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

& Events

His Excellency the Minister of Oil participates in the meeting of the Ministerial Committee (26) to monitor production


His Excellency the Minister of Oil and Minister of Electricity and Water Dr. Mohammed Abdullatif Alfares will participate in the meeting of the Joint Ministerial Committee for Production Control (JMMC), which will be held today, Wednesday, February 3, 2021, through video communication technology. Minister Alfares said, prior to his participation in the meeting, according to a press release issued by the Ministry of Oil, that the strategy of (OPEC +) and the unprecedented commitment to reduce production in addition to the voluntary reduction made by the sisterly Kingdom of Saudi Arabia during the current and next months of one million barrels per day greatly supported the oil market. And this despite the negative repercussions of the Corona pandemic on global consumption rates. He mentioned that global oil markets are going through a corrective phase as a result of the historic OPEC + decisions, which reflected positively on re-balancing the oil markets. Alfares stressed that the State of Kuwait supports all OPEC + decisions aimed at restoring balance to the oil market and adjusting the balance of supply and demand, as the State of Kuwait supports collective action through consensus between countries within OPEC as well as joint cooperation through the OPEC + framework. Kuwait’s delegation to the meeting, in addition to Minister Alfares, includes both the Governor of the State of Kuwait to (OPEC) Haitham Al-Ghais and the national representative of the State of Kuwait to (OPEC) Mohammed Al-Shatti.

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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