Business News

Height of Kuwaiti crude oil exports to Japan, 57.3% in August
A report of the latest data from the General Administration of Customs of China that Kuwait's exports of crude oil to China rose in the month of August increased by 57.3%, equivalent to 192 thousand barrels per day. The reports indicated that Kuwait provided 3.9% of crude oil to China, compared with 2.9% in the same period of last year and by 4.3% in July as the total exports of Kuwait in the first eight months of 2010, 6.66%, up 28.5% in the same period last year .

Received the Korean company Doosan specialized in the manufacture and installation of power plants, a letter of award from the Saudi Electricity Company to begin in the manufacture, supply and installation of 4 units of steam power plant in Rabigh with total power of 2500 MW of electricity. The board of the Saudi Electricity Company had agreed earlier to award the project to the Korean company at $ 12.7 billion riyals (3.39 billion dollars) after it won the contract. The Executive Chairman of the Saudi Electricity Company, Engineer Ali bin Saleh al-Barrak that the station falls within the Programme of the Saudi Electricity Company to enhance the generation capacity has on the west coast in order to meet electricity demand for new projects. And Ali Al-Barrak said the plant will enter service in the summer of 2014 and 2015....

                                                  Energy, Oil and Gas
"APICORP" is in talks to exit from two major contributions to two classes
The company said the Arab Petroleum Investment Corporation (APICORP) on Sunday, it was in talks reached advanced stage to exit from its two major contributions to two classes and re-invest the sale proceeds in new companies for oil and gas as it seeks to diversify its portfolio. But the company owned the ten States Members of the Organization of Arab Petroleum Exporting Countries (OAPEC) did not specify which assets it plans to sell. Has both Saudi Arabia and the UAE share of 17% in the company. The company plans to reinvest the sale proceeds in the draft oil and gas sectors in the Middle East and North Africa.

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