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Category: Kuwait

Category:
  • Kuwait

Kuwait produces more than 2.8 million barrels per day of oil, KPC CEO says

 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 Continue Reading

Posted On : 19 Sep 2022 Published By : Tom Whipple
Category:
  • Kuwait

Kuwait nears maximum oil production, with politics, technical challenges stunting growth

Highlights Main producing field, Greater Burgan, is aging Kuwait has been averse to foreign investment But $1 billion loan deal with Japan could help Kuwait is close to exhausting its Continue Reading

Posted On : 3 Aug 2022 Published By : Tom Whipple
Category:
  • Kuwait
  • Saudi Arabia

Saudi Arabia, Kuwait discuss boosting Neutral Zone oil production

Saudi Arabian and Kuwaiti officials for the Neutral Zone — the oil-producing area that straddles the border between the two countries — met on July 3 to discuss ways to Continue Reading

Posted On : 5 Jul 2022 Published By : Tom Whipple
Category:
  • Iraq
  • Kuwait

Kuwait, Iraq target new hydrogen and solar projects

Highlights Kuwait considering blue and green hydrogen pilot Iraq to provide sovereign guarantee for solar projects Baghdad working on long-term technical contract with Acwa Power Iraq and Kuwait are planning Continue Reading

Posted On : 21 Feb 2022 Published By : Tom Whipple
Category:
  • Kuwait

One of the World’s Wealthiest Oil Exporters Is Becoming Unlivable

Trying to catch a bus at the Maliya station in Kuwait City can be unbearable in the summer. About two-thirds of the city’s buses pass through the hub, and schedules Continue Reading

Posted On : 17 Jan 2022 Published By : Tom Whipple
Category:
  • Kuwait

Kuwait says drilling, facilities work underway to reverse declining oil production capacity

Kuwait will be able to unlock some 500,000 b/d of potential output capacity in the next two years, the head of its state oil company said Oct. 22, seeking to Continue Reading

Posted On : 23 Oct 2021 Published By : Tom Whipple
Category:
  • Kuwait

Kuwait’s Oil Production Plans Are Beyond Ambitious

Kuwait’s plans announced last week to invest at least US$6.1 billion in exploration over the next five years in order to increase production to a minimum of 4 million barrels Continue Reading

Posted On : 21 Sep 2021 Published By : Tom Whipple
Category:
  • Kuwait

Kuwait’s oil output to fall in 2021, breakeven at +$90/b: S&P Global Ratings

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

Posted On : 19 Jul 2021 Published By : Tom Whipple
Category:
  • Kuwait

Kuwait Credit Rating Cut for Second Time in Two Years by S&P

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

Posted On : 17 Jul 2021 Published By : Tom Whipple
Category:
  • Kuwait

Kuwait Looks At Huge Wealth Fund To Move Beyond Oil

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

Posted On : 15 Jul 2021 Published By : Tom Whipple
Category:
  • Kuwait

Kuwait increases spending in new budget, with breakeven crude price of $90/b

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

Posted On : 26 Jan 2021 Published By : Tom Whipple
Category:
  • Kuwait

Kuwait names new oil and finance ministers as government faces liquidity crunch

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

Posted On : 14 Dec 2020 Published By : Tom Whipple
Category:
  • Kuwait

LNG Terminal to Nearly Double Middle East Import Capacity

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

Posted On : 16 Sep 2020 Published By : Tom Whipple
Category:
  • Kuwait

Kuwait Looks To Ease Dependence On Saudi Arabia With New Oil Development

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

Posted On : 2 Sep 2020 Published By : Tom Whipple
Category:
  • Kuwait

Kuwait Is Running Out Of Money To Pay Public Salaries

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

Posted On : 21 Aug 2020 Published By : Tom Whipple
Category:
  • Kuwait
  • Saudi Arabia

Chevron’s Saudi-Kuwait Venture Plans Restart Exports in July

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

Posted On : 23 Jun 2020 Published By : Tom Whipple
Category:
  • Kuwait
  • Saudi Arabia

Kuwait, Saudi Arabia to shut shared Al-Khafji field just months after restart

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

Posted On : 18 May 2020 Published By : Tom Whipple
Category:
  • Kuwait

OPEC’s No.3 Already Started Cutting Oil Supply

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

Posted On : 24 Apr 2020 Published By : Tom Whipple
Category:
  • Kuwait

OPEC’s No.3 Scrambles For Lifeline As Oil Income Tanks

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

Posted On : 20 Apr 2020 Published By : Tom Whipple
Category:
  • Kuwait

Kuwait set to pump 3.15 million b/d in April as Neutral Zone exports take off

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

Posted On : 4 Apr 2020 Published By : Tom Whipple
Category:
  • Kuwait
  • Saudi Arabia

First crude oil cargo set to be exported from Saudi-Kuwaiti Neutral Zone

 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

Posted On : 3 Apr 2020 Published By : Tom Whipple
Category:
  • Kuwait

Kuwait Excludes Oil Tankers From Ship Ban Over Coronavirus

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

Posted On : 27 Feb 2020 Published By : Tom Whipple
Category:
  • Kuwait
  • Saudi Arabia

Restarted Saudi, Kuwaiti Oilfields To Pump 550,000 Bpd By End-2020

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

Posted On : 18 Feb 2020 Published By : Tom Whipple
Category:
  • Kuwait
  • Saudi Arabia

