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2016-07-06 18:05:00

KUWAIT'S DEFICIT: $18.2 BLN

KUWAIT'S DEFICIT: $18.2 BLN

 

KUWAIT OIL MAP

 

KUWAIT OIL FIELDS MAP

 

KUWAIT OIL GAS FIELDS MAP

 

PE published, Kuwait's finance minister says the oil-exporting country has posted a budget deficit of $18.2 billion for the most recent fiscal year as lower crude prices slash into government revenue.

Anas al-Saleh, who is also the acting oil minister, was quoted in the state-run Kuwait News Agency on Sunday as saying the deficit was nearly $9 billion less than budgeted for. The new fiscal year in Kuwait began April 1.

Kuwait's budget deficit reflects the impact lower oil prices have had on crude exporters, particularly Gulf Arab monarchies that rely on oil revenues to support generous subsidies, welfare benefits and public sector wages.

Al-Saleh was quoted as saying Kuwait is "facing serious challenges" that require trimming spending, diversifying the economy, creating more jobs for Kuwaitis and attracting greater foreign investment.

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Earlier: 

KUWAIT'S OIL STRIKE 

KUWAIT & SAUDI AGREE 

BP & KUWAIT AGREEMENT 

RUSSIA & KUWAIT COOPERATION 

KUWAIT: $155 BLN INTO PROJECTS 

KUWAIT & SAUDI WON’T REDUCE: $76/BBL 

KUWAIT CANSELS $1.4 BLN 

KUWAIT DISCOVERS IRAQ 

CHINA & KUWAIT: $ 120 BLN 300,000 BPD OIL 

KUWAIT & SHELL: $12 B 

KUWAIT INVESTS $27B 

KUWAIT: GROWTH 2020 

KUWAIT WILL RICH 

KUWAIT WILL DIG

 

 

Tags: KUWAIT, OIL, GAS, BUDGET, PRICES

Chronicle:

KUWAIT'S DEFICIT: $18.2 BLN
2018, July, 16, 10:35:00

CHINA'S INVESTMENT FOR NIGERIA: $14+3 BLN

AN - China National Offshore Oil Corp. (CNOOC) is willing to invest $3 billion in its existing oil and gas operation in Nigeria, the Nigerian National Petroleum Corporation (NNPC) said on Sunday following a meeting with the Chinese in Abuja.

KUWAIT'S DEFICIT: $18.2 BLN
2018, July, 16, 10:30:00

LIBYA'S OIL DOWN 160 TBD

REUTERS - Production at Libya’s giant Sharara oil field was expected to fall by at least 160,000 barrels per day (bpd) on Saturday after two staff were abducted in an attack by an unknown group, the National Oil Corporation (NOC) said.

KUWAIT'S DEFICIT: $18.2 BLN
2018, July, 16, 10:25:00

BAHRAIN'S GDP UP 3.2%

IMF - Output grew by 3.8 percent in 2017, underpinned by a resilient non-hydrocarbon sector, with robust implementation of GCC-funded projects as well as strong activity in the financial, hospitality, and education sectors. The banking system remains stable with large capital buffers. Growth is projected to decelerate over the medium term.

KUWAIT'S DEFICIT: $18.2 BLN
2018, July, 16, 10:20:00

NIGERIA'S GDP UP 2%

IMF - Higher oil prices and short-term portfolio inflows have provided relief from external and fiscal pressures but the recovery remains challenging. Inflation declined to its lowest level in more than two years. Real GDP expanded by 2 percent in the first quarter of 2018 compared to the first quarter of last year. However, activity in the non-oil non-agricultural sector remains weak as lower purchasing power weighs on consumer demand and as credit risk continues to limit bank lending.

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