OIL AND GAS

September 25, 2018

United Energy Group said on Sept. 24 it would buy Kuwait Energy for up to $651 million as the Hong Kong-listed upstream oil and gas company aims to enter the Middle East and North Africa markets.

The deal will transform United Energy into a medium-sized international independent oil and gas company with a diversified portfolio"... Continue Reading

September 24, 2018

Algiers — Crude production in the Partitioned Neutral Zone shared by Saudi Arabia and Kuwait could restart as soon as January, eventually adding up to 400,000 b/d in supplies at full ramp-up, Kuwaiti oil minister Bakheet al-Rashidi said Sunday.

The two countries were working to resolve 'technical issues related to the"... Continue Reading

September 23, 2018

The price of Kuwaiti oil went up by $1.18 to reach $76.44 per barrel on September 19, compared with $75.26/barrel on the previous day, said a report.

According to the Kuwait News Agency (KUNA), oil prices in the international markets went up yesterday, as the Brent crude rose to $79.27 per barrel, likewise"... Continue Reading

September 20, 2018

The Kuwait National Petroleum Company (KNPC) has launched a tender for up to 1.5GW of solar.

The company is looking to develop five blocks of up to 300MW to form the Dabdaba Solar Park. Bidders will also be asked to take on a 25-year O&M contract.

The"... Continue Reading

September 18, 2018

US-based KBR, a global technology company, said that it is pursuing a new phase of joint development with ConocoPhillips LNG Licensing to provide low-cost and expedited mid-scale LNG solutions for the marketplace.

The companies will leverage their extensive expertise in LNG to jointly develop a standardized LNG train that will provide mid-scale LNG capacity for both greenfield and brownfield"... Continue Reading

September 18, 2018

The Kuwait Oil Company (KOC) has opened the door for the development and execution of a number of future projects for registered international specialized contractors according to the specific categories of civil and construction works, which is considered a long-awaited step to qualifying new companies, reports Al-Anba daily quoting official oil sources.

According"... Continue Reading

September 16, 2018

Global Power Generation (GPG), a joint venture between Spain's Naturgy Energy Group and the Kuwait Investment Authority (KIA), the country's sovereign fund, was awarded 180 MW wind farm project in Australia.

In a strategic move, KIA had bought"... Continue Reading

September 15, 2018

Global oil output hit a record of 100 million barrels per day in August, but the market may tighten and prices rise as exports from Iran and Venezuela decline, the International Energy Agency said yesterday. “We are entering a very crucial period for the oil market,” the IEA said in its latest monthly report. “Things are tightening up.”

The"... Continue Reading

September 11, 2018

Kuwait Oil Company (KOC) has launched a huge tender for the construction of a gas pipeline from the northern part of the country to Mina Ahmadi Refinery, reports Al-Anba daily. Informed sources said 12 international contractors have been qualified to participate in the project and submit their bids on or before Nov 6.

They disclosed"... Continue Reading

September 9, 2018

Kuwait is trying to tie up several troublesome loose ends with two Gulf neighbours while embarking on a new economic relationship with a traditional foe.

Kuwaiti Oil Minister Bakheet al-Rashidi said his government planned to sign an agreement this year with Baghdad on importing piped Iraqi natural gas and on operating joint border"... Continue Reading