Kuwait Oil Minister Says So Far No Plan to Exit Oil Cuts

Source: Reuters 1/17/2018, Location: Middle East

Kuwait’s oil minister Bakhit al-Rashidi said there is no plan or intention so far to exit from a production-cutting agreement among OPEC and non-OPEC oil producers. “The production-reduction agreement will remain for a long time and there is no thinking right now to exit it,” Rashidi told a news conference in Kuwait City.

He said a Jan. 21 committee meeting of some OPEC and non-OPEC ministers in Oman would focus on reviewing adherence to the cuts, adding that compliance in December was at 125 percent.

Russia and Saudi Arabia are leading the joint effort to limit crude production and prop up prices. The agreement runs until the end of 2018.


Norway >>  5/20/2022 - Preliminary production figures for April 2022 show an average daily production of 1 871 000 barrels of oil, NGL and condensate.

Total gas ...

Cameroon >>  5/19/2022 - Victoria Oil & Gas Plc , whose wholly owned subsidiary, Gaz du Cameroun S.A . ("GDC"), is the onshore gas producer and distributor with operations lo...

United Kingdom >>  5/19/2022 - Hurricane Energy plc, the UK based oil and gas company, provides an update on Lancaster field operations and net free cash balances as of 30 April 202...
United States >>  5/17/2022 - Canadian Overseas Petroleum Limited ("COPL" or the "Company"), an international oil and gas exploration, production and development company with produ...

Russia >>  5/16/2022 - PAO NOVATEK (“NOVATEK”) announces that the Company's subsidiary OOO NOVATEK-Yurkharovneftegas has started pilot production from gas condensate deposit...
United Kingdom >>  5/16/2022 - Union Jack Oil plc (UJO), a UK focused onshore hydrocarbon production, development and exploration company, is pleased to announce its audited results...

Related Categories: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  Food Supplies  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Unskilled Labors  Utility Systems  Waste Disposal  Water Supply Services  Welding Products/Services 

Related Articles: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Utility Systems  Waste Disposal  Water Supply Services  Welding Products/Services 


Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.