Post Tagged with: "Kuwait"

Saudi and Kuwait to halt neutral zone production in June

Saudi and Kuwait to halt neutral zone production in June

Oil & Gas


The countries will stop production for a month as part of measures to reduce oil output

Kuwait and Saudi Arabia will halt oil production in the neutral zone in June for one month, Abdullah al-Sumaiti, acting head …

May 25, 2020 - 7:47 am Crude Oil News, International
Source: Reuters

OPEC+ cuts oil exports sharply so far in May: trackers

Reuters


LONDON – OPEC+ has cut its oil exports sharply in the first half of May, companies that track the shipments said, suggesting a strong start in complying with a new production cut agreement.

The Organization of the Petroleum Exporting …

Source: Reuters

Saudi Arabia, Russia committed to oil market stability: statement

Reuters


DUBAI – Saudi Arabia and Russia are firmly committed to achieving oil market stability and expediting a rebalancing of the market, the energy ministers of the two countries said in a joint statement on Wednesday.

Saudi energy minister Prince …

Saudi Arabia and Kuwait start cutting oil output ahead of schedule

Saudi Arabia and Kuwait start cutting oil output ahead of schedule

Oil&Gas


The two nations acted prior to the May 1 deadline set by OPEC+

Saudi Aramco has reportedly started reducing production from 12 million barrels per day (bpd) to hit its target of 8.5 mbpd, Bloomberg reported. It made the …

April 26, 2020 - 5:36 am Crude Oil News, Crude Oil Storage, International, OPEC, Popular 2
Source: Reuters

Gulf state investors step in to help Aramco hit IPO target: sources

Reuters


DUBAI/ABU DHABI – Saudi Arabia’s wealthy Gulf neighbors plan to invest in the initial public offering (IPO) of Saudi Aramco, sources familiar with the matter said, helping out Riyadh as it strives to raise $25.6 billion from a domestic …

November 27, 2019 - 2:00 pm Closing Bell Story‎, Energy News, Finance, International
Oil Steadies as Saudi, Kuwait Signals Offset Demand Fears

Oil Steadies as Saudi, Kuwait Signals Offset Demand Fears

From Reuters


Oil prices were little changed on Monday as expectations that major producers would continue to reduce global supplies ran into worries about sluggish growth in crude demand due to the U.S.-China trade war.

International benchmark Brent crude settled …

OPEC Oil Output Hits Lowest Since 2011 on Saudi Cut, Sanctions: Reuters Survey

OPEC Oil Output Hits Lowest Since 2011 on Saudi Cut, Sanctions: Reuters Survey

From Reuters


OPEC oil output hit an eight-year low in July as a further voluntary cut by top exporter Saudi Arabia deepened losses caused by U.S. sanctions on Iran and outages elsewhere in the group, a Reuters survey found.

The …

Source: Kuwait Oil Company

Kuwait Teams Up with Halliburton

By Tyler Losier, Energy Reporter, Oil & Gas 360

First offshore project for Kuwait since early 1980s
Kuwait Oil Company (KOC) and Halliburton (stock ticker: HAL) have signed an integrated offshore drilling services contract for six high-pressure, high-temperature exploration wells

Kuwait Petroleum and Shell Sign 15-Year Agreement

Kuwait Petroleum and Shell Sign 15-Year Agreement

Royal Dutch Shell plc (ticker: RDS.A) and Kuwait Petroleum Corp. have signed an LNG contract that secures Kuwait’s domestic energy needs for the next 15 years.

A private source told Bloomberg that the contract will cover 2-3 million metric tons …

Oil Prices Slide on Oversupply, Kuwait Dissolves Parliament

Oil Prices Slide on Oversupply, Kuwait Dissolves Parliament

WTI under $50

Oil prices slipped Monday morning over concerns of global oversupply despite promises from OPEC leader Saudi Arabia that the group would work to limit production at its next meeting in November. Both U.S. and international crude benchmarks …

Oil Prices Up After U.S. Production Falls 24 MBOPD

Oil Prices Up After U.S. Production Falls 24 MBOPD

Oil prices start the day down as Kuwaiti workers end strike

Oil workers in Kuwait ended a three-day strike today that lent support to oil prices earlier this week following the failure of a mixed group of OPEC and non-OPEC …

Kuwait Oil Workers Plan to Strike During Doha Freeze Meeting on Sunday

Kuwait Oil Workers Plan to Strike During Doha Freeze Meeting on Sunday

Concerns over a government payroll overhaul prompt oil workers to strike in Kuwait

Concerns over pay and benefits have led oil and gas unions in Kuwait to call for a strike starting the same Sunday as the production freeze talks …

April 15, 2016 - 4:25 pm Closing Bell Story‎, Oil and Gas 360 Articles, OPEC
OPEC Members Undercutting Each Other in Fight for Market Share

OPEC Members Undercutting Each Other in Fight for Market Share

The spread on OPEC members’ crude widens as competition increases

Members of OPEC are beginning to cut their own prices relative to one another as the competition over share of global markets, particular Asia, continues to intensify. Traditionally, members of …

October 20, 2015 - 1:53 pm International, Oil and Gas 360 Articles, OPEC
Sub $50 Oil is Giving OPEC Countries a Sharp Pain:  Who will be First to Cave?

Sub $50 Oil is Giving OPEC Countries a Sharp Pain: Who will be First to Cave?

OPEC gulf producers look to stay the course for now

A global over-supply of crude oil has sent the price for the commodity down to historic lows since June of 2014, when the prices for Brent and WTI crude were …

OPEC: Too Close to Call - Oil & Gas 360

Crude Cargos from Iraq and Kuwait Higher Last Week

Imports from both OPEC countries were higher than their four-week averages

U.S. imports of crude oil from OPEC members Iraq and Kuwait were higher last week, a note from Global Hunter Securities said today. “Summer refinery gasoline demand is likely …

May 21, 2015 - 6:22 pm International, Oil and Gas 360 Articles, OPEC