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Kuwait News and Analysis

Petrochemicals

Kuwait signals it will go ahead with multibillion-dollar petrochemical facilitySubscription

State oil firm says it is setting up a company to manage refinery integration

Crude oil prices

Kuwait expects a budget deficit of $40bnSubscription

Estimate is based on an average oil price of $25 a barrel

Kuwait

Kuwait 2016-17 budget deficit to widen Subscription

 $25-a-barrel oil forecast to trigger $40bn deficit

Kuwait’s rapid progress on the New Refinery Project over recent weeks has come at a crucial time for the oil sector

Kuwait Petroleum Corporation to sell loss-making assetsSubscription

The sell-off is part of a range of measures designed to lower spending

Petrochemical plant

Equate looks to refinanceSubscription

Original loan funded acquisition

Joint venture bids low for Kuwait airport

Kuwait considers second review for airport project Subscription

Audit Bureau rejected contract in first review

Frozen food

Alabbar leads GCC investors in bid to buy Americana stakeSubscription

UAE investment firm Adeptio inks agreement with Al-Khair Holding Company

Dubai International airport

Major GCC airports post record passenger growth Subscription

Airports report double-digit increases in 2015

LNG import terminal

Low bid submitted on Kuwaiti gas terminalSubscription

Consortium submits price of $2.9bn

Power plant

Kuwait extends bid deadline for power plant expansionSubscription

Project will extend capacity of existing Subiya facility by 750MW

David Richter

Major construction programmes keep firms busy in 2016Subscription

Hill International is working on long-term projects across the region

UAE banks continue growth

GCC banks hike provisioningSubscription

Problem loans steady in 2015

Coal-fired power station

Massive project finance pipeline for 2016Subscription

Project finance in 2016 shows potential, but banks may hold back

Oil rig

Board Report: February 2016Subscription

Region begins economic overhaul in response to low oil prices

The IMF estimates that on average, the richest 20 per cent of a nation benefits six times more from subsidies than the poorest 20 per cent

Cut subsidies and increase efficiencySubscription

Cheaper crude has convinced many regional governments to reform energy subsidies, a vital step towards changing the region’s wasteful habits    

Nakheel: Palm Jumeirah

GCC contract awards to fall in 2016Subscription

A sharp decline of 15 per cent is forecast for contract awards in the region, although a series of major contract awards in Dubai provides some cause for optimism

Gas storage tanks and pipelines

Kuwait will struggle to secure lower prices for Jurassic gas projectSubscription

Industry insiders say contractors are wary of taking on the reissued packages

Offshore oil rig

The outlook for oil and gas in 2016Subscription

Many of the projects in the region’s oil and gas pipeline are in states such as Algeria, Iraq and Egypt, where politics can have a substantial impact

A welcome development in Kuwait's economy in the past couple of years has been the emergence of its non-oil sector

Kuwaiti banks gear up for PPPSubscription

Kapil Kumra, head of project finance, foreign corporate group at the National Bank of Kuwait looks ahead to Kuwait’s project plans

majeed karim

Energy trading in GCC moves step closerVideoSubscription

The GCC wants to extend its electricity grid to be able to export and import energy beyond the bloc