Middle East & Africa
Tuesday, 21 May 2013 17:58
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KUWAIT: Around 80 percent of workers at Kuwait's main, state-run oil services company are on strike calling for better pay, a union official said on Tuesday, the latest sign of wage pressures in the Gulf Arab country.The walkout by the workers, who provide security, fire protection and health services for oil firms, began on Sunday but had not affected oil production in the OPEC member state, union official Saad al-Sebayie said.Well over 1,000 of around 1,400 staff at Oil Sector Services Co. (OSSC), owned by Kuwait Petroleum Corporation, have been gathering in a union building instead of turning up for work, he said. OSSC was not immediately available for comment.The workers were asking for their jobs to be moved to a higher pay bracket, Sebayie said. The union had warned state oil companies of the planned action in advance, he added.Policymakers and economists have warned that steep growth in public ...
LONDON: Nigeria has set the official selling prices for Qua Iboe and Bonny Light crude oil in June at dated Brent plus $3.20 a barrel, the state oil company said on Tuesday. In May, the Nigerian National Petroleum Corporation set the price of both crudes at dated Brent plus $3.30.Copyright Reuters, 2013 ...
KUWAIT CITY: Kuwait's vital oil sector has undergone a major reshuffle, with new executives appointed for the subsidiaries of Kuwait Petroleum Corp, after a new KPC chief was named, the national oil firm said Monday.The decisions were taken at a meeting late Sunday by KPC board of directors headed by Oil Minister Hani Hussein, replacing all the top executives of the eight subsidiaries and other departments in the KPC.KPC insisted in a statement that the ...
KHOBAR: Saudi Arabia produced 9.3 million barrels per day (bpd) of oil in April, up from 9.14 million bpd in March, an industry source said on Monday. The oil supply to the market was around 9.2 million bpd, up slightly from the 9.15 million bpd supplied in March, the source added.The other 100,000 bpd of oil that was produced but not supplied to the market is likely too have been put into storage.Copyright Reuters, 2013 ...
KHARTOUM: South Sudan will ship its first oil from its largest fields in Upper Nile state to export facilities in Sudan on May 10, Sudan's oil ministry told state news agency SUNA on Saturday.In March, the African neighbours agreed to resume cross-border oil flows.Landlocked South Sudan had shut down its production of up to 350,000 barrels per day (bpd) in January 2012 after failing to agree with Sudan over oil fees. The new nation, which ...
DAR ES SALAAM: Tanzania said on Saturday that neighbouring Malawi had returned to talks aimed at resolving a border dispute over Lake Malawi that has soured relations and delayed exploration for oil and gas.East Africa has become hot property for the oil industry since huge gas finds off the shores of Tanzania and Mozambique and oil strikes in Uganda and Kenya. Rich hydrocarbon deposits are believed to lie below Lake Malawi.Malawi, which sits to the ...
MILAN: Italian oil and gas giant Eni said on Wednesday it had completed its appraisal of gas discoveries at its Mozambique fields, and that they contained a more-than-expected 80 trillion cubic feet."The well results have exceeded expectations and Eni has updated the estimate of the Mamba Complex and Coral discoveries to 80 trillion cubic feet (Tcf) of gas in place," Eni said in a statement. Eni said it is now finalising the development plans. Eni ...
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