Kuwait to boost output capacity for light crude

      Published on Thursday, 8 November , 2018      345 Views     
Kuwait to boost output capacity for light crude


Kuwait plans to boost its output capacity for light crude oil to 250,000 barrels per day (bpd) from some 175,000 bpd now, a senior Kuwaiti official said on Wednesday.



“The company seeks to… increase our production capacity of natural gas to 1 billion cubic feet per day and to 250,000 bpd of light crude in the next five years,” Jamal Jaafar, chief executive of state-run Kuwait Oil Co, said at an event broadcast on Kuwait TV.

The Gulf country’s oil minister, Bakhit Al Rashidi, said at the event

— held to mark the official start of Kuwait’s exports of light crude — that the current output potential of the new grade is 175,000 bpd from fields in the country’s north.

The new grade, called Kuwait Super Light Crude (KSLC), has an API gravity of 47 and a sulphur content of 1.6 per cent.

Kuwait, the fifth largest producer in the Organisation of Petroleum Exporting Countries, increased its oil exports to Asia by launching the grade in the middle of this year.



It set the price for KSLC at $2.30 a barrel above Oman-Dubai quotes for October and at a premium of $3.05 a barrel for November, a source with knowledge of the matter said.

Keywords:
Category Business | 2018/11/08 latest update at 10:20 PM
Source : Gulf Times | Photocredit : Google
346 Views
Comments Add comment



Related Articles

The editorial staff of Kuwait Media would like to give all of its readers from Gulf and Kuwait and the whole world the opportunity to participate actively in the development of the website! If you have something interesting, fun, scandalous - just something worth to be seen from more people. Capture it and share it in the Kuwait Today with a short text.

Do you have information you want to reach our readers?

Send article/s

You can subscribe to our Facebook, Twitter and Google pages or use our RSS feed channel to always read the most important news about Kuwait, the Gulf and the world.


Kuwait’s steady hand in Gulf affairs Emir

Kuwait’s steady hand in Gulf affairs

When Russian Foreign Minister Sergey Lavrov arrived in Kuwait March 5 for talks on the Gulf and the region, it was…

Armenia new ambassador hands credentials to Emir of Kuwait Emir

Armenia new ambassador hands credentials to Emir of Kuwait

Armenia’s new Ambassador Sarmen Baghdasaryan presented his credentials to the Emir of Kuwait, Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah.…

Saudi King Sends Message to Kuwait Emir Emir

Saudi King Sends Message to Kuwait Emir

Custodian of the Two Holy Mosques King Salman bin Abdulaziz sent on Tuesday an oral message to Kuwaiti…

Emir Of Kuwait Honours Ministry Of Human Resources And Emiratisation Emir

Emir Of Kuwait Honours Ministry Of Human Resources And Emiratisation

Sheikh Sabah Al Ahmad Al Jaber Al Sabah, Emir of Kuwait, honoured the UAE Ministry of Human Resources and Emiratisation for…

GULF TV

Popular in GULF TV

Kuwait city new bilding

1047 Views

Kuwait city new bilding

Latest videos in GULF TV

167 Views

Kuwait Video

Technology

Kuwait lifestyle and lifestyle Kuwait news

Lifestyle

Kuwait lifestyle and lifestyle Kuwait news

Culture

Culture news and Kuwait culture news

Sport

Sport news from Kuwait and world sport news

Events

Kuwait Events and Events News

Government

Kuwait government News

Emir

News from the Emir of Kuwait