production to 685K bpd

LONDON, Jan 3, (Agencies): Oil prices hit 18-month highs on Tuesday, the first trading day of 2017, buoyed by hopes that a deal between OPEC and other big oil exporters to cut production, which kicked in on Sunday, will drain a global supply glut. Benchmark Brent crude jumped more than …

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