Kuwaiti Oil Barrel Price119.24 Date:18-05-2022

News
& Events

Energy Agency: Global for oil dropped with the return of the outbreak of (Covid19)

12-11-2020

On Thursday, the International Energy Agency reduced its forecast for the growth of global demand for oil this year due to the resurgence of the outbreak of the (Covid19) in Europe and the united state at the same time, also it is likely that next year will witness a modest recovery. The Agency said in the Oil Market Report that there is a possibility that the demand for oil this year will reach 91.3 million barrels per day which represents a decrease of about 8.8 million barrels compared to 2019, also, it is less than 400,000 barrels per day than last month’s expectations. It added that demand is expected to recover next year by 5.8 million to reach 97.1 million barrels. The agency indicated that this recovery would put global demand at the level of 3 million barrels per day which is lower than its level before the pandemic specially since the oil prices had recovered earlier due to the rumors about the possibility of a vaccine for the virus. The report indicated that vaccines are not likely to boost demand significantly until next year, noting that global oil supply increased by 200,000 barrels per day to reach 91.2 million barrels during the past month and the production levels from countries participating in the Organization of Exporting Countries agreement Oil (OPEC) and its allies have been largely static. The report indicated that the compliance rate reached 103 percent by (OPEC) and its partners and it is likely that global oil supplies will rise in November, in light of Libya and the United States increasing their production.

Ministry
of Oil Tender
Announcement

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

Ministry of Oil Announcement of Tender Tender No. 1/22021-2022

The Ministry of Oil announces the launch of the following tender Maintenance of servers for virtual servers USB Blade Servers and the Dell Tape library" This is in accordance with the general and specific conditions and specifications contained in the tender documents mentioned above. The tender documents can be obtained from the Ministry of Oil - Third Floor - Financial Affairs Department - Fund Department during official working hours starting from Sunday 16/1/2022 AD, for an amount of 75 d. K. (Seventy-five Kuwaiti Dinars) is not refundable, and the deadline for submitting bids is on Thursday, 27/1/2022 AD at 2:00 pm, 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.

The Ministry of Oil announces the launch of a general practice

The Ministry of Oil announces the launch of a general practice (license renewal and technical support for the PALOALTO FIREWALL program) For inquiries, please visit the Ministry building - the oil sector complex - the third floor - the fund department

The Ministry of Oil announces the launch of a general practice

The Ministry of Oil announces the launch of a general practice (license renewal and technical support for the CORTEX-XDR program) For inquiries, please visit the Ministry building - the oil sector complex - the third floor - the fund department

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