KUWAIT PETROLEUM CORPORATION
Kuwait seeks to boost oil production, pushes on with Durra gas field
KPC subsidiary Kuwait Oil Company's CEO Ahmed Jaber Al-Eidan said on Monday Kuwait's production capacity was currently at 2.9 million bpd and would reach 3.2 million bpd by 2025 or 2026. Kuwait's crude production averaged about 2.55 million bpd in August, according to OPEC, of which Kuwait is a member.
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Oil prices climb on weak dollar, supply concerns
The oil and gas rig count, an early indicator of future output, rose four to 763 in the week to Sept. 16, its highest since August, energy services firm Baker Hughes Co said on Friday.
OPEC+ boosts oil output by slower pace than previous months
OPEC, led by Saudi Arabia, and its allies, led by Russia, curtailed production during the pandemic as oil prices and demand plummeted, and those cuts are due to expire in September. The OPEC+ coalition has been gradually adding more oil and gas to the market as economies recovered. Some OPEC nations, such as Angola and Nigeria, have been producing less than the agreed-upon amount.
PM Narendra Modi plans Kuwait visit in January
This will be first PM level visit from India to Kuwait in 40 years, notwithstanding the fact Kuwait is one of India's key oil suppliers and hosts a big diaspora in the region. Enhancing Kuwaiti investments to India and putting in a place a defence partnership is on the cards for the visit, ET has learnt.
Reliance Industries lines up petrochemical play with Adnoc in UAE
Reliance Industries and Abu Dhabi National Oil Co, a state-run oil company of the UAE, have finalised an agreement for a petrochemical joint venture one and a half years after signing a broad framework agreement, said people in the know.
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IOC says will buy Iranian crude oil if sanctions are lifted
India stopped importing oil from Iran in mid-2019 following sanctions on the Persian Gulf nation by the Trump administration.
View: Modi finds his inner Thatcher with privatisation drive
Most importantly, India should set its sights at something higher and more durable than a crisis response.
India prepares for life without Iran oil
US waivers that allowed India to continue importing Iranian oil for six months end May 1.
Oil-rich Kuwait plans to double investments in India; eyes joint projects in third nation
Kuwaiti investment in India has been largely indirect through portfolio managers.
BPCL shelves Bina Refinery IPO plan
The just completed expansion at Bina Refinery has taken its capacity throughput to 7.8 million tonne.
Kuwait names ruler's son as defence minister in shakeup
Nasser Sabah Al Sabah, in his 50s, will serve as defence minister and as deputy prime minister. He takes over the ministry from Mohammad Khaled Al Sabah.
IOC may take Odisha govt to court on Paradip refinery tax sops
The withdrawal of VAT exemption will cost Rs 2,000 cr to IOC this year and will progressively increase every year as more petrol and diesel as well as petrochemicals are sold within the state.
Indian Oil Corporation's Paradip project payback period extended
IOC executives said learnings from the Paradip refinery would help the company in setting up projects faster in the future.
Indian EPC firms awarded projects worth over $5 billion in Kuwait
Many Indian companies are actively participating in the developmental projects of Kuwait, strengthening further ties between the two countries, it said.
For overseas oil & gas assets, India may form joint venture with UAE, Kuwait
India is in talks with the oil rich United Arab Emirates and Kuwait to explore the possibility of setting up separate joint ventures.
India to commission 5-mt underground oil storages by October
The first strategic oil reserve of 1.33 mln tonnes will be ready in Visakhapatnam by next month and this will be followed by two more facilities.
Oil stocks on fire; what to expect from OPEC meet
A glut in supply has led to sharp fall in crude oil prices to 50-month low. The prices of the commodity have declined for a fifth straight month.
L&T gets Rs 5,076 crore-hydrocarbon order in Kuwait
L&T has been expanding its business in the Middle East to re-risk its portfolio and make up for the slowdown in domestic orders.
Kuwait, Abu Dhabi may store 2 million tonne crude oil in Indian caverns
The two have confirmed that they are willing to fill crude in two compartments of caverns at Visakhapatnam and Mangalore.
Pakistan puts on hold plans to import petrol from India: Report
Pakistani refineries produce 'zero-euro' quality oil, whereas Indian refineries produce Euro-3 and Euro-4 quality oil, which is cleaner and more environmentally friendly.
India-Pakistan: Slow progress in trade talks for petroleum, power
Plans of India exporting petrol and power to Pakistan are making a "slow" progress as Islamabad continues to be wary of being dependent on its neighbour
ONGC Videsh Ltd among firms shortlisted for fuel exploration in Afghanistan
OVL is among eight international energy firms shortlisted by Afghanistan for exploration of oil and gas in northern part of the country.
Pakistan not to import diesel, jet fuel from India: Report
Pakistan has refused to import high-speed diesel and jet fuel from India due to security reasons and fears that supplies could be withheld.
HPCL to double oil imports from Saudi Arabia next fiscal
State-owned Hindustan Petroleum Corp Ltd (HPCL) will double crude oil imports from Saudi Arabia next fiscal and cut purchases from Iran by over 14 per cent.
Kuwait, Saudi Arabia not to supply oil to Pakistan on long-term credit
Troubled by circular debt and high intnl oil prices, Pak had requested the two Arab countries to extend their credit term for oil payments.
Air India owes Rs 2,310 crore to oil companies
Air India and its subsidiaries owe Rs 2,310 crore to the oil marketing companies, Civil Aviation Minister Vayalar Ravi informed the Lok Sabha today.
HPCL plans to raise $300 million to fund expansion
The company is also in the process of reviving its $10-bn refinery-cum-petrochemical project in Visakhapatnam and is in talks with various firms to enter into a joint venture partnership.
Kuwait Petroleum may bid in upcoming NELP round with ONGC
KPC was one of the seven suitors for fuel retailing firm IBP Co Ltd, in which the government sold its shareholding through a strategic sale in 2002.
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