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Shell and Vitol to Supply LNG to Kuwait


Kuwait : 29 April

It was announced that both Shell and Vitol Group have signed 4 year contract to supply Kuwait with shipments of LNG which the region needs to fuel their power generators during the months of summer.

Both LNG suppliers will deliver a couple of shipments a month from April to October KPC’s international marketing manager has just recently confirmed at a Kuwait conference.

Shell is going to supply at least two cargoes in May with a possibility of a third and Vitol is contracted for at least one with the option of possibly supplying a second. These orders were verified at a recent conference although the prices to be paid for the LNG shipments were not disclosed and the only comment made in relation to cost is that it will be calculated according to delivery criteria.

Kuwait has just started receiving LNG shipments and now plans to use half a billion cubic feet of gas per day over the next six months. All this LNG is going to be used to fire its power stations according to a statement just made by Kuwait Petroleum on April the 22nd.

Excelerate Energy is currently supplying the vessel on which the Liquefied Natural Gas is being reheated to re-gasify it from its frozen liquid state and they have also successfully supplied the initial two cargoes. It has also been suggested that many other Gulf states are now also considering LNG for their expanding power and industrial fuel requirements.

Andrew Reid, Staff Writer, Gulf Jobs Market News
28 April

Kuwait to Increase Gas Production by 300%

An executive at the Kuwait Oil Company has just stated that the company is planning to increase their gas production to 4 billion cfd by 2030. At present Kuwait is heavily dependent on the burning of oil to sustain its activities and has to date not utilized its large natural gas deposits. A new strategy [...]

28 April

Saudi Aramco Plan to Increase its Refining Volume

Saudi Arabia is currently in the process of building three new oil refineries in the region largely in an effort to offset any future shortfall in the regions oil demand for its domestic market.
In a recent speech on their website Khalid al Falih who is the Chief Executive Officer of Saudi Aramco (the regions biggest [...]

27 April

Saudi Basic Industries Corp Exceeds Expected Profit Levels

Saudi Basics Industries Corp is the biggest petrochemical conglomerate in the world and they have just broken records concerning analyst predictions for their overall profits this year. Their profits are also expected to increase further during the course of this year.
The company is already anticipating that this year higher steel prices and new petrochemical units [...]

26 April

No. of Oil and Gas, IT and Healthcare Jobs Tipped to Grow Fastest

In an affirmation of last weeks news about Dubai’s re-emergence from the darkness, a number of Gulf recruiters have highlighted key industry sectors likely to see significant growth in the region.
In interviews with Emirates Business 24-7, 4 major recruitment agencies in the Gulf identified the hot sectors for 2010, using anecdotal evidence based on a [...]

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