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

& Events

His Excellency the Minister of Oil heads the Kuwaiti delegation to the "OPEC +" meetings


His Excellency the Minister of Oil and Minister of Higher Education, Dr. Mohammed Abdullatif AlFares, heads the Kuwaiti delegation participating in the 27th meeting of the Joint Ministerial Committee for Production Control (JMMC), scheduled for Wednesday, March 3, 2021, as well as the fourteenth ministerial meeting of the Organization of Petroleum Exporting Countries and producing countries outside OPEC (OPEC +), to be held on Thursday, March 4, 2021, through video communication technology. Alfares will participate with the Governor of the State of Kuwait to OPEC, Mr. Haitham Al-Ghais, and the national representative of the State of Kuwait to OPEC, Mr. Muhammad Al-Shatti. Prior to his participation in the meeting, according to a press release issued by the Ministry of Oil, Minister Alfares expressed his optimism about the monthly meeting of "OPEC +", after the positive performance of the oil markets and their stability in light of the consensus climate between the countries participating in the agreement, and praised the continuation of joint efforts and constructive cooperation to ensure stability and balance. During the next stage, especially in light of the holding of the Ministerial Conference on a monthly basis, which allows for speed and high flexibility to determine the necessary levels of production according to the recovery of global demand for oil. AlFares stressed that the recent OPEC + decisions contributed to supporting the markets and favored the gradual recovery of the global economy, which encouraged the investment climate and recovery in industry activity and the return to normal life, and is in line with optimism and hopes about the spread of the Corona vaccine (Covid-19) and its impact. On the global economic recovery. AlFares stressed that the State of Kuwait plays an active role in encouraging coordination between producing countries and supporting understanding to ensure the continued success of this historic agreement that achieves stability in oil markets.

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Ministry of Oil Building - Oil Sector - Third Floor
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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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