Sovereign rating downgraded to A+ Kuwait’s economy will likely grow 0.5% in 2021 Oil makes up 90% of government revenue Kuwait’s oil sector is expected to contract in 2021 due Continue Reading
Kuwait was downgraded by S&P Global Ratings for a second time in less than two years after a fall in oil revenue and increased spending pressured the Persian Gulf nation’s Continue Reading
Kuwait’s life-after-oil fund may have become one of the world’s biggest sovereign wealth funds thanks to the country’s healthy oil industry, as it continues to prepare for a life after Continue Reading
Kuwait on Jan. 25 unveiled a budget for its coming fiscal year with a breakeven crude price of $90/b and significant deficit spending, with higher expenditures eating up a significant Continue Reading
Kuwait’s emir on Monday approved a new cabinet that included new ministers of oil and finance for the OPEC member state which is mired in its worst economic crisis in Continue Reading
Kuwait aims to open what will be the Middle East’s largest import terminal for liquefied natural gas in March, according to two people familiar with the project. The Al-Zour plant Continue Reading
Kuwait had already slipped into an economic contraction of 1.1 per cent the fourth quarter of 2019, over the same period in the previous year, before Saudi Arabia decided to Continue Reading
Kuwait is running out of money for the salaries of public servants and will have no money to cover these after November, the country’s finance minister told parliament. Unless oil Continue Reading
The coronavirus pandemic has stalled factories and shut down business around the world, causing a historic drop in oil demand just as production was reaching new highs. WSJ explains the Continue Reading
Kuwait and Saudi Arabia agreed to stop production from the Al-Khafji crude oil field – part of their shared Neutral Zone – as of June 1, according to a source Continue Reading
Although the new OPEC+ agreement goes into effect on May 1, OPEC’s fourth-largest producer, Kuwait, has already started to reduce crude oil supply to international markets “sensing a responsibility responding Continue Reading
Even before the current spate of Saudi-led lunacy in the shape of the oil price war with the two biggest oil producers in the world loomed into view, Kuwait’s 2020/21 Continue Reading
Highlights Rise of almost 500,000 b/d in two months Mar output was close to 2.9 mil b/d says KPC chairman Exports from the offshore Al-Khafji field begin London — OPEC Continue Reading
The first crude export in more than five years from the Neutral Zone shared by Kuwait and with Saudi Arabia is set to take place this week, a shipping source Continue Reading
OPEC producer Kuwait has excluded oil tankers from a ban on ships departing or arriving from several countries in a bid to reduce the risk of coronavirus spreading, Reuters reported Continue Reading
The total production from the two oilfields that Saudi Arabia and Kuwait share would reach 550,000 bpd by the end of the year, Kuwait’s Oil Minister Khaled al-Fadhel said on Continue Reading
Crude oil production from the neutral zone where Saudi Arabia and Kuwait share output equally will reach 550,000 b/d by the end of the year after a pumping trial from Continue Reading
Saudi Arabia and Kuwait, which share two oilfields that have not been pumping oil for five years, have authorized the restart of one of those oilfields as early as Sunday, Continue Reading
Crude oil from the Wafra field in the Neutral Zone shared by Saudi Arabia and Kuwait could flow again as soon as this weekend after a nearly five-year hiatus, with Continue Reading
Kuwait expects its share of the oil production from the Neutral Zone that it shares with Saudi Arabia to be 250,000 bpd by the end of 2020 when production will Continue Reading
Kuwait and Saudi Arabia could be days from agreeing the restart of oil production from the two fields they share in the so-called neutral zone. Bloomberg quoted Kuwait’s Oil Minister, Continue Reading
The deal could still fall through at the last minute and the two countries, which reached a preliminary agreement in October, are unlikely to restart production immediately, the people familiar Continue Reading
The sovereign wealth funds of Abu Dhabi and Kuwait plan to invest in the initial public offering (IPO) of Saudi Aramco, which is relying mainly on Saudi and Gulf investors Continue Reading
China’s Sinopec, the country’s largest refiner, is building a 200,000-bpd refinery in southern China, which will use Kuwaiti crude as feedstock, unnamed sources told Reuters. The refining and petrochemical complex Continue Reading
OPEC’s fourth-largest producer currently, Kuwait, may revise down its long-term oil capacity production targets due to concerns that environmental risks will limit oil demand growth, in what would be a Continue Reading
