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Thursday, 14 November 2019

Kuwait says April crude output averaged 3 million bpd

Around $100 per barrel is a reasonable price for oil producers and consumers, says head of emirate's petrol firm

Reuters, Monday 21 May 2012
Views: 551
Views: 551
Kuwait produced on average 3 million barrels per day of crude oil in April, the head of Kuwait Petroleum Corporation said on Sunday, adding that $100 per barrel of oil is a reasonable price for producers and consumers.
KPC Chief Executive Officer Farouk al-Zanki said at an industry conference in Manama that "around 100 dollars (a barrel) should be reasonable for producers and consumers."
He also said that Kuwait's total April output of 3 million bpd includes production from a neutral zone shared with Saudi Arabia.
Asked about the steam flood project with U.S. major Chevron Corp at the al-Wafra field, Zanki said plans to go into full field development had not yet been finalized.
"Al-Wafra is still under pilot, we have not finalized its success yet, so it's experimenting," he said. 
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