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Kuwait holds a gas deal with Iraq and supply desalination plants

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Kuwait holds a gas deal with Iraq and supply desalination plants

Post by RamblerNash on Wed Aug 01, 2018 11:01 am

Kuwait holds a gas deal with Iraq and supply desalination plants

Twilight News

one hour ago

Kuwait Oil Minister Bukhit al-Rashidi said on Wednesday that the world oil market is nearing stability based on the current production levels of crude, following the recent agreement between OPEC and independent producers to increase production.

"It is clear from current levels of production that we are reaching a very stable stage for the oil markets, whether for producers or consumers," he told reporters during a tour of the southern power plant.

He added that Kuwait's current production of crude is 2.8 million barrels per day, as agreed at the last meeting in Vienna.

The next meeting of the OPEC-OPEC independent producers' committee, scheduled for September 22-23, will review oil production levels after agreeing to increase production in Vienna, the minister said.

OPEC and other producers, led by Russia in June, agreed to increase production to cool the oil market.

Asked about the possible closure of the Strait of Hormuz, Rashidi said the Gulf states had ready plans for emergency implementation.

He also expressed great optimism that the return of crude production from the neutral zone with Saudi Arabia very soon.

The Kuwaiti minister expected to reach an agreement on the import of gas from Iraq before the end of this year.

Al-Rashidi, who is also the minister of electricity and water, said his country would send four desalination plants to Iraq with a total capacity of 1 million gallons per day.

Kuwait sent 17 generators and 18,000 tons of diesel to Iraq to overcome Iraq's electricity problem, al-Rashidi said.


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