Kuwait | Egypt Oil & Gas - Part 18
Kuwait’s Oil Cuts to Reach 148,000b/d
Kuwait's output cuts could reach between 146,000 and 148,000b/d, which is more than the reduction to which the member of the Organization for Petroleum Exporting Countries (OPEC) committed itself.
Saudi Arabia Increased Oil Output Reductions
Saudi Arabia reduced oil production to less than 10mb/d, below its targeted level, and will consider renewing its pledge to cut crude output in six months.
Equate Petrochemical to Issue USD Sukuk
Kuwait's Equate Petrochemical is expected to launch in the first quarter, and potentially as soon as January, a US dollar sukuk issue.
Kuwait, Oman Cut Oil Output per OPEC Deal
Inline with OPEC's production reduction agreement, Kuwait has cut output by 130,000b/d to about 2.75mb/d. While, Oman was to cut 45,000b/d from its 1.01mb/d.
Kuwait to Import Gas from Iraq
Kuwait is set to import up to 200mcf/d of gas from Iraq, as the two countries finalize a a long-delayed deal.
Kuwait Energy, Vitol Signed Financing Deal
Kuwait Energy signed a forward sale agreement with Vitol providing it with a financing facility for up to $100m.
Kuwait to Start Heavy Oil Production by 2018
Kuwait will begin heavy oil production by the end of 2018, with roughly 10,000 to 15,000 b/d at Ratqa refinery.
Kuwait Grew Oil Exports to Japan by 11.7%
Kuwait’s crude oil exports to Japan jumped 11.7% percent in October when compared to 2015 volumes for the same period, to reach 6.62mb.
