Kuwait signs $385 mn solar energy project

Last Updated: Thursday, September 10, 2015, 17:35

Kuwait signed a contract worth 116 million dinars ($385 million) with Spain`s TSK Group on Thursday for a 50 megawatt solar energy project as part of its renewable energy drive.

Talks with Kuwait's PIC remain inconclusive: ONGC

Last Updated: Thursday, July 30, 2015, 17:05

State-owned Oil and Natural Gas Corp on Thursday said the talks to sell stake in long-delayed mega petrochemical plant at Dahej in Gujarat to Kuwait's Petrochemical Industries Company (PIC) remain inconclusive.

Air India to dry lease 14 Airbus A320 planes from Kuwait

Last Updated: Sunday, June 14, 2015, 17:09

National carrier Air India would dry lease 14 Airbus A320 planes from a Kuwaiti lessor as it seeks to replace its ageing narrow-body fleet with new fuel efficient planes.

Oil falls more than $1 as Middle East supply fears ease

Last Updated: Friday, March 27, 2015, 16:53

Oil prices fell more than $1 a barrel on Friday as worries receded over the threat of disruptions to Middle East supplies due to Saudi Arabia-led air strikes in Yemen.

Oil falls to $55 as Kuwait comments refocus on oversupply

Last Updated: Thursday, March 19, 2015, 17:46

Brent had rallied by more than $2 a barrel on Wednesday after the Federal Reserve indicated it would raise U.S. interest rates slower than previously thought, overshadowing data showing U.S. crude stocks at a record level.

Oil falls to $55 as Kuwait comments refocus on oversupply

Last Updated: Thursday, March 19, 2015, 15:59

Brent crude oil fell back to USD 55 a barrel on Thursday after Kuwait said OPEC had no choice but to keep production steady, refocusing the market on global oversupply as the dollar recovered from sharp losses in the previous session.

OPEC has no option but to keep output ceiling: Kuwait

Last Updated: Thursday, March 19, 2015, 15:54

OPEC members have no choice but to maintain current production levels despite falling oil prices in order to preserve their market share, Kuwait`s oil minister said on Thursday.

Gulf Arab allies pledge $12 billion to Egypt at summit

Last Updated: Saturday, March 14, 2015, 02:17

Gulf Arab allies pledged a further USD 12 billion of investments and central bank deposits for Egypt at an international summit on Friday, a big boost to President Abdel Fattah al-Sisi as he tries to reform the economy after years of political upheaval.

Oil price likely to stabilise at $50-60: Kuwait

Last Updated: Sunday, March 8, 2015, 14:21

World crude prices are expected to gain this year or at least stabilise at between USD 50 and USD 60 a barrel, Kuwaiti Oil Minister Ali al-Omair was quoted as saying.

Kuwait projects $24 bn deficit despite spending cuts

Last Updated: Monday, January 26, 2015, 20:17

Kuwait on Monday projected a $24-billion deficit in its new fiscal year budget despite a massive spending cut due to plunging oil prices.

Kuwait to splash $100 bn on oil projects

Last Updated: Wednesday, January 21, 2015, 22:46

OPEC member Kuwait plans to spend about $100 billion in the next five years on oil projects to modernise the vital sector, the emirate`s oil minister said Wednesday.

Gulf shares dive on oil, global stocks rout

Last Updated: Tuesday, January 6, 2015, 22:42

Stock markets in the energy-rich Gulf states nosedived on Tuesday as oil prices slumped and global markets were dragged down by a gloomy outlook for crude.