Europe Top News and Analysis Kuwait

  • *Yemen group says attacks Aramco plants in Abqaiq and Khurais. *Saudi-led coalition strikes Houthi stronghold in Yemen. RIYADH/ DUBAI/ LONDON, Sept 14- Yemen's Iran- aligned Houthi group on Saturday attacked two plants at the heart of Saudi Arabia's oil industry, including the world's biggest petroleum processing facility, in a strike that three sources said had...

  • *Yemen group says attacks Aramco plants in Abqaiq and Khurais. *Saudi-led coalition strikes Houthi stronghold in Yemen. RIYADH/ DUBAI/ LONDON, Sept 14- Yemen's Iran- aligned Houthi group on Saturday attacked two plants at the heart of Saudi Arabia's oil industry, including the world's biggest petroleum processing facility, in a strike that three sources said had...

  • ABU DHABI, Sept 12- OPEC is notorious for arguing over production policies- but Prince Abdulaziz bin Salman has effectively managed to deliver his first output cut just four days after becoming the new Saudi energy minister. Prince Abdulaziz said first and foremost he was keen to rebuild trust with oil neighbours Kuwait, the United Arab Emirates, Oman and other...

  • WAD RAMLI, Sudan, Sept 10- In Wad Ramli, a village outside the Sudanese capital of Khartoum, Alsamani Fathalrahman and his neighbors traveled in blue speedboats through flooded streets trying to salvage their belongings. "The civilian government is right now an abstract notion," said Magdi El Gizouli, a Sudanese academic based in Germany and fellow of the Rift...

  • ABU DHABI, Sept 8- United Arab Emirates' Minister of Energy and Industry Suhail al-Mazrouei said on Sunday that OPEC and non- OPEC producers are "committed" to achieving oil market balance. Saudi Arabia and Russia are members of the JMMC, which includes other major oil producers who took part in a global supply pact last year, including Iraq, the United Arab Emirates,...

  • CAIRO, Sept 8- Egyptian digital payments company Fawry plans to expand into the United Arab Emirates by the end of the year and also hopes to enter Saudi Arabia and Kuwait in 2020, its managing director said. Founded in 2009, Fawry offers digital payments to companies and individuals in Egypt, the Arab world's most populous nation, where many do not have a bank...

  • A U.K.-flagged tanker, Stena Impero, was seized and detained by the Iranian Revolutionary Guard between July 19 and July 21, 2019 in the Strait of Hormuz.

    The drones will help with overhead surveillance as British warships escort U.K.-flagged tankers through the Strait of Hormuz, reported Sky News.

  • Sept 2- The United Kingdom is considering deploying British drones to the Gulf amid tensions with Iran, Sky News reported early on Monday. UK's Royal Air Force has a number of Reaper drones based in nearby Kuwait and flying over Iraq and Syria. On Friday, the UK called for broad support to tackle Gulf shipping threats after Iran seized a British-flagged oil tanker...

  • Russia is one of the top oil exporters to China and is set to launch a gas export pipeline connecting the two countries by the end of this year. According to rail statistics, Irkutsk Oil Co, known by the Russian acronym INK, shipped around 2,300 tonnes of propane and butane mixture by train towards the Far East Gas terminal in northeastern China between Aug. 16 and 26.

  • Crude oil from the Organization of the Petroleum Exporting Countries made up 30% of world oil supply in July 2019, down from more than 34% a decade ago and a peak of 35% in 2012, according to OPEC data. Despite OPEC- led supply cuts, oil has tumbled from April's 2019 peak above $75 a barrel to $60, pressured by slowing economic activity amid concerns about the U.S.-...

  • KUWAIT, Aug 18- The Kuwait Investment Authority began increasing its exposure to bonds and cash two years ago to boost liquidity in its portfolio as the global economy showed signs of weakness, Kuwaiti newspaper Alqabas reported on Sunday, citing sources. KIA, which the Sovereign Wealth Fund Institute estimates manage $592 billion of assets, does not publicly...

  • SEOUL, Aug 15- South Korea's oil imports from the United States and the United Arab Emirates jumped in July, with Iranian shipments remaining at zero for a third month due to U.S. sanctions, customs data showed on Thursday. In July last year, before the re-imposed sanctions, South Korea imported 788,651 tonnes of crude oil from Iran, or 185,715 barrels per day,...

  • International benchmark Brent crude futures were down 11 cents or 0.2%, from the previous settlement, to $58.46 a barrel by 0108 GMT. Saudi Arabia, the de-facto Organization of the Petroleum Exporting Countries leader, opened its books as part of plans to launch what could be the world's largest initial public offering. Kuwait on Monday reiterated its...

  • HOUSTON, Aug 12- Oil prices were little changed on Monday as expectations that major producers would continue to reduce global supplies faced worries about sluggish crude demand growth due to the U.S.- China trade war. International benchmark Brent crude was 6 cents higher at $58.59 a barrel by 11:51 a.m. CDT, after trading between $57.88 and $58.88.

  • International benchmark Brent crude was 14 cents lower at $58.39 a barrel by 10:41 a.m. CDT, after trading between $57.88 and $58.88,. Kuwait was "fully committed" to the OPEC+ agreement, Oil Minister Khaled al-Fadhel said, adding the OPEC member has cut its own output by more than required by the accord. Analysts said that in a sign that de-facto OPEC leader Saudi...

  • LONDON, Aug 12- Oil prices fell on Monday amid worries about a global economic slowdown and the ongoing U.S.- China trade war, which has reduced demand for commodities such as oil. Although the third quarter is fundamentally the strongest season for oil demand as drivers take to the roads for summer holidays, the trade dispute between the United States and China...

  • DUBAI, Aug 12- Kuwait is "fully committed" to implementing an agreement between oil exporting countries to cut production in order to support crude prices, Oil Minister Khaled al-Fadhel said on Monday. "The compliance of Kuwait was close to 160% last July," he was quoted as saying by the official news agency KUNA. The Organization of the Petroleum Exporting...

  • *OPEC oil output drops by 280,000 bpd in July. LONDON, July 31- 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 survey suggests Saudi Arabia is sticking to its plan of voluntarily restraining output by...

  • BAGHDAD, July 31- Iraq has agreed with Kuwait to appoint British energy advisory firm ERC Equipoise to prepare a study for the development of joint border oilfields, the Iraqi oil ministry said on Wednesday. There are several oilfields in the border area between Iraq and Kuwait, most prominently Ratqa, which is a southern extension of Iraq's giant Rumaila field.

  • NEW YORK, July 24- Oil prices fell 1% on Wednesday, failing to draw lasting support from a large decrease in U.S. crude stockpiles as investors worried about global oil demand. Brent crude futures dropped 65 cents, or 1%, to settle at $63.18 a barrel, while U.S. On the supply side, OPEC members Saudi Arabia and Kuwait have discussed resuming oil production in jointly...