Kuwaiti Oil Barrel Price101.45 Date:08-08-2022

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Kuwait’s Governor in OPEC: Forearms of Kuwait who worked for the organization for 60 years helped create its prominent position


Haitham Al-Ghais the Governor of Kuwait in the Organization of Petroleum Exporting Countries (OPEC) said that there have been efforts and assistance from Kuwait over the past 60 years in OPEC since its inception, which contributed the creation of the organization’s important position to make it a big mark on the global oil markets. Al-Ghais added in a statement to the Kuwait News Agency (KUNA) on the 60th anniversary of the establishment of OPEC which was on Monday. However, he said that the role organization is well known and Kuwait is one of the countries that was found in OPEC in 1960 also by noting the role of successive committees and councils that organized the work of this organization. Although, it was mentioned that OPEC is managed by the first two chambers of the Board Governors of Kuwait to OPEC. Also, it was cleared that the Board Governs mainly organizes and manages the work while the second board manages the economic council. It also appreciates the representative role of Kuwait in the Economic Council of OPEC over the past 60 years. Also, it was clear that the Economic Council conducts all the economic studies of the organization and the several committees that OPEC that has passed through over the past 60 years by noting the production control committees. It is tasked with preparing for the ministerial meetings in which it takes all organization’s historic decisions that have had an impact on the course of oil markets over the past years. It was cleared that the Economic Council all the economics studies of the organization and several committees that OPEC has passed over the 60 years. It is tasked with the preparation for the Ministerial meeting in the role of the State Officials which was led by Dr. Khaled Al-Fadel the Minister of Oil and Acting Minister of Electricity and Water by supporting the Kuwaiti employees and the officials at the Ministry of Oil, the Kuwait Petroleum Corporation its subsidiaries and the unlimited support of the senior management in the oil sector for Kuwait’s efforts in the organization. He praised the role of the Kuwaiti employees who worked and work for OPEC to represent the State of Kuwait and to those who held important executive positions and important departments in the organization. They enriched the organization with their experience and efforts with a clear mark. He mentioned that the soldiers were unknown who were invisible to the public but we must thank them for because they are ambassadors by representing the state of Kuwait in the best possible way in this important organization especially at this important level in the oil market.

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Announcement of Exercise No.1/2022-2023

Oil Ministry Announcement of Exercise No. 2023/1-2023 The Ministry of Oil announces the offering of an internal practice for a period of 3 years, which is: Internet service provision This is in accordance with the general and specific conditions and specifications contained in the above-mentioned practice documents. The practice documents can be obtained from (Ministry of Oil - Third Floor - Financial Affairs Department - Fund Department) during official working hours starting from Sunday 26/6/2022 AD, for an amount The amount of 75 Kuwaiti Dinars (seventy-five Kuwaiti Dinars) is not refundable, and the deadline for submitting bids is on Thursday 7/7/2022 AD at 2:00 pm, in the Practices Fund of the Ministry of Oil, and the bids are valid for a period of 90 days as of From the date of opening the bid envelopes, the value of the initial guarantee for this bid is 2%, and it should be valid for the duration of the bid Bid validity period, noting that the exercise is indivisible.

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