Tag Archives: Kuwait

Kuwait prepares to invite international oil companies to help it develop recently discovered offshore oil and gas fields, Kuwait’s Prime Minister, Sheikh Ahmad Abdullah Al-Ahmad Al-Sabah, said on Tuesday. Kuwait Petroleum Corporation (KPC) will turn to foreign majors for collaboration and assistance for Kuwait Oil Company to develop the offshore …

Kuwait exported record volumes of very low sulfur fuel oil (VLSFO) in January after a key refinery restarted full operations following a fire-induced partial outage at the end of last year. One of the Gulf’s top crude oil exporters, which also vies to be a major fuel oil exporter, was …

Over the past decade, the Gulf Cooperation Council (GCC), comprising Saudi Arabia, Qatar, the UAE, Bahrain, Kuwait, and Oman, has advanced bold strategies to reshape its economies by reducing reliance on oil while developing new sectors like renewable energy, tourism, financial services, and digital innovation. Charting a course toward long-term …

Worries over the health of the global economy amid escalating trade protectionism together with an accelerated unwind of OPEC+ output cuts pushed Brent crude to a four-year low of $60/bbl in early May – though prices have risen off their lows. Responding to the weaker economic outlook, the IEA downgraded …

Saudi Arabia and Kuwait have announced a new oil discovery in the so-called Partitioned Zone (PZ) between the two OPEC heavyweights which share equally output from the area. Saudi Arabia and Kuwait announced on Monday that Wafra Joint Operations had made a new oil discovery in the North Wafra Wara-Burgan …

Kuwait has approved a financing and liquidity law that will allow one of OPEC’s top producers to return to the debt market after eight years, with borrowing expected to fund projects to diversify its dependence on oil revenues. While the other OPEC Gulf heavyweights, Saudi Arabia and the United Arab …

Kuwait Foreign Petroleum Exploration Company (KUFPEC) plans to bid for more oil and gas blocks offshore Indonesia and explore for hydrocarbons in the Natuna Sea, the top executive of Kuwait’s state oil firm told Reuters on Monday. KUFPEC is an international upstream company, engaged in exploration, development and production of …

Global oil demand looks robust in a balanced market this year, Shaikh Nawaf Al-Sabah, chief executive of Kuwait’s state oil firm Kuwait Petroleum Corporation (KPC), told Bloomberg in an interview published on Thursday. “From my perspective I think it remains a healthy market on the demand side,” the executive said, …

Iran is ready to continue bilateral talks with Kuwait over the Arash (Durra) offshore gas field, according to Foreign Ministry Spokesman Nasser Kanani. “Iran has repeatedly declared, that the Islamic Republic is ready to continue bilateral negotiations with Kuwait in line with the results of the previous talks over exploiting …

Iran’s oil minister, Mohammad Javad Owji reaffirmed Tehran’s commitment to its share in the Arash gas field in the Persian Gulf, vowing not to exceed the agreed-upon production levels. Owji expressed optimism regarding the resolution of issues concerning the Arash field through ongoing negotiations with Kuwait. He assured that Iran …