Kuwaiti Oil Barrel Price76.30 Date:08-12-2022

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The Secretary-General of OPEC praises the role of His Highness the late Amir in concluding the cooperation agreement between producers

16-10-2020

The Secretary General of the Organization of the Petroleum exporting countries (OPEC) Muhammad Barkindo has confirmed that the late Amir of the country his highness Shiekh Sabah Al-Ahmad Al-Jaber Al-Sabah may rest in peace played a big role by breaking the deadlock and paving the way for the Declaration of cooperation fertile between producers from in and outside the organization on December 10,2016. Barkindo said in his at the 46 meeting of the Joint Technical committee of producers that the attention and dedication of the late Amir with his keen interest on ensuring the stability of the oil market and his diplomacy for the conclusion of a cooperation agreement between producers, which helped stop the deterioration prices, restore and rebalance the market. The Joint Technical committee held its 45 meeting through via video conference in preparation for the Joint Ministerial committee on monitoring the production reduction agreement meeting which is scheduled for October 19. The OPEC Information Department mentioned in a statement that the committees were authorized to review the conditions and purposes of the global oil market and monitor the confidence level within the voluntary production adjustments which was approved by the Ministerial meeting producers from in and outside the OPEC. The Secretary General of OPEC noted since the outbreak of Covid-19 over six months ago, we have worked side by side to face market crisis in history. Also, it was mentioned that the serious challenges were posed by this pandemic to challenge all of us, by pointing the emergence of a second wave of the disease which has indeed compounded human tragedy and uncertain economic. The OPEC’s monthly report has explained that the oil market expected the global domestic product to drop about 4 percent this year and rise again about 6.4 percent in 2021. Also, it was explained that the outlook for the oil demand for 2020 which remains over 90 million barrels a day 10 percent to drop this year. Barkindo has reviewed the long-term outlook for the oil market, noting that the OPEC annual report which was released last Thursday sees the global energy demand rising and continuing to grow by a 25 percent dramatic increase over the next 25 years. The oil is expected to hold the largest energy mix for 28 percent in 2045. The Secretary General was concluded by noting the worst of the current crisis may be over, however history has taught us that our need for cooperation has no end by achieving more sustainable and resilient energy system for all.

Ministry
of Oil Tender
Announcement

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

Oil Ministry Advertisement for exercise No. 4/ 2022-2023 (Providing internet service and communication transmission lines for a period of three years)

Oil Ministry Advertisement for exercise No. 4/ 2022-2023 (Providing internet service and communication transmission lines for a period of three years) 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 the Ministry of Oil - Third Floor - Financial Affairs Department - Fund Department During official working hours starting from Sunday 10/30/2022 This is for an amount of 75 dinars (seventy-five Kuwaiti Dinar) Non-refundable, and the deadline for submitting bids is Thursday 10/11/2022 At 2:00 p.m This is in the Practices Fund of the Ministry of Oil, and the bids are valid for a period of 90 days from the date of opening the bid envelopes, and the initial guarantee for this bid is 2% and it should be valid for the duration of the bid’s validity, knowing that the bid is indivisible.

The Ministry of Oil announces the launch of a general practice (Renewal of license and technical support for CORTEX-XD program for the fiscal year 2022-2023)

The Ministry of Oil announces the launch of a general practice (Renewal of license and technical support for CORTEX-XD program for the fiscal year 2022-2023) For inquiries, please visit the Ministry of Oil Building - Oil Sector Complex - Third Floor - Fund Section Oil Ministry Advertisement for exercise Tender No. 3/ 2022-2023 The Ministry of Oil announces the introduction of the following practice: (Renewal of license and technical support for CORTEX-XD program for the fiscal year 2022-2023) This is in accordance with the general and special conditions and specifications contained in the above-mentioned practice documents. The practice documents can be obtained from the Ministry of Oil - Third Floor - Financial Affairs Department - Fund Department during official working hours starting from Sunday 10/30/2022 This is for an amount of 75 dinars (Seventy-five Kuwaiti Dinars) are not refundable, and the deadline for submitting bids is Thursday 10/11/2022 At 2:00 in the afternoon This is in the practices fund of the Ministry of Oil. Bids are valid for a period of 90 days from the date of opening bid envelopes. The initial guarantee for this bid is 2%, and it should be valid for the duration of the bid’s validity, bearing in mind that the bid is indivisible.

Oil Ministry Announcement of Exercise No. 2023/5-2023 The Ministry of Oil announces the launch of an internal practice

Oil Ministry Announcement of Exercise No. 2023/5-2023 The Ministry of Oil announces the launch of an internal practice License renewal and technical support for Paloalto firewall This is in accordance with the general and special conditions and specifications contained in the above-mentioned practice documents. The practice documents can be obtained from the Ministry of Oil - Third Floor - Financial Affairs Department - Fund Department during official working hours starting from Sunday 10/30/2022 for an amount of 75 dinars (five Seventy Kuwaiti dinars are non-refundable, and the deadline for submitting bids is on Thursday 11/10/2022 at 2:00 pm, in the Practice Fund of the Ministry of Oil. The initial guarantee for this bid is 2%, and it should be valid for the duration of the bid’s validity, bearing in mind that the practice is indivisible

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