Gulf Oil and Gas accountACCOUNT

Delivery of Kuwait's Oil Donation to Japan Completed

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

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 >>  2/15/2019 - Angus Energy has announced that the Company has placed, subject to admission to trading on AIM, 55,000,000 new Ordinary Shares in the Company with exi...
Saudi Arabia >>  2/14/2019 - Saudi Aramco has selected banks to arrange its first international debt sale which will help it finance the acquisition of a stake in Saudi Arabian Ba...

Australia >>  2/12/2019 - Carnarvon Petroleum Limited is conducting a placement to institutional and sophisticated investors to raise approximately $50 million. The Placement c...
Norway >>  2/7/2019 - DNO ASA, the Norwegian oil and gas operator, announced 2018 net profit of USD 354 million on revenues of USD 829 million, the highest annual revenues ...

Tanzania >>  2/7/2019 - The Company is pleased to announce that as it enters a period of operations it has raised approximately 1.85 million (approximately $2.40 million) be...
United States >>  2/7/2019 - Apache Corporation announced that its board of directors has approved a 2019 upstream capital budget1 of $2.4 billion. This represents a significant r...

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

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.