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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.

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Qatari Minister of Energy: the price of oil for the state's new balance in principle is $ 55 a barrel
04/02/2010
Deputy Prime Minister and Minister of Energy and Industry Abdullah Al-Attiyah said in his statement recently published by the website of the Middle East Economic News  details...

Latest News
Aramco and Sumitomo complete plans for the construction of "Petro Rabigh 2" by the end of 2010
04/02/2010
Saudi Aramco and Sumitomo Chemical, the two oil and petrochemical giants in the world and the biggest allies in the region in the possession of the largest chemical details...
Emirati Oil Minister: Current oil prices are reasonable
04/02/2010
Emirati Oil Minister Mohammed Al-Hamli told reporters to Reuters that the current oil prices are reasonable. Al- details...
Iraqi Oil Minister: the balance of the global market has prevented a third licensing round
04/02/2010
Iraqi Oil Minister Hussein Al-Shahristani said on Thursday to Kuwait News Agency (KUNA) reported that Iraq desires to maintain the balance of the global market and stabilize details...
Average oil price $ 77.50 a barrel in 2010
04/02/2010
A survey conducted by the Reuters news agency showed that the average crude oil price is expected rise to 77.50 U.S. dollars per barrel in 2010, but analysts said high  details...
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...
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...
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