News On Oil
KOC Signs Two Contracts To Treat Oil-contaminated Soil In Kuwait The Kuwait Oil Company (KOC) on Wednesday signed two new deals to treat the soil polluted by crude oil during the Iraqi occupation in the northern and southern areas of the country. These are the l... July 29, 2021 670 Category: Kuwait
OPEC+ Agrees To Increase Oil Output OPEC+ group agreed on a production increase of 400,000 barrels monthly, starting next August, while it also agreed on extending the current production-cut agreement, which ends next April, to December... July 19, 2021 196 Category: Kuwait
‘Higher’ Oil Price Is Not The Solution For Kuwait THERE is no doubt that an oil price of $75 per barrel will reduce our budget deficit but not much. We will still end up being about KD 10 billion short from the current budget. This is because the hig... June 27, 2021 314 Category: Business
Kuwait Discovers Nine Oil Wells, 8 Large Oil Reservoirs In 3 Years Since 2018 Kuwait has discovered nine oil wells and 8 large oil reservoirs and that two wells were already transferred to the Asset Management sector in March 2021, reports Al-Anba daily quoting highr... June 23, 2021 525 Category: Kuwait
Kuwait Sold Oil Worth KD 11 Billion In 2020 Kuwait sold oil worth KD 10.9 billion during 2020, and this significant improvement in the value of oil exports comes after the gradual rise in Kuwaiti crude oil prices after a sharp collapse in the s... June 16, 2021 187 Category: Kuwait
Oil Demand To Exceed ‘pre-virus’ Levels – IEA OUT of the blue, the International Energy Agency (IEA) has started asking oil producing countries to pump more oil and continue investing in new oil fields. For the time being, it is not asking to swi... June 13, 2021 206 Category: Business
Oil Prices On The Rise As Supply Improves Slowly THE oil picture today is one of the best, with the best maestro managing every move and fine tuning along with the well experience players. They together moved the oil price to close to $71 per barrel... June 06, 2021 236 Category: Business
Oil Companies In Need Of New Facelift In a single day last week, three major international oil companies faced one court case and two boardroom battles, all of which are in pursuit for a better environment and a greener future. Oil compan... May 30, 2021 1569 Category: Business
‘Comprehensive Salary’ To Reduce Dependency On Oil Revenues Vital Oil revenues constitute the lion’s share of Gulf government’s revenues, which allows them to maintain a low level of taxes. However, the large dependence of the citizens of Gulf countries ... April 06, 2021 534 Category: Kuwait
OPEC+ Agrees To Pour More Oil Into Market AT the OPEC meeting on Thursday, the Saudi oil minister warned about the “rough sea” and that it is still a bit early to increase OPEC-Plus oil production. During the same meeting, the Rus... April 04, 2021 327 Category: Business
Kuwait Supports OPEC+ Measures To Curb Oil Output Kuwait reiterated its full support of OPEC+ efforts measures to ensure global oil supply and demand balance through its commitment to reduce output levels, as agreed, the oil minister said on Thursday... March 31, 2021 274 Category: Kuwait
Kuwait Petroleum Corporation To Borrow Up To $20bn Why not privatize part of its assets? FOR how long can Kuwait Petroleum Corporation go on a borrowing spree? It knows well that the oil industry will neither recover from the price slump nor recove... March 27, 2021 284 Category: Kuwait
$75/bbl Is Bare Minimum To Pay Salaries In Kuwait IN ORDER to meet our government’s annual salary of KD 16 billion, the oil price should reach $70 on a daily basis for a full year. Any figure below this will cause scratching of the head to find... March 21, 2021 461 Category: Kuwait
The Price Of A Barrel Of Kuwaiti Oil Rose 98 Cents, To 47.76 $ The price of a barrel of Kuwaiti oil rose 98 cents to reach 47.76 dollars in yesterday’s trading, compared to 46.78 dollars in yesterday’s trading, according to the price announced by the ... December 05, 2020 217 Category: Economics
Vaccine Not The Solution … Replacement Of Crude Oil Is THE announcement made last week about the discovery of a vaccine for treating COVID-19 was met with jubilation and the escalation of oil prices. There is also a jump in the oil stock share prices o... November 14, 2020 521 Category: Economics
196 Oil Sector Expat Employees Stranded Outside Kuwait  The number of expatriate workers in the oil sector who are currently outside Kuwait is about 196. They were prevented from returning to the country due to the COVID-19 outbreak and closure of th... November 07, 2020 306 Category: Expats
99% Of Kuwaitization Is In Petroleum Arabic local newspaper Alanba reported that Minister of Oil and Acting Minister of Electricity and Water Dr. Khaled Al-Fadhel revealed that the percentage of Kuwaiti employees in the Ku... November 07, 2020 594 Category: Kuwait
Kuwait Oil: 50% Of The Workforce Will Return On Wednesday The Kuwait Oil Company confirmed that 50% of the company's workforce will start attending the company as of Wednesday, in an internal memo sent by the company to the executive vice presidents, gro... November 02, 2020 921 Category: Information
Oil Ministry 1st To Implement E-face Print System To Record Attendance The Undersecretary of the Ministry of Oil, Sheikh Dr Nimer Al-Sabah, said the Ministry of Oil is the first ministry in Kuwait to implement an electronic face print system to record the daily attendanc... November 01, 2020 325 Category: Information
OPEC Expects India’s Oil Demand To Rise By 5.8 Million Barrels Per Day By 2040 OPEC Secretary-General Mohammad Barkindo has said Indiaآ‘s enthusiasm and encouragement for producer-consumer dialogue has contributed enormously to helping to restore stability to global oil m... October 28, 2020 268 Category: India