13Nov 2018
Tuesday

Kuwait marks first light crude export with lavish ceremony

Updated : Thursday, 08 November 2018, 01:00:57 PM
Rasheedi: Oil sector has notched up another milestone achievement
Editorial Staff
By Editorial Staff
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KUWAIT CITY(IAMINKUWAIT):  Under the auspices of HH the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah, Kuwait yesterday held a ceremony to promulgate the state’s first shipment of light crude oil. Upon his arrival at the ceremony, HH the Amir was warmly welcomed by Minister of Oil and Electricity and Water Bakheet Al-Rasheedi, along with senior officials in the oil sector. HH the Prime Minister Sheikh Jaber Al-Mubarak Al-Hamad Al-Sabah and National Assembly Speaker Marzouq Al-Ghanem were also among the attendees.

Rasheedi said the oil sector has notched up another milestone achievement with the shipment of its first light crude oil cargo. Addressing HH the Amir, Rasheedi attributed the achievement to the efforts of the oil sector’s workforce. He hailed the export as a launch pad for greater oil production, which will serve to reinforce Kuwait’s position as an oil and gas powerhouse, fitting into national plans to build a stronger economy.

In his speech, Kuwait Oil Company CEO Jamal Jaafar said developing the country’s Jurassic reservoirs to help meet soaring domestic gas demand is among the company’s top priorities. Kuwait’s first shipment of light crude oil did not come without a struggle on the company’s part, he explained, saying that the workers in the oil sector were determined bring their goals to fruition, helping drive the national economy to new heights. Kuwait stands at the cusp of a new era in oil and gas production, he said, wishing the country continuing growth and development. 

Courtesy  :  Kuwait Times

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CommodityUnitPrice(KWD)Price(USD)Price(INR)Change%
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Gold1 Ounce 366.081203.6687571.46 -0.62%
Gold 18K1 Gram 8.8329.032112.26 -0.56%
Gold 21K1 Gram 10.333.872463.9 -0.58%
Gold 22K1 Gram 10.7935.482581.12 -0.64%
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Silver1 Gram 0.140.4633.49 0%
Silver1 Kilogram 137.41451.832870.4 -0.99%
Silver1 Ounce 4.2714.041021.44 -1.16%