Kuwait minister says neutral zone output to reach 550,000 b/d by year-end

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

Posted On : 17 Feb 2020 Published By : Tom Whipple
Category:
  • Kuwait
  • Saudi Arabia

Saudi Arabia And Kuwait Are Finally Ready To Restart Their 500,000 Bpd Oilfields

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

Posted On : 14 Feb 2020 Published By : Tom Whipple
Category:
  • Kuwait
  • Russia

Chevron readies to resume pumping oil from Saudi-Kuwaiti Neutral Zone’s Wafra field

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

Posted On : 14 Feb 2020 Published By : Tom Whipple
Category:
  • Kuwait

Kuwait Expects To Pump 250,000 Bpd When Neutral Zone Restarts

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

Posted On : 10 Jan 2020 Published By : Tom Whipple
Category:
  • Kuwait
  • Saudi Arabia

Oil Markets Brace For Another 500,000 Bpd Oil Field To Come Online

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

Posted On : 24 Dec 2019 Published By : Tom Whipple
Category:
  • Kuwait
  • Saudi Arabia

Saudis, Kuwait Near End to Spat Over Shared Oil Fields

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

Posted On : 23 Dec 2019 Published By : Tom Whipple
Category:
  • Abu Dhabi
  • Kuwait
  • Saudi Arabia

Abu Dhabi, Kuwait sovereign funds plan investment in Aramco IPO: sources

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

Posted On : 27 Nov 2019 Published By : Tom Whipple
Category:
  • China
  • Kuwait

Kuwait Strikes Mega Supply Deal With China’s Largest Refiner

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

Posted On : 21 Nov 2019 Published By : Tom Whipple
Category:
  • Kuwait

The First OPEC Member To Cut Oil Targets Over Climate Concerns

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

Posted On : 6 Nov 2019 Published By : Tom Whipple
Category:
  • Kuwait
  • Saudi Arabia

The Middle East Oil Alliance Of The Year

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

Posted On : 22 Oct 2019 Published By : Tom Whipple
Category:
  • Kuwait

Kuwait Could Add 400,000 Bpd Heavy Oil Output By January 2020

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

Posted On : 18 Apr 2019 Published By : Tom Whipple
Category:
  • Kuwait
  • Prices

Kuwait oil minister: Oil prices are good for producers, consumers – Al Rai

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

Posted On : 11 Mar 2019 Published By : Tom Whipple
Category:
  • Kuwait
  • Oil Supply

Kuwait sees risk of oil supply shortage in 2019 due to Venezuela

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

Posted On : 5 Feb 2019 Published By : Tom Whipple
Category:
  • Iraq
  • Kuwait

Kuwait, Iraq hire consultant to assess oil production potential in border areas

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

Posted On : 24 Dec 2018 Published By : Tom Whipple
Category:
  • Kuwait

Kuwaiti port operations partially suspended on floods: shipping sources

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

Posted On : 15 Nov 2018 Published By : Tom Whipple
Category:
  • Kuwait
  • Saudi Arabia

Saudis, Kuwait Fail To Agree On 500,000-Bpd Joint Oil Fields Restart

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

Posted On : 18 Oct 2018 Published By : Tom Whipple
Category:
  • Kuwait
  • USA

Kuwait Stops Exporting Crude To U.S.

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

Posted On : 3 Oct 2018 Published By : Tom Whipple
Category:
  • Iraq
  • Kuwait
  • Saudi Arabia

Kuwait Looks To Settle Oil Field Disputes With Saudis, Iraq Soon

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

Posted On : 23 Aug 2018 Published By : Tom Whipple
Category:
  • Kuwait
  • Saudi Arabia

Saudi Arabia, Kuwait Halt Oil Production In Neutral Zone

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

Posted On : 27 Jun 2018 Published By : Tom Whipple
Category:
  • Kuwait

Kuwait exposed to risk from volatile oil prices

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

Posted On : 8 Jun 2018 Published By : Tom Whipple
Category:
  • Kuwait

Kuwait Plans Massive Oil Tanker Expansion

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

Posted On : 24 Apr 2018 Published By : Tom Whipple
Category:
  • Kuwait
  • OPEC

Kuwait’s oil minister says premature to talk about exit strategy from supply cuts

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

Posted On : 14 Dec 2017 Published By : Tom Whipple
Category:
  • Kuwait
  • OPEC

Kuwaiti Oil Minister: OPEC Cuts May End Earlier Than Planned

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

Posted On : 12 Dec 2017 Published By : Tom Whipple
Category:
  • Iraq
  • Kuwait

Iraq Wants To Build Gas Pipeline To Kuwait In Blow To Shell

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

Posted On : 23 Nov 2017 Published By : Tom Whipple
Category:
  • Kuwait

Kuwait Greenlights Game-Changing Gas Fields Project After Years of Delay

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

Posted On : 27 Sep 2017 Published By : Tom Whipple
Category:
  • China
  • Kuwait

Kuwait says oil shipments to China stable

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

Posted On : 26 Aug 2017 Published By : Tom Whipple
Category:
  • Iraq
  • Kuwait

Kuwait To Curb Oil Exports To US—Will Iraq Step In?

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

Posted On : 27 Jul 2017 Published By : Tom Whipple

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