KNPC to Establish 10 Gas Stations Worth $51.25 M

• Tuesday, 16th January 2018
• by Sarah Samir

Kuwait National Petroleum Company (KNPC) has packed a deal with Combined Group Contracting Company (CGC) to establish 10 new gas filling stations across Kuwait for around $51.25 million, Kuwait News Agency reported. T...

KPI Acquires 50% of Omani Refinery

• Monday, 15th January 2018
• by Sarah Samir

Kuwait’s High Petroleum Commission announced that Kuwait Petroleum International (KPI) now has a 50% share of Oman’s Duqm refinery. The refinery’s ownership was finalized during a Comission’s meeting...

Kuwait Increases Oil Prices by 0.44%

• Wednesday, 3rd January 2018
• by Sarah Samir

Kuwait increased crude oil prices by 0.44% to be $63.78 per barrel, compared to $63.5 per barrel on December 29th, 2017, Kuwait News Agency (KUNA) reported. Brent Blend fell by around 0.45% to reach $66.57 per barrel,...

KOTC to Expand Fleet

• Tuesday, 26th December 2017
• by Editorial Team

Kuwait Oil Tanker Company (KOTC) plans to expand its fleet by eight tankers, KUNA reports. The new vessels are part of the company’s 2020 modernization plan, according to the state-run news agency. The vessels will be...

KPC, Shell Sign LNG Contract

• Tuesday, 26th December 2017
• by Editorial Team

Kuwait Petroleum Corporation (KPC) signed a 15-year contract with Royal Dutch Shell for the import of liquefied natural gas (LNG), Bloomberg reports. The contract will begin in 2020, according to the news agency. KPC ...

Construction at Duqm Refinery to Begin in 2018

• Wednesday, 20th December 2017
• by Editorial Team

Construction at the Duqm Refinery in Oman will begin next year, the Kuwait Oil Minister, Bakheet El Rashidi, said, KUNA reports.   The minister indicated that $5 billion in loans for the project will be finalized duri...

Kuwait’s Oil Minister: Demand to Rise by 1.5M b/d

• Wednesday, 20th December 2017
• by Editorial Team

Global oil demand will increase 1.5 million barrels per day (b/d) next year, Kuwait’s Oil Minister, Bakheet El Rashidi, predicted, according to Bloomberg. “That [higher demand] will support oil prices and support refi...

Kuwait Appoints New Oil Minister

• Tuesday, 12th December 2017
• by Sarah Samir

In a cabinet shake-up, Bakheet El Rashidi, CEO of Kuwait Petroleum International (KPI), has been appointed as Kuwait’s new oil minister, Bloomberg reports. Under El Rashidi, KPI has invested in refining operations acr...

Kuwait, Iraq Agree to Natural Gas Price

• Monday, 27th November 2017
• by Editorial Team

Kuwait and Iraq agreed on an export price for Iraq’s natural gas, the Kuwaiti Oil Minister, Issam El Marzouq, said, Reuters reports. The Iraqi government still must approve of the prices. Negotiations over the prices ...

Iraq Considering Natural Gas Pipeline to Kuwait

• Thursday, 23rd November 2017
• by Editorial Team

Iraq is considering building a natural gas pipeline to Kuwait and an associated petrochemical plant, Reuters reports. The Iraqi government has hired Toyo Engineering, a Japanese firm, for the project, the news agency ...