Tag Archive

The Oil Crisis Saudi Arabia Can’t Solve

The Oil Crisis Saudi Arabia Can’t Solve

June 29, 2019 No Comments

Saudi Arabia’s CEO Amin Nasr’s message to the press that oil flows to the market are guaranteed, should be taken with a pinch of salt.  Looking at the current volatility in the Persian/Arabian Gulf and the possibility of a temporary closure of the Strait of Hormuz, the Aramco CEO’s message might be a bit overoptimistic. In reality, […]

KNPC Forms a Committee to Familiarize Foreign Workers with their Rights

KNPC Forms a Committee to Familiarize Foreign Workers with their Rights

June 28, 2019 No Comments

KNPC announced the formation of a social welfare committee to familiarize foreign workers in their projects with their rights as per their contracts and the Kuwait Labor Law. The committee has conducted its first round at the Clean Fuels Project “CFP”, which includes the largest number of these workers, totaling about 50 thousand, working under […]

McDermott Awarded Petrochemicals Contract in Kuwait

McDermott Awarded Petrochemicals Contract in Kuwait

April 25, 2019 No Comments

McDermott International, Inc. (NYSE: MDR) and Kuwait Integrated Petroleum Industries Company (KIPIC), a subsidiary of Kuwait Petroleum Corporation (KPC), announced that KIPIC has awarded McDermott a technology contract for the basic engineering, technology license and catalyst for an integrated Low Pressure Recovery (LPR) and Olefins Conversion Technology (OCT) unit at KIPIC’s Petrochemical Refinery Integration Project […]

Schlumberger’s New Perforating Gun System

Schlumberger’s New Perforating Gun System

April 5, 2018 No Comments

Schlumberger introduced the Tempo* instrumented docking perforating gun system at the SPE/ICoTA Coiled Tubing and Well Intervention Conference and Exhibition. This groundbreaking combination of a plug-in gun design with real-time advanced downhole measurements enables and monitors the well’s dynamic underbalance to create clean perforations that boost reservoir productivity. The proprietary docking components of the compact […]

IMF Executive Board Concludes 2017 Article IV Consultation with Kuwait

IMF Executive Board Concludes 2017 Article IV Consultation with Kuwait

January 25, 2018 No Comments

On January 12, 2018, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with Kuwait. Non-oil growth has picked up modestly over the past two years, and inflation has moderated. After coming to a standstill in 2015, real non-hydrocarbon growth has recovered and is set to reach 2.5 percent this […]

Different Oil Prices in the World

Different Oil Prices in the World

November 13, 2017 No Comments

Oilprice have just finished an 18-month project to bring all of the different oil prices in the world out into the public domain and for free to bring more transparency to markets. This product has never been available to the public and was quite expensive access in the past. Source / More:oilprice.com/oil-price-charts Most people don’t […]

OPEC Is 57

OPEC Is 57

September 18, 2017 No Comments

The Fourteenth of September is always a special day for OPEC. It is the day in 1960 when the five Founding Members of OPEC, Iraq, the Islamic Republic of Iran, Kuwait, Saudi Arabia and Venezuela created OPEC at the historic ‘Baghdad Conference’. Today is the Organization’s 57th anniversary. These five Founding Members representing their oil-producing […]

Total Divests Completely from Gina Krog Field in Norway

Total Divests Completely from Gina Krog Field in Norway

September 4, 2017 No Comments

Total has signed an agreement to divest its remaining 15% interest in the Gina Krog field in Norway to Kuwait Foreign Petroleum Exploration Company (KUFPEC). This agreement builds on the 2016 transaction between Total and KUFPEC concerning Norwegian North Sea assets, which included a 15% interest in Gina Krog. The overall consideration for both deals […]

KNPC to Invest $11.6 bln over five years

KNPC to Invest $11.6 bln over five years

August 30, 2017 No Comments

Kuwait National Petroleum Corp (KNPC) plans to spend around $11.6 billion (3.5 billion dinars) from 2018-2023, Kuwaiti newspaper Al Rai quoted the company’s chief executive as saying on Sunday. KNPC is developing the Clean Fuels Project that will upgrade and expand two of its largest refineries to make higher-value products such as diesel and kerosene […]

Saipem awarded E&C contract in Kuwait worth US$850m

Saipem awarded E&C contract in Kuwait worth US$850m

August 17, 2017 No Comments

Saipem has been awarded a new contract in the onshore E&C sector worth approximately 850 million USD. Activities involve engineering, procurement, construction and commissioning for the “Feed Pipelines for New Refinery Project (NRP)” in relation to the development of the new Al Zour refinery located in the south of Kuwait. The contract has been awarded […]

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