Kuwait

  • Kuwait Makes Three New Oil Discoveries

    Kuwait Makes Three New Oil Discoveries

    Tuesday, 5th January 2021

    The Kuwaiti Minister of Oil, Electricity and Water, Mohammed Al-Faris announced the discovery of three new oil fields in different regions of the country for Kuwait Oil Company (KOC).

  • Six Arab Countries Reassert Compliance to OPEC+ Deal

    Six Arab Countries Reassert Compliance to OPEC+ Deal

    Sunday, 9th August 2020

    The oil Ministers of Saudi Arabia, UAE, Kuwait, Oman, Iraq, and Bahrain reconfirmed their full support for OPEC+ agreement of cutting oil production in order to further speed up rebalance of oil markets.

  • Production Restarts at Wafra Oilfield

    Production Restarts at Wafra Oilfield

    Monday, 6th July 2020

    Crude oil production resumed on July 1 at the Wafra oilfield, which is a joint venture between Kuwait and Saudi Arabia.

  • Kuwait, Saudi Arabia Set to Resume Production at the Neutral Zone

    Kuwait, Saudi Arabia Set to Resume Production at the Neutral Zone

    Tuesday, 23rd June 2020

    Kuwait and Saudi Arabia have plans in place to resume oil production at the Neutral Zone at jointly-operated Khafji and Wafra oilfields on July 1.

  • Kuwait, Saudi Arabia Suspend Joint Field Production in June

    Kuwait, Saudi Arabia Suspend Joint Field Production in June

    Thursday, 21st May 2020

    Kuwait and Saudi Arabia will suspend oil production from their joint Khafji oil field and shut down affiliated facilities for one month starting from June 1.

  • Saudi Arabia, Russia Cooperate Over Oil Market

    Saudi Arabia, Russia Cooperate Over Oil Market

    Thursday, 14th May 2020

    Prince Abdulaziz bin Salman bin Abdulaziz, the Minister of Energy, and the Minister of Energy for the Russian Federation Alexander Novak are in constant contact on the developing oil market situation.

  • Kuwait to Voluntarily Further Reduce Production by 80,000 bbl/d

    Kuwait to Voluntarily Further Reduce Production by 80,000 bbl/d

    Wednesday, 13th May 2020

    Kuwait’s oil minister, Khaled Al-Fadhel, announced that Kuwait will support the Kingdom of Saudi Arabia’s efforts to restore stability to oil markets by cutting production by 80,000 barrels per day (bbl/d).

  • KOTC Receives Shegardiah Oil Tanker

    KOTC Receives Shegardiah Oil Tanker

    Wednesday, 29th April 2020

    The Kuwait Oil Tanker Company (KOTC) received the Shegardiah oil tanker from South Korean manufacturer Hyundai Mipo Dockyard on April 28.

  • OPEC+ Decisions Could Curb Oil Supply by 20%

    OPEC+ Decisions Could Curb Oil Supply by 20%

    Monday, 13th April 2020

    The Organization of the Petroleum Exporting Countries and its allies (OPEC+) announced yesterday to cut oil production by 10 million barrels per day (mmbbl/d) effectively from May 1 through June 30, curbing global oil supply by 20%.

  • Kuwait to Raise Production to 4 MMBBL/D by 2040

    Kuwait to Raise Production to 4 MMBBL/D by 2040

    Thursday, 27th February 2020

    Kuwait commenced operations in the country's largest heavy oil project, located in the north, under the framework of raising its production capacity to 4 million barrels per day (mmbbl/d) by 2040.