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

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Minister Al-Fares participates in the ministerial dialogue symposium at ADIPEC 2021 exhibition and conference


Participants in a panel discussion on the new world of energy, on the sidelines of their participation in the opening of the Abu Dhabi International Petroleum Conference and Exhibition (ADIPEC 2021) today, Monday, affirmed that the market atmosphere is optimistic during the next year, indicating that the future of energy is promising in the coming year, especially after recovering from a pandemic ( Corona). The panel discussion was attended by Kuwaiti Minister of Oil and Minister of Higher Education Dr. Muhammad Al-Faris, UAE Minister of Energy and Infrastructure Suhail Al-Mazrouei, Nigerian OPEC Secretary-General Muhammad Barkindo, Omani Oil and Gas Minister Muhammad Al-Ramahi and Guinean Energy Minister Gabriel Lima. They stressed the importance of (OPEC +) in achieving market balance by setting up a clear mechanism that takes into account the expectations of 2022. They drew attention to the role of producers in continuing to invest to raise production capacity and ensure adequate supplies for the market, as well as investing in clean energies and their production and reducing emissions, stressing the need to advance peoples and improve their living standards. Regarding the call to stop investing in fossil fuels, the participants said that this is not in the interest of stabilizing markets, especially in light of expectations of high demand for fossil fuels. They pointed out that developing countries, including Africa, need to invest in raising their production of oil and gas to ensure the upgrading of living standards and the economy. Al-Fares' participation in the seminar comes within the activities of the conference, which will continue until the 18th of November in Abu Dhabi, and is a week of major milestones in the oil and gas industry. ADIPEC 2021 will be held under the patronage of UAE President Sheikh Khalifa bin Zayed Al Nahyan, who deputized for him at the opening ceremony, Deputy Prime Minister and Minister of Presidential Affairs Sheikh Mansour bin Zayed Al Nahyan, with the participation of more than 30 ministers from different countries, heads of oil companies and specialists. Al-Fares headed the participating Kuwaiti delegation, which includes the CEO of the Kuwait Petroleum Corporation, Hashem Sayed Hashem, and the Governor of Kuwait at (OPEC) Muhammad Al-Shatti.

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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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