Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Kuwait- Parliament cmte debates draft KPC budget  Join our daily free Newsletter

MENAFN - Kuwait News Agency (KUNA) - 05/06/2014
No. of Ratings : 0
Add to Mixx!


(MENAFN - #Kuwait News Agency (KUNA)) The National Assembly committee on state budget and final accounts continued its 48th session on Wednesday with discussions on the draft budget of #Kuwait Petroleum Corporation (KPC) and its offshoots, notably #Kuwait Oil Company (KOC) and #Kuwait Gulf Oil Company (KGOC).

The committee members mulled the financial problems facing the launching of KOC's scientific research center, chairman of the committee Adnan Abdul-Samad told reporters after the meeting. "Since it got the greet light in 2009, this key project received only KD 200,000 of the appropriations approved in FY 2011-2012 and FY 2012-2013 amounting to KD four million," he said noting that the draft FY 2014-2015 set aside no further funding for the project.

"The MPs noted a clear shortage of funding for the state projects and late implementaton which result in more costs and delay of economic benefit from these projects," he pointed out.


On the appropriations for the healthcare of the oil sector in the new budget, Abdul-Samad said they amount to KD 177 million, including KD 22 million for overseas treatment, noting that KOC will contribute KD 50 million to the figure.

"KOC's total expenditure amounts to KD 1.8 billion while the costs of KGOC's 12 projects amount to KD 87.3 million," he disclosed, noting that the implementation of some of these projects is behind schedule.

The oil output, envisaged in the new draft budget dropped from 294,000 bpd in 2010 to 258,000 bpd, he went on. Regarding the associated petroleum gas, he said the ratio of gas flare went up from 39 percent in 2013 to 50 percent in 2014 despite the stability of the oil production in the two years.

 


Kuwait News Agency (KUNA)




  MENA News Headlines
 Apr 28 2017 - Jordan pumps USD500mn EurobondsMENAFN
(MENAFN) The Ministry of Finance proclaimed that it had issued USD500mn worth of Eurobonds on global markets with w yield rate of 5.875 percent.Last year, the underwriting apps for the bonds reached ...

 Apr 28 2017 - Saudi Arabia to increase FDI to 5.7pct of GDPMENAFN
(MENAFN) Saudi Arabia aims to enhance the foreign direct investment from 3.8 percent of its recent GDP to almost 5.7 percent this year in order to diversify its economy.In addition, the effort is ...

 Apr 28 2017 - Dubai World Ltd records 5.7pct increase in Q1MENAFN
(MENAFN) DP World Limited handled 16.4mn twenty-foot equivalent units through its global portfolio of container terminals in the first quarter of this year, with gross container volumes growing by ...

 Apr 27 2017 - Qatar- Deputy PM meets UK officialGulf Times
(MENAFN - Gulf Times) HE the Deputy Prime Minister and Minister of State for Cabinet Affairs Ahmed bin Abdullah bin Zaid al-Mahmoud yesterday met Nicholas Kay, UK Special Envoy for the Horn of Africa ...

 Apr 27 2017 - PM meets CEO of Royal Dutch ShellGulf Times
(MENAFN - Gulf Times) HE the Prime Minister and Minister of Interior Sheikh Abdullah bin Nasser bin Khalifa al-Thani met the CEO of Royal Dutch Shell Ben van Beurden and his accompanying delegation ...

 Apr 27 2017 - Katara wins Arab Tourism Media Oscar awardGulf Times
(MENAFN - Gulf Times) Katara the Cultural Village Foundation won an Arab Tourism Media Oscar award while representing Qatar at the ninth Arab Tourism Media Summit 2017 in Dubai, the UAE. During ...

 Apr 27 2017 - WCM-Qatar faculty share top US awardGulf Times
(MENAFN - Gulf Times) A chapter penned by the writing faculty of Weill Cornell Medicine-Qatar (WCM-Q) has appeared in a book that won the 2017 Outstanding Book Award from the US-based National ...

 Apr 27 2017 - Hot daytime conditions with slight dustGulf Times
(MENAFN - Gulf Times) Strong winds and high seas towards the north are again expected in offshore areas today, the Qatar Met department has said. The detailed forecast says northwesterly winds will ...

 Apr 27 2017 - Qatar- Emir gets message from BashirGulf Times
(MENAFN - Gulf Times) HH the Emir Sheikh Tamim bin Hamad al-Thani yesterday received a written message from Sudanese President Omar Hassan al-Bashir, pertaining to bilateral relations and ways to ...

 Apr 27 2017 - Father Emir meets King SalmanGulf Times
(MENAFN - Gulf Times) HH the Father Emir Sheikh Hamad bin Khalifa al-Thani met with the Custodian of the Two Holy Mosques King Salman bin Abdulaziz al-Saud of Saudi Arabia at the Erga Palace in ...

more...


 





Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Search News
Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help