Monday , September 24 2018

Tag Archives: oil

Oil price hike to record budget surplus in fiscal 2018/’19

State to increase production of non-associated gas up to 500 mln cubic feet per day KUWAIT CITY, June 20: Governmental and private investments support the average growth of non-hydrocarbons – about 3.5 to 4 percent from 2018 to 2021, reports Al-Shahed daily. Concurrent with the increasing prices of oil compared …

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Bahra oil field reserve shows very promising ‘black gold’ deposits

Development of field will raise oil production KUWAIT CITY, June 20: The surveys and technical studies conducted recently at the Bahra oil-field which extends until the ‘Sabah Al-Ahmad’ reserve, show very promising ‘black gold’ deposits, reports Al-Rai daily quoting reliable oil sources. The sources, without going into details about the …

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Reports predict mixed prospects for Kuwait, other oil-producing nations

‘Global oil demand to increase by 1.65mn barrels per day’ KUWAIT CITY, June 19: Local and international economic reports have predicted positive and risky prospects for oil producing countries such as Kuwait, pointing out that at the moment things are moving forward towards improving the oil prices, continuing economic reform …

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Trump ‘requested’ Saudi oil support before Iran decision

Riyadh shifted position after call: sources DUBAI/WASHINGTON/LONDON, June 7, (RTRS): A day before US President Donald Trump withdrew from the Iran nuclear deal, one of his senior officials phoned Saudi Arabia to ask the world’s largest oil exporter to help keep prices stable if the decision disrupted supply. Riyadh, Tehran’s …

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Distributing oil riches

Case of history failure The oil concessions given to the giant oil companies of major European colonial powers and America was based on the investments of millions of dollars and British pounds these companies made in the exploration of oil in the 1920s and 1930s before actually acquiring profitable returns. …

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‘Long-term strategy but one worth pursuing’ – In search of more gas, Gulf states turn to shale

By Kamel Al-Harami Independent Oil Analyst It is time to look for another technology or methodology to search and explore for more natural gas in our region, especially since Saudi Arabia, Kuwait and others in the region are surrounded by rich gas producing countries like Qatar, Iran and, to a …

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OPEC production reduction scheme a success: Al-Ghais

‘Oil surplus down by 20m barrels’ KUWAIT CITY, May 29: Kuwaiti Governor in the Organization of Petroleum Exporting Countries (OPEC) Haitham Al-Ghais said the recent official figures showed that the oil surplus decreased by 20 million barrels – lower than the decline rate in the last five years, affirming there …

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Is oil price hitting $100 an advantage?

I certainly hope not after it hit $80 last week. Now oil markets are talking about a higher level, claiming that $100 is not far away. This could happen if OPEC decides to play a passive role in doing things and keeping its production cut of 1.8 million barrels in …

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Asia oil thirst tab $1 trillion a year

Crude prices rise by 20% this year, to almost $80 per barrel SINGAPORE/MUMBAI/MANILA, May 17, (RTRS): Oil prices are poised to break through $80 per barrel and Asia’s demand is at a record, pushing the cost of the region’s thirst for crude to $1 trillion this year, about twice what …

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Bahrain announces discovery of shale oil – Reserve estimated at 80 bln barrels

MANAMA, April 4, (AFP): Bahrain on Wednesday announced its newly discovered shale oil reserve was estimated to contain more than 80 billion barrels, making the once-marginal oil producer potentially a major player in the market. The amount of recoverable oil — or oil that can be extracted — is still …

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