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Sheikh Ahmed Al Jaber Al Sabah granted Kuwait Oil Limited Company with the participation of Protol British Company "BP" and American Oil Gulf Company "Gulf Oil" the right of franchise of concessionaire to explore oil in all Kuwait lands and territorial water for 75 year period and this was on 23rd December 1934. However, when the first oil field is discovered in the State of Kuwait in 1933 and specifically at Burgan Area and then, discovery is continued. First shipment of oil was exported in 1946.

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Al-Shemali: Kuwait will budget 2010-2011 on the basis of $ 43 a barrel
03/02/2010
Kuwaiti Finance Ministerm Mustafa Al-Shamali, told Reuters on Monday that Kuwait would calculate its budget for fiscal year 2010-2011 on the basis of an oil price of 43  details...

Latest News
Saudi Aramco was mandated the establishment of Jizan refinery soon
03/02/2010
The Minister of Petroleum and Mineral Resources of Saudi Arabia, Ali Naimi, announced recently that Saudi Arabian Oil Company (Saudi Aramco) was appointed to  details...
Bahrain is seeking to import gas from Russian Gazprom
03/02/2010
The Kingdom of Bahrain held talks with Federal Russia on many topics in addition to importing oil and gas investments associated with oil and gas sector details...
Qatar and Petrobras discuss building an oil refinery at a cost of $ 20 billion
03/02/2010
Brazilian Energy Minister Edson Lubawo said that Qatar and oil giant Petrobras can be partners in the completion of an oil refinery in the northeastern Brazilian details...
No effect of cold weather on the demand for oil
03/02/2010
The Organization of Petroleum Exporting Countries (OPEC) said in its report published in Khaleej Times recently that oil inventories are still high enough details...
The current production capacity of Kuwait's crude oil amounts to 3.15 million barrels per day
02/02/2010
The Vice President and Deputy Managing Director for Planning and gas in the Kuwait Oil Company, Mohamed Hussein, told Reuters on Wednesday that the current details...
Custodian of the Two Holy Mosques chairs the Supreme Council for Petroleum and Minerals
02/02/2010
Custodian of the Two Holy Mosques King Abdullah bin Abdulaziz, Chief Minister and Chairman of the Supreme Council for Petroleum and Mineral Affairs Chaired the  details...
Iraq seeks to offset the production of the Russian and Saudi oil
02/02/2010
The Iraqi Oil Ministry granted contracts to exploit and develop oil fields for more than 10 companies and giant financial institutions from around the world so as to  details...
ADGAS of UAE starts new gas supplies in the second quarter
02/02/2010
Senior official at Abu Dhabi Gas Liquefaction Company (PMC) told Reuters on Sunday that the company expects to start production of new marine station on the island of details...
Jordan invites Algeria to work in oil exploration in the Kingdom
02/02/2010
Kuwait News Agency (KUNA) reported that Jordan invited Algeria to provide recent experience in the field of oil exploration and re-zoning exploratory in Saudi Arabia. The  details...
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