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

& Events

The Deputy His Excellency the Ministry of Oil on the founding of OPEC’s 60th anniversary


On the 60th anniversary of the Organization of Petroleum Exporting (OPEC) Founding, Kuwait was a major and active role within the organization to restore balance stability to the global oil market which was a huge appreciation from OPEC and non-OPEC countries. Kuwait was one of the first five countries to establish the Organization of Petroleum Exporting Countries (OPEC) on September 14th,1960. Over the past years, it gained a leading voice that protects the interests of producers and consumers alike and it unites oil policies among member states with the aim of keeping the prices with a sharp osciliation thus supporting global economic growth. OPEC has proved to be the reliable source supplying the entire world with oil which was a pivotal role in maintaining price stability and has always proved to be the dominant player in the world oil markets with sufficient productive flexibility to control price fluctuations and will continue to play this vital and important role in the coming decades.

of Oil Tender

Ministry of Oil Building - Oil Sector - Third Floor
Finance Department

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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