Arab Today, arab today capex on oil industries estimated at 100m in 5 years
Last Updated : GMT 03:50:47
Arab Today, arab today
Arab Today, arab today

Kuwaiti Minister Ali al-Omair:

Capex on oil industries estimated at $100m in 5 years

Arab Today, arab today

Arab Today, arab today Capex on oil industries estimated at $100m in 5 years

Kuwaiti Minister Ali al-Omair
Kuwait - Arab Today

Capital expenditures (capex) on oil industries in Kuwait are estimated at USD 100 million over the coming five years, in line with the strategic orientations of the oil sector, Minister of Oil and Minister of State for National Assembly Affairs Ali Saleh Al-Omair revealed here on Wednesday.
Despite low oil prices, the atmosphere should be alternated into a more optimistic and positive one, devoting efforts to serve our peoples, Al-Omair told the opening session of the first Petroleum Economist Hydrocarbons Strategy Forum that kicked off here today.
He pointed to the huge challenges of the oil industry, as demand is falling in some markets and slowing in emerging ones, amid a growing pace of competition due to oversupply.
Oil prices have been decreasing, after the relative stability over the past years, the Minister said. He stressed the dire need for cooperation on all levels to secure power security and stability on markets.
In spite of the severe decline in oil prices, Kuwait insists on speeding up the pace of work in the grand projects in line with the strategic orientations of the Kuwait Petroleum Corporation (KPC), as part of the responsibility to meet power needs and guarantee power security, Al-Omair said.
"We (in Kuwait) believe that expansion in petrochemicals at home and overseas to realize integrity with the refining industry, secures stability of revenues, and helps make the utmost benefit from the crude in a way that alleviates impact of price fluctuations," the Minister told the session.
There is no OPEC or non-OPEC attempt to reduce production, Omani Minister of Oil and Gas Mohammad Al-Rumhi. He hinted to differences among OPEC members on the issue.
On the impact of falling oil prices on Oman's production, Al-Rumhi stressed that the Sultanate could withstand the decline through 2015.
But in case the trend carries on for more years, Oman and other countries will be impacted and will have to amend their plans of production, he noted.
For his part, Iraqi Oil Minister Adel Abdul Mahdi underlined the fact that hydrocarbons provide the world with about 80 percent of power, while other sources, such as solar and nuclear powers offer less than 20 percent.
He cited statistics to show that fossil fuels will remain the major source of energy for long years to come, referring to rising demand on oil and gas, expected to hit 110 million barrels daily in 2025.
The one-day Forum, held under "Cooperation: The Gulf 's new imperative", is organized by the Petroleum Economist magazine and co-hosted by KPC.
It provides a platform to discuss emerging trends in hydrocarbon production and use in the region and explore how governments are using the sector to diversify and develop their wider economies.
Source: KUNA

arabstoday
arabstoday

GMT 05:19 2017 Thursday ,07 September

Oil price to stay at $50-$55 a barrel

GMT 02:17 2017 Monday ,04 September

UK will not be pressured by EU timetable: Davis

GMT 20:54 2017 Sunday ,03 September

BRICS turned into pushing power

GMT 14:42 2017 Tuesday ,29 August

Qabil: challenges by Industrial sector

GMT 20:39 2017 Saturday ,26 August

Mayor calls for Petrobras privatization

GMT 14:45 2017 Thursday ,17 August

MP: government ignores citizen
Arab Today, arab today
Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today capex on oil industries estimated at 100m in 5 years Arab Today, arab today capex on oil industries estimated at 100m in 5 years

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today capex on oil industries estimated at 100m in 5 years Arab Today, arab today capex on oil industries estimated at 100m in 5 years

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today unveils Joon - the 'millenials' airline

GMT 13:36 2017 Saturday ,23 September

unveils Joon - the 'millenials' airline
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Iran tests new medium-range missile

GMT 21:24 2017 Saturday ,23 September

Iran tests new medium-range missile
Arab Today, arab today Saudi Arabia to unblock internet calling apps

GMT 11:31 2017 Wednesday ,20 September

Saudi Arabia to unblock internet calling apps
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today All eyes on May as she prepares

GMT 10:16 2017 Friday ,22 September

All eyes on May as she prepares
Arab Today, arab today Big Western brands polluting oceans

GMT 20:10 2017 Saturday ,23 September

Big Western brands polluting oceans
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Carmakers face billions in European

GMT 12:37 2017 Saturday ,23 September

Carmakers face billions in European
Arab Today, arab today Mercedes pumps 1 bln euros    

GMT 06:04 2017 Friday ,22 September

Mercedes pumps 1 bln euros    
Arab Today, arab today Lebleba is preoccupied in filming 'Back Street'

GMT 08:56 2017 Thursday ,21 September

Lebleba is preoccupied in filming 'Back Street'
Arab Today, arab today Puerto Rico, Virgin Islands brace

GMT 12:01 2017 Wednesday ,20 September

Puerto Rico, Virgin Islands brace

GMT 08:59 2017 Wednesday ,20 September

Youssra prepares for launching her program

GMT 18:09 2017 Thursday ,21 September

China lifts 10-year travel ban

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 06:21 2017 Wednesday ,20 September

France hopeful of persuading Trump

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 08:39 2017 Friday ,22 September

New Hurdles as Republicans Rush

GMT 06:49 2017 Friday ,22 September

O'Leary: Could ground more planes

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday