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OIL AND GAS

Kuwait provides fuel to Iraq to overcome electricity crisis

July 22, 2018

Kuwait provides fuel to Iraq to overcome electricity crisis

Kuwait has decided to provide the Iraqi government with fuel to operate the suspended power plants in southern Iraq as protests continue across the country.

The Amir of Kuwait, Shaikh Sabah Al-Ahmed Al-Jaber Al-Sabah, directed the country’s Ministry of Oil to begin supplying the Iraqi Ministry of Electricity with gasoline"... Continue Reading

Kuwait's Super Light crude oil finds home in Japan and South Korea as Iran alternative

July 21, 2018

 Kuwait's Super Light crude oil finds home in Japan and South Korea as Iran alternative

Kuwait's newly launched Super Light crude oil is increasingly finding a home in Japan and South Korea as the grade has emerged as a possible alternative grade to Iranian condensate, market sources said Friday.

'With ample availability it is an interesting grade,' a source at a Northeastern Asian refiner said. 'In"... Continue Reading

KNPC issues circular to reshuffle two team leaders

July 19, 2018

KNPC issues circular to reshuffle two team leaders

Deputy Executive Chairman for Projects at Kuwait National Petroleum Company (KNPC) Eng Abdullah Fahad Al-Ajmi has issued an administrative circular to declare the transfer and reshuffl ing of two team leaders of the Projects Department. Meshal Sardi Al-Saeedi will take up the position of the Head of Projects Coordination Team (Group 7) and will be assigned the responsibility of the Dabdabah Project for Solar"... Continue Reading

Kuwait oil price up 74 cents to $71.79 pb

July 18, 2018

Kuwait oil price up 74 cents to $71.79 pb

The price of Kuwaiti oil went up 74 cents Monday to $71.79 per barrel (pb), after being at $71.05 pb Friday, said Kuwait Petroleum Corporation (KPC) on Tuesday.

On the global scale, the oil price fall Monday as Libyan ports reopened while traders eyed potential supply increases by Russia and other producers.

The"... Continue Reading

SNC-Lavalin Wins Five-year Contract from Saudi-Kuwait Firm

July 17, 2018

 SNC-Lavalin Wins Five-year Contract from Saudi-Kuwait Firm

Al Khafji Joint Operations (KJO), a joint operations company comprising Aramco Gulf Operations Co. Ltd. and Kuwait Gulf Oil Co., has awarded an additional five-year framework agreement with SNC-Lavalin Engineers and Constructors, Inc. to provide international general engineering services, SNC-Lavalin reported Monday.

“It’s"... Continue Reading

OPEC only choice; the limit is reached

July 16, 2018

OPEC only choice; the limit is reached

To bring the oil prices down to an acceptable “White House” level, which is less than $80 per barrel, the USA administration must ensure all oil-producing countries including OPEC member states continue to maintain the current input.

This is prov i d e d Venezuela, Libya, Angola and Nigeria are troublefree with no further"... Continue Reading

EQUATE recognized for developing top Middle East treasury solution

July 16, 2018

EQUATE recognized for developing top Middle East treasury solution

Integrated financial systems have earned EQUATE Petrochemicals Company, a global producer of petrochemicals, the award for “Best in Class Treasury Solution in the Middle East” at the Adam Smith Awards 2018 organized by Treasury yesterday.

Through the efforts of EQUATE’s treasury, the world’s second largest"... Continue Reading

Oil production in neutral zone to resume in December

July 16, 2018

Oil production in neutral zone to resume in December

Oil production in the neutral zone between Kuwait and Saudi Arabia will resume in December following a four-year suspension, well-informed oil sources said. Notably, Riyadh had suspended oil production in Khafji for environmental reasons. The suspension has cost Kuwait up to $10 billion in losses, according to the parliament’s budgets committee, which suggested that the oil in Khafji ‘migrated’"... Continue Reading

Kuwait's economy set to rebound on higher oil output and government spending

July 14, 2018

Kuwait's economy set to rebound on higher oil output and government spending

Kuwait's economy is set to recover this year, after shrinking in 2017, on the back of increased government spending and an expected rise in oil production in the coming months.

Gross domestic product (GDP) is expected to accelerate to 2.5 per cent this year after falling 2.9 per cent in 2017 as OPEC shifts its policy towards"... Continue Reading

Electricity consumption peaked July 9

July 12, 2018

Electricity consumption peaked July 9

Undersecretary of Ministry of Electricity and Water Eng Mohammad Boushahri revealed that consumption of electricity on Monday, July 9 was 13,790kw, and the temperature that day was 49 degree Centigrade. In a press release issued by Eng. Boushahri on the sideline of his meeting with the Union of Consumer Cooperative Societies which was aimed at finding solutions for the obstacles facing cooperative societies,"... Continue Reading

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