The Ministry of Oil stated that the sixteenth meeting of the Committee of Petroleum Media Specialists in the Gulf Cooperation Council Member States which was held at the headquarters of the Secretariat General in Riyadh established a group of recommendations, the most prominent of which was enhancing media communication on the Gulf level.
The Organization of Arab Petroleum Exporting Countries (OAPEC) ministerial council has re-elected OAPEC Secretary-General Abbas Ali Al-Naqi of Kuwait for another three-year term beginning as of March 2014.
Kuwait has promising petroleum and gas discoveries that will increase its production and reserves according to the strategy of Kuwait Petroleum Corporation (KPC) 2030, said Kuwait's Deputy Prime Minister and Minister of Oil Mustafa Al-Shimali.
The Deputy Prime Minister and Minister of Oil Mostapha Jasem Al Shemaly declared today that the shale gas revolution was given importance more than it deserves, confirming that it will not affect the market significantly considering the increase of demand and lack of countries producing oil.
Sheikh Talal Nasser Al-Athbi Al-Sabah, the Oil Ministry Assistant Undersecretary for Financial and Administrative Affairs, affirmed on Saturday the State of Kuwait keenness on boosting pan-Arab cooperation in the oil sector.
The undersecretary of the Ministry of Oil for Financial and Administrative Affairs and member of the Board of Directors of Arab Petroleum Investment Corporation (APICORP) Sheikh Talal Nasser Al Azbi Al Sabah estimated the company’s capital and assets by 5.5 Billion Dollars.
The CEO and General Manager of the Arab Petroleum Investments Company (APICORP), Ahmed Bin Hamad Al Nuaimi, indicated that the ambitious plans of the State of Kuwait to become the oil and gas capital of the world match in many aspects with the objectives and strategies of the company.
The Assistant Undersecretary of the Oil Ministry for Economic Affairs and the Governor of Kuwait in the Organization of Petroleum Exporting Countries (OPEC), Nawal Al Fzeih said that oil prices will not fall below $ 100 over the next year.
President of the 164th Conference of the Organization of the Petroleum Exporting Countries (OPEC) and Kuwaiti Deputy Premier and Minister of Oil Mustafa Al-Shimali welcomed Wednesday the conference decision to maintain oil output ceiling.

The Secretary General of OPEC Organization, Dr. Abdullah Al-Badre, affirmed here today that the resolution made by Oil Ministers of OPEC regarding the maintenance of the current production limit in the value of 30 million barrels a day is in conformity with the progress of the global market as well as in harmony with the oil offer and demand equation.

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