Kuwait and Saudi Arabia are still negotiating the restart of oil production at jointly owned fields in the so-called Neutral Zone between the two countries, Kuwaiti Deputy Foreign Minister Khaled Continue Reading
Kuwait will start this year the first phase of a heavy oil field production, aiming to boost heavy crude output to 430,000 bpd from 60,000 bpd by January, the official Continue Reading
Kuwait’s Oil Minister Khalid al-Fadhil said current oil prices are good for producers and consumers, Kuwaiti newspaper Al-Rai reported on Sunday. Al Rai cited al-Fadhil saying “current oil prices are Continue Reading
The head of state-run Kuwait Petroleum Corp, Hashem Hashem, said on Tuesday that global oil supply could be hit this year by big reductions in exports from Venezuela. The Trump Continue Reading
Kuwait and Iraq have chosen a consultant to assess areas with oil reserves on the border between the two countries and production policy will be decided based on the study, Continue Reading
Loading operations at some of the berths at Kuwaiti ports had been suspended owing to rains and severe flooding, shipping sources said Thursday. Receive daily email alerts, subscriber notes & Continue Reading
Due to operational divergences and geopolitical divisions, Saudi Arabia and Kuwait haven’t made any progress in talks about the potential restart of jointly operated oil fields that analysts were hoping Continue Reading
Kuwait has not sent any crude oil to the United States for at least four weeks, EIA’s weekly petroleum reports for the last four weeks, which also include a weekly Continue Reading
Kuwait expects to soon sign deals on the development of the oil fields that it shares with its neighbors Saudi Arabia and Iraq, official Kuwait News Agency (KUNA) quoted Oil Continue Reading
Oil production the neutral zone between Saudi Arabia and Kuwait has stopped until the parties reach an agreement, Kuwaiti state news agency KUNA reported on Tuesday, citing Kuwait’s Oil Minister Continue Reading
Kuwait faces credit risks because national policies are behind the curve when it comes to supporting non-hydrocarbon growth, Moody’s Investors Service found. Early this year, Fitch Ratings found Kuwait’s credit Continue Reading
Despite the ongoing oil production cuts across OPEC, Kuwait has announced plans to expand its oil and oil product tanker fleet twofold over the next 20 years to 60 vessels, Continue Reading
Kuwait’s oil minister said on Thursday it was too early to talk about a strategy to exit the current OPEC and non-OPEC supply cutting pact. “It’s premature to talk about Continue Reading
To keep the air of mystery, or whatever remains of it after the November 30 Vienna Club meeting, Kuwait’s Oil Minister Issam al Marzouq yesterday said the cuts may end Continue Reading
In a bid to reduce gas flaring and pay off outstanding reparations for the 1990 invasion of Kuwait, Iraq has hired Japanese firm Toyo Engineering to help it build a Continue Reading
Kuwait is green-lighting the development of non-associated gas fields after seven years of delays, according to a new report by S&P Global Platts, in a move that would more than Continue Reading
Kuwait says that even though China is importing more oil, its exports to the world’s second-largest economy were stable. File Photo by tcly/Shutterstock Aug. 25 (UPI) — Though overall Chinese Continue Reading
In the latest round of OPEC promises, Kuwait’s state run oil company has pledged to cut “contractual sales volumes of oil for 2017” according to Bloomberg Markets . Kuwait Petroleum Continue Reading
A multilateral effort to ease global oil supply-side strains on the market hasn’t worked as designed, a Kuwaiti official said Thursday. Photo by Oskari Porkka/Shutterstock June 22 (UPI) — The Continue Reading
Leading Gulf oil producers Saudi Arabia and Kuwait gave the clearest signal yet that OPEC plans to extend into the second half of the year a deal with non-OPEC producers Continue Reading
Some of OPEC’s biggest oil producers, including Saudi Arabia, are now targeting $60 a barrel as the level where they want to push crude prices, OPEC officials said, signaling they Continue Reading
Kuwait wants OPEC to extend output cuts beyond June, becoming the producer group’s first member to call for more time to balance the global oil market as the rally that Continue Reading
Kuwait Energy Plc is planning an initial public offering in London that could value the oil and gas exploration business at as much as $1 billion, according to people familiar Continue Reading
Kuwait is sticking with plans to add half a million barrels a day of oil-production capacity as it prepares for the eventual expiration of the output quotas OPEC adopted to Continue Reading
Oil producers from Saudi Arabia to the United Arab Emirates are complying with production cuts promised last year to stabilize the market, Kuwait’s governor to the Organization of Petroleum Exporting Continue Reading
