25Mar 2019
Monday

New Gas Station increases output by 250 mln cubic feet, says Minister

Updated : Sunday, 04 February 2018, 10:31:12 AM
The new oil company will serve the dearth of resources in the Kuwait City, said Al-Rashidi who doubles as Minister of Electricity and Water.
Vinila Elizabeth Varghese
By Vinila Elizabeth Varghese
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Kuwait City(IAMINKUWAIT), Feb 4: A new oil company in Kuwait is set to increase production by 250 mln cubic feet and will churn out 68,000 barrels of gas condensate, says Kuwait’s Minister of Oil Bkheet Al-Rashid.

The new oil company will serve the dearth of resources in the Kuwait City, said Al-Rashidi who doubles as Minister of Electricity and Water.The minister also said that Kuwait currently produces around a billion and a half cubic feet of gas per day and their goal is to push that figure higher to four billion cubic feet per day.

He said that they wish to increase the oil production of Kuwait by 4. 750 million barrels by 2040 and presently the production is at 2.7 million barrels when they have the capacity to produce 3 million barrels.

The minister added the oil sectors plans to have an all-national work force soon, saying that the new work force station is cent percent Kuwait made. He informed also the ongoing negotiations with Iraq over Kuwait’s plans to import gas from its Gulf neighbour.

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Kuwait gold daily market price in global currencies
CommodityUnitPrice(KWD)Price(USD)Price(INR)Change%
Gold1 Ounce 397.741311.2190294.54 -0.19%
Gold1 Tolas 149.15491.733859.88 -0.19%
Gold 18K1 Gram 9.5931.612177.11 -0.21%
Gold 21K1 Gram 11.1936.892540.34 -0.18%
Gold 22K1 Gram 11.7238.642660.66 -0.17%
Gold 24K1 Gram 12.7942.162903.57 -0.16%
Silver1 Kilogram 150.24495.2934107.33 -0.25%
Silver1 Ounce 4.6715.41060.18 -0.21%
Silver1 Gram 0.150.4934.05 0%