Gulf Oil and Gas accountACCOUNT

Delivery of Kuwait's Oil Donation to Japan Completed

Source: KUNA 12/14/2011, Location: Middle East

Share |
Japan renewed its gratitude for unstinted assistance, and expressions of condolences and sympathies from Kuwait in the wake of the March disasters, especially the donation of five million barrels of crude oil, all of which were already delivered. This came in a meeting here between outgoing Minister of State for Planning and Development Abdulwahab Al-Haroun and Japanese Vice-Minister of Economy, Trade and Industry Keiro Kitagami.

"On behalf of the Japanese government and the people, I would like to extend sincere thanks to H.H. the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah, the Kuwaiti government and people for their sense of solidarity and generosity, which deeply touched and encouraged us," Kitagami said. "Your support has evidenced the strong ties between Japan and Kuwait," he said, adding that it has promoted Kuwait-Japan friendship. Kuwait's contribution of five million barrels of crude oil was decided in April upon directives of H.H. the Amir in the wake of a 9.0-magnitude earthquake and tsunami on March 11 that left nearly 21,000 people dead or missing.

The first batch of the donated oil arrived in October, and all five million barrels were already delivered to four Japanese refiners by last month, according to Kitagami. The donation was equivalent to some USD 500 million and surpassed Japan's daily consumption of 4.4 million barrels. Money to the value of the free oil are provided to the three hardest-hit prefectures in the northeastern region through the Japan Red Cross, with focusing on eight projects, such as infrastructure recovery and support for education, employment and agriculture.

Al-Haroun expressed his heartfelt condolences to the Japanese people. "The support from Kuwait demonstrates our appreciation for the past support from Japan to our country and friendship between the two countries. We also remember that, during the Iraqi invasion, Japan stood by the Kuwaiti right with vital contribution in the liberation war in 1991," he said. Al-Haroun also expressed admiration for the Japanese people for their resilience and endurance in the wake of the disasters, which "impressed the world." Kitagami and Al-Haroun shed light on the smooth growth of Kuwaiti-Japanese relations ever since they first forged diplomatic ties 50 years ago, saying that the two countries have witnessed a sustainable and growing cooperation in various areas. The both officials attended the 16th Kuwaiti-Japanese Businessmen's Committee.

The meeting was attended by Japanese Ambassador to Kuwait Yasuyoshi Komizo, First Secretary at the Kuwaiti Embassy in Japan Mohammed Al-Mutairi, Co-Chairs of the Kuwaiti-Japanese Businessmen's Committee Khaled Al-Sager and Hiroshi Saito. Al-Haroun arrived here.

Financials and Investment News in Kuwait >>

United Kingdom >>  8/17/2018 - Independent Oil and Gas plc ("IOG"), the development and production focused Oil and Gas Company, is pleased to announce the proposed funding of its 10...
United Kingdom >>  8/16/2018 - Petrobras and Ensco announce today that they have agreed to a settlement of all claims relating to the ENSCO DS-5 drilling services agreement. While t...

United Arab Emirates >>  8/14/2018 - Dana Gas PJSC, the Middle East's largest regional private sector natural gas company, has announced that the issue of its new Sukuk has been completed...
United Kingdom >>  8/13/2018 - Petrofac has secured US$300 million of new bank facilities with existing relationship banks. These new committed facilities, which will mature in 2020...

Iran >>  8/6/2018 - Iran plans to implement a new financial rescue package on Monday to try and halt the rialís decline, coinciding with the re-imposition of severe U.S. ...
Iran >>  8/5/2018 - Saudi Arabia has agreed to admit an Iranian diplomat to head an office representing Iranian interests in the kingdom, the official Iranian news agency...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


Kuwait Oil & Gas 1 >>  2 | 3 | 4 | 5 |

More News

 

Oil & Gas Companies in Kuwait >>


Related Links

AE BH IL IQ JO KW LB OM QA SA SY YE
Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.