Tag Archives: Kuwait

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 …

Kuwait’s new Cabinet has resigned amid protests over a planned spending spree of the country’s oil wealth by the Assembly, which some fear would drain state coffers to the point of no return. The Cabinet’s move to resign is meant to hinder the Assembly’s attempts to push through spending bills …

Kuwait’s state energy company said customers are reluctant to increase oil imports next year, signaling that the market’s being suppressed by global economic weakness. “We’re really nervous about where demand is going over the next few months and the next year, especially if there is a recession,” Sheikh Nawaf Al-Sabah, …

Kuwait Petroleum Corporation’s (KPC) chief executive said on Sunday the Gulf state currently produces more than 2.8 million barrels per day of oil in accordance with its OPEC quota. Sheikh Nawaf Saud al-Sabah also said Kuwait has plans to increase crude oil production whenever the market needs it, but currently …

An expert on energy said that all the three countries of Kuwait, Saudi Arabia and Iran can exploit the Arash joint gas field but due to the possible problems, they must trilaterally determine the borders. As regards Saudi Arabia and Kuwait’s joint program on the Arash joint gas field, Ali …

Japan’s 3 biggest banks are teaming up with major U.S. and European lenders to loan $1 billion to help Kuwait increase oil output, seeking to calm energy markets roiled by Russia’s invasion of Ukraine, Nikkei Asia has reported. Mizuho Bank, Sumitomo Mitsui Banking Corp. and MUFG Bank are making the …

Iran’s Petroleum Ministry has undertaken necessary studies on developing and drilling in Arash joint gas field with Saudi Arabia and Kuwait, an Iranian official announced. The Iranian Ministry has also prepared the ground for development of Arash or Durra gas field, Ahmad Assadzadeh, deputy petroleum minister for international and commercial …