logo
Kuwait oil price down 13 cents to $71.29 pb

Kuwait oil price down 13 cents to $71.29 pb

Zawya21 hours ago
KUWAIT -- The price of Kuwait oil went down by 13 cents to USD 71.29 per barrel on Monday as opposed to last Friday's USD 71.42 pb, said the Kuwait Petroleum Corporation (KPC) on Tuesday.
Globally, the prices of the Brent crude and West Texas Intermediate both went down respectively by seven and 14 cents to settle each at USD 69.21 per barrel and USD 67.20 pb.
All KUNA right are reserved © 2022. Provided by SyndiGate Media Inc. (Syndigate.info).
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

AI driving industrial decarbonisation and sustainability in Oman
AI driving industrial decarbonisation and sustainability in Oman

Zawya

time11 minutes ago

  • Zawya

AI driving industrial decarbonisation and sustainability in Oman

Oman's vision for a net-zero future depends not only on cleaner fuels and renewable power but also on how its industrial sector adapts. Industries such as LNG, refining, cement, fertilisers, and steel are deeply embedded in the economy. These are also among the most energy-intensive and emission-heavy sectors. To achieve meaningful decarbonisation while