Page 12 - DMEA Week 25.pdf

DMEA
neWS In brIef
DMEA
PoLICy
Subsidized diesel approved for farmers
Kuwait Farmers Union Chairman Abdullah Mohammed Al-Dammak congratulated all farmers on the provision of Wafra and Abdaly farms with subsidized diesel.
He thanked His Highness the Prime Minister sheikh Jaber Al-Mubarak Al-sabah, Oil Minister Khaled Al-Fadhel, Kuwait Fire service Directorate’s (KFsD) Director Lt
Gen Khaled Al-Mikrad and Kuwait National Petroleum Company (KNPC) for their endless support and e orts exerted in delivering
the diesel. speaking during a ceremony organized by the union on the occasion, Dammak said that the union’s employees will receive applications from the farmers and nalize the provision cards within two days. Dammak said the union managed to get the subsidized diesel for 70 ls (including labor and transport) per liter instead of the market price of 110 ls.
He added that diesel rations will be determined according to farm’s size, the number of greenhouses and the percentage of agricultural land to the farm area.
Municipal Council member Abdul salam Al-randi inquired about remarks made
by the state Audit Bureau on the executive body’s failure to deal with garbage disposal companies and recycling plants.
randi also inquired if the municipality
has a mechanism to distribute construction debris to various treatment factories for recycling and the procedures followed in such transactions. In other news, and responding to social media reports about spending
KD 18 million to maintain the Municipal Council secretariat’s general building, Kuwait Municipality explained that this sum had been allocated to build the new Municipal Council building and has nothing to do with maintaining the current one.
e Awqaf secretariat General announced starting preparations for the sacri ce project for this year’s hajj and umrah season, cooperating with a number of government and private bodies.
Vice secretary general for endowment Mansour Khaled Al-soqobi stressed that the concerned government and private bodies, including the Zakat House, Kuwait Food Bank, social reform society, Islamic Heritage revival society, Patients Fund, Abdullah Al-Nouri Charity, and the Foreign Ministry are keen on executing the project inside and outside Kuwait.
KUWaIt tImeS
Israel gas price warning for Egypt
CI Capital, an egyptian investment bank, has estimated the cost of buying gas from Israel’s Delek Drilling to be Us$7.5-8 per mmBtu. Domestic production costs around Us$1.75- 3.5 per mmBtu, it said.
Mada Masr quoted analysts as saying the deal to import Israeli gas “does not appear to be in egypt’s economic interest, with the cost to egypt of imported Israeli gas signi cantly higher than locally produced gas”. Prices in egypt have already been going up, rising by around 50% since the government began cutting back support, and this direction is likely to continue.
ComPanIeS
Aramco advances
chemicals strategy with
S-Oil expansion
saudi Aramco is advancing its global chemicals growth strategy with today‘s inauguration of s-Oil’s new residue Upgrading Complex and Ole n Downstream Complex.
e new facilities feature the latest re nery technologies, which have raised s-Oil’s petrochemical portion from 8% to 13% and includes high-value products such as propylne and gasoline.
e inauguration of the complex was celebrated in the presence of His royal Highness Prince Mohammed bin salman Al- saud, Crown Prince, Deputy Prime Minister, Minister of Defense and His excellency Moon Jae-in President of the republic of Korea. Also in attendence were His excellency Khalid Abdulaziz Al Falih, Minister of energy, Industry and Mineral resources, and sung Yunmo, the Minister of Trade, Industry and energy of the republic of Korea.
“Today‘s inauguration marks a historic moment for both s-Oil and saudi Aramco. s-Oil serves as a role model for saudi Aramco’s international downstream strategy and plays an important role by providing the vital energy needed for economic growth in south Korea. ese two new facilities will supply high-value products to major Korean industries, whose global brands are part of our everyday lives and rank among the world’s very best in technology, innovation, creativity, and quality,” said saudi Aramco President and
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Week 25 26•June•2019