Kuwait reports yet another oil spill
Kuwait has reported another oil spill, this time in the southern marine area of Ras Al-Zour.
Kuwait
34,000 gallons of oil spilled off Kuwait, monitoring group says
At least 34,000 gallons of oil have leaked out during a spill off the coast of Kuwait, according to an analysis of satellite imagery.
Petrofac wins $35m Kuwait deal
Petrofac has landed a $35million contract in Kuwait.
Leaders of Kuwait, Qatar meet amid diplomatic row
Kuwait’s emir has travelled to Qatar and met the country’s leader as part of his efforts to mediate an end to a crisis that has seen Arab nations cut ties to the energy-rich country and attempt to isolate it.
Kuwait bids to mediate Gulf crisis after Qatar isolated by neighbours
Kuwait is trying to mediate a crisis in the Gulf after several Arab nations cut ties with Qatar, moving to isolate the energy-rich travel hub from the outside world.
Globalscot to help North Sea oil firms make splash abroad
Lawyer and Middle East business expert Hugh Fraser has been inducted into a global networking initiative set up to help Scottish firms break international markets.
Cape wins HEISCO job in Kuwait
Cape today confirmed it had landed a deal with Heavy Engineering Industries & Shipbuilding Co. (HEISCO) covering painting, insulation and passive fire protection at Kuwait National Petroleum Company’s (KNPC) Fifth Gas Train project.
Kuwait Energy said to plan London IPO, seek $1billion valuation
Kuwait Energy Plc is planning an initial public offering in London that could value the oil and gas exploration business at as much as $1 billion, according to unnamed sources.
Opec deal unlikely to lead to major market rebalancing, researchers say
Analysts have poured cold water on the idea that the recent output deal from Opec and non-Opec countries will lead to a major rebalancing of the oil market.
Kuwait said to renew contract to supply crude oil to Egypt
Kuwait renewed a contract to supply Egypt with crude oil for the next three years, according to a senior Kuwaiti government official, who said the shipments are not intended to make up for the loss of Saudi fuel shipments to the North African country.
Kuwait to raise gasoline prices to counter oil revenue drop
Kuwait’s government approved an increase in prices of gasoline sold locally by as much as 83 percent, becoming the latest oil-rich Arab nation to cut subsidies as lower crude prices squeeze finances.
Kuwait may coordinate with Saudis on $20 billion bond clash
Kuwait is open to liaising with neighboring Saudi Arabia on its planned debt sale as the two OPEC nations prepare to test investor appetite for about $20 billion of bonds.
Oil seen by Kuwait trading as high as $60 until at least 2018
Crude oil will rise to a range of $50 to $60 a barrel until at least 2018 as demand increases and markets absorb an oversupply that’s led to lower prices over the last two years, according to the acting oil minister of OPEC member Kuwait.
Kuwait to spend $115billion on oil projects
Kuwait has ring-fenced $115billion (34.5billion dinars) to spend on oil projects over the next five years, according to a senior oil executive.
OPEC strategy “working” as oil nears $50 on demand
OPEC’s strategy to defend market share over prices is working as oil approaches $50 a barrel amid rising demand and declining output from producers including U.S. shale companies, Kuwait’s acting oil minister said.
Oil declines as Kuwait workers end strike after three-day disruption
Oil fell after Kuwait workers said they would end a strike that disrupted output in OPEC’s fourth-largest producer for three days.
Oil holds near $40 as Kuwait labor strike cuts crude production
Oil held near $40 a barrel as a strike in Kuwait cut output by more than half from OPEC’s fourth-biggest producer.
Kuwait refineries cut back on second day of oil workers strike
Kuwait’s three oil refineries were operating at reduced rates on Monday on the second day of an open-ended labor strike.
Kuwait targets oilput at 43-year high as freeze talks looms
Kuwait Oil Co. will soon offer contracts for offshore rigs and support services to drill its first undersea wells as the Persian Gulf nation tries to boost crude output to the highest level in more than four decades.
Kuwait’s first CO2 plant opens
Kuwait’s first CO2 plant has officially launched.
Workers fix leak at Kuwaiti oil site
Workers are looking to fix a leak at a site where an oil well was being dug in northern Kuwait.
Kuwait plans $100bn sovereign wealth fund, Al-Anba says
Kuwait plans a new state-owned fund to manage as much as $100 billion in local assets with the goal of selling them to private investors in five to seven years, Al- Anba newspaper reported.
Kuwait’s oil minister believes oil prices have bottomed out
Kuwait’s oil minister said he believes oil prices have bottomed out, according to reports. Ali al-Omair was asked if he agreed with recent remarks made by Qatar’s energy minister. He said for between two and three months prices hadn’t gone done so potentially be “at the bottom”.
OPEC brings oil price war home in pursuit for Asia’s cash
When it comes to deciding how much to charge Asian oil buyers, OPEC members are showing little regard for tradition. Suppliers from the Organization of Petroleum Exporting Countries have long moved in lockstep, raising or lowering prices in tandem. Now, Kuwait is undercutting Saudi Arabia by the most on record and Iraq is also selling its oil more cheaply than the group’s biggest member. Qatar is pricing cargoes at the biggest discount in 27 months to competing crude from the U.A.E.’s Abu Dhabi. While the group that accounts for about 40 percent of global oil supplies maintains a collective strategy of flooding the market with crude, the semblance of unity has vanished when setting monthly selling prices. With Asia forecast to account for most of the growth in global oil demand this year, competition for the region’s buyers is trumping historical allegiances.
Amec Foster Wheeler chief calls on service companies to embrace innovation
The boss of Amec Foster Wheeler believes innovation and new approaches to projects were the drivers of future success for oilfield service companies.