With rising oil prices, Iran, Iraq, Kuwait, and Qatar could run budget surpluses next year if prices remain stable, Bloomberg reports. Oil prices will float between $50 to $60 per barrel for the “medium term,” accordi...
The Kuwaiti Al Arfaj Group signed a memorandum of understanding to build a 600,000 barrel per day (b/d) oil refinery in the Indian state of Andhra Pradesh, according to the Chief Minister of Andhra Pradesh, N. Chandra...
Egypt Gas Company signed an $8.6 million contract with Al Rabiya in Kuwait, Amwal Al Ghad reports. The contract represents the company’s plans to extend its operations outside of Egypt. The contract will go into effec...
A number of Egyptian firms participated in the Kuwait Oil & Gas Show and Conference (KOGS 2017), Egypt Oil & Gas reports. The theme of the conference was “Shaping the Energy Future: Integration and Diversifica...
Kuwait Petroleum Company (KPC) plans to raise crude oil output to 4 million barrels a day by 2020 and natural gas output to 1 billion cubic feet per day (bcf/d) by 2023, the CEO and Deputy Chairman of KPC, Nizar El Ad...
Despite simmering tensions in Iraq and uncertainty over the Iran nuclear agreement, world oil supplies have remained steady, according to the Kuwaiti Oil Minister, Essam El Marzouq, Reuters reports. “Unit now there ar...
Egypt’s Arab Petroleum Pipelines Company (SUMED) renewed its contract for the storage and transportation of crude oil with Kuwait Petroleum Corporation (KPC), according to Kuwait News Agency (KUNA). KPC aims to ...
Kuwait is looking to sign new crude export deals with Chinese buyers, an official at Kuwait Petroleum Corporation (KPC), Waleed El Bader, told Reuters. “We see medium sour demand is very healthy and we have been appro...
Kuwait announced a new tender for the development of its Jurassic natural gas field, Platts reports. The tender is for the development of a new facility called Jurassic gas facility (JGF-1). Upon completion, the facil...
Another oil spill occurred in Kuwaiti national waters, Reuters reports. “All necessary and emergency procedures” have been implemented to limit the damage from the spill, the Kuwait Petroleum Corporation (KPC) said, a...