Kuwait Oil Company discovers 800M barrels of oil and 600B cubic feet of gas at Al-Jlaiaa, boosting energy ambitions and plans for a 40% production capacity expansion.
Kuwait Oil Company (KOC) has discovered significant hydrocarbon reserves at the Al-Jlaiaa offshore field, with 800 million barrels of medium-density oil and 600 billion cubic feet of gas, according to Arabian Gulf Business Insight (AGBI).
This follows a July 2024 discovery at Al-Nokhatha field with 3.2 billion barrels of oil equivalent.
KOC is conducting a 6,000 sq km exploratory survey to locate more reserves. Kuwait, OPEC’s fifth-largest producer, aims to boost its current production capacity of 2.48 million barrels per day (bpd) to 4 million bpd by 2035. Despite global demand concerns, plans include a 40% capacity expansion, as stated by Khaled Al Sabah, CEO of Kuwait Oil Tanker Company.
Kuwait’s economy contracted 4% in Q3 2024 due to OPEC cuts and weak non-oil performance but is forecasted to recover in 2025, per the Kuwait Statistical Bureau.
Azerbaijan has dispatched a new rail shipment of petroleum products to Armenia, marking a continued resumption of trade following the lifting of long ...
Venezuela has released Former opposition candidate Enrique Marquez and prominent Venezuelan-Spanish rights activist Rocío San Miguel and four other S...
French President Emmanuel Macron has warned that the U.S. is “gradually turning away” from some of its allies and “breaking free from internatio...
Tens of thousands of Iranians have taken to the streets in Tehran and across at least 28 cities in a wave of anti-government demonstrations, now enter...
Russian drone and missile attacks on Kyiv early on Friday (9 January) killed at least 4 people, injured at least 19, and caused significant damage to ...
Sixty-three people suffered methanol poising from impure alcoholic drinks since Saturday (9 August), Kuwait’s health ministry said. It resulted in 13 deaths and 21 cases of blindness or impaired vision.
Azerbaijan and Kuwait have formalized plans to cooperate in the field of agriculture through a newly approved memorandum.
The U.S. State Department has approved a potential $425 million sale of Patriot missile systems equipment and support services to Kuwait, the Pentagon said on Wednesday.
Uzbekistan and Kuwait have signed a memorandum of understanding aimed at facilitating trade between the two nations. The agreement was formalized during the Uzbek-Kuwaiti Intergovernmental Commission on Trade, Economic, and Scientific-Technical Cooperation meeting.
Snow and ice stalled travellers in northwest Europe on Wednesday, forcing around a thousand to spend the night in Amsterdam's Schiphol airport but delighting others who set out to explore a snow-blanketed Paris on sledges and skis.
Two people have been killed after a private helicopter crashed at a recreation centre in Russia’s Perm region, Russian authorities and local media have said.
U.S. President Donald Trump has warned that Iran could face a strong response from the United States if its authorities kill protesters amid ongoing unrest.
Snow and ice caused travel chaos in northwest Europe on Wednesday, while others were delighted by the snow-covered streets of Paris, venturing out on sledges and skis.
Iran is now facing a near‑total internet blackout as anti-government protests sweep the country. Major cities including Tehran have seen connectivity drop sharply, leaving millions of residents isolated from online communication.
Azerbaijan has dispatched a new rail shipment of petroleum products to Armenia, marking a continued resumption of trade following the lifting of long standing transit restrictions.
Georgia is set to impose a transit fee on the second shipment of petroleum products from Azerbaijan to Armenia, according to Armenian media quoting a statement from Karen Ayiryan, Director of Mega Trade on Thursday (8 January).
Overhauling Armenia's economic structure and strengthening state institutions is a main focus as the Armenian government adopts a 42-page Doctrine of Economic and Institutional Transformation on Thursday (8 January), Prime Minister Nikol Pashinyan announced.
The Israel Defence Forces (IDF) and Shin Bet say they carried out targeted strikes on Hamas operatives and infrastructure in the Gaza Strip on Thursday (8 January) after detecting a failed rocket launch from the Gaza City area.
Iran does not seek war with Israel or the United States but is prepared to respond if attacked, Iranian Foreign Minister Abbas Araghchi said on Thursday (8 January ) as economic protests sweep the country and Tehran's crackdown reportedly intensifies.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment