Page 11 - MEOG Week 11 2022

MEOG NEWS IN BRIEF MEOG

POLICY He noted that His Highness the Amir’s supplies to the world market, agency experts
unprecedented directives of initiating national stressed.
Kuwait says it can achieve dialogue between the two authorities paved The eighth round of Vienna talks is still
the way for further collaboration and created a continuing although a pause in the talks was
2035 vision positive atmosphere for more development, announced by the EU coordinator of the talks
foreign policy chief Josep Borrell.
ARAB TIMES
Kuwaiti Deputy Prime Minister and Minister The Iranian foreign minister ruled out the
of Oil, Electricity, Water and Renewable speculations were hindering the talks after
Energy Dr. Mohammad Al-Fares affirmed COMPANIES a visit to Moscow yesterday. Hossein Amir-
Wednesday that Kuwait has all necessary Abdollhian tweeted yesterday after the visit
components to achieve its aspirations for KPC appoints new CEO that he was “reassured that Russia remains
Kuwait’s 2035 vision under the directives of onboard for the final agreement in Vienna.”
His Highness the Amir Sheikh Nawaf Al- The Kuwaiti cabinet approved on Monday The top Iranian diplomat further said that
Ahmad Al-Jaber Al-Sabah. appointing Nawaf Saud al-Sabah as CEO for the ball is now in the US’s court more than
This came in a visual presentation given by Kuwait Petroleum Corporation, state news over to provide the responses needed for a
Minister Al-Fares to the National Assembly agency KUNA reported. successful conclusion of the talks.
during its complementary session. The decision included the formation of a MEHR NEWS
He explained that Kuwait’s developmental new board of directors for the state-owned
journey is challenged by great obstacles, company. Japan to sell 1.89mn barrels
illustrating that this calls for comprehensive REUTERS
reformative action and a national strategy of Hout crude from reserve
to ensure sustained development. It also
requires a sense of awareness, responsibility OIL Japan plans to sell an additional 300,000
and cooperation between the legislative and kiloliters, or 1.89 million barrels, of Hout
executive authorities. Iran can increase oil crude from its national petroleum reserves
Dr. Al-Fares delved into the challenges via a public tender in April, the Ministry of
posed by the Coronavirus pandemic exports by 1mn bpd in six Economy, Trade and Industry said March 16,
proposed, slow economic recovery and the last sale in its joint efforts with the US and
fluctuation in oil prices, which have all taken months other countries to stabilize oil prices.
their toll on the national economy. In its latest tender scheduled April 8, Japan
The Minister of Oil illustrated that the Iran’s oil exports could rise by 1 million will offer up to three shipments of Hout crude
government work plan is comprised of four barrels per day within six months if sanctions from the Shirashima national oil reserves
main axes, the first relates to economic are lifted from the country, according to a terminal in Kita Kyushu City in the southwest
recovery, the second revolves around March report from the International Energy for delivery over May 20-Aug. 31, METI said.
reshaping the public sector, whereas the Agency (IEA). Following the upcoming sale of Hout crude
third concerns the development of human However, the IEA believes that it may take produced in the Saudi Arabia-Kuwait Neutral
capital and the fourth relates to improving months before additional volumes of oil from Zone, Japan’s crude sales from the national oil
the infrastructure and employing the use of Iran appear on the market, as negotiations reserves would amount to a total of around
renewable energy. on the Iranian nuclear deal stalled before the 660,000 kiloliters, or 4.15 million barrels.
A number of executive initiatives with set “finish line”, the Russian TASS news agency Japan on March 9 sold 260,000 kiloliters,
timetables, objectives and indicators that are reported. or 1.64 million barrels, of Khafji and Hout
periodically monitored, are planned for each Besides OPEC+ countries, United States, crudes produced in the Neutral Zone from
of the four axes, Minister Al-Fares added. Canada, Brazil and Guyana can also increase its national petroleum reserves via public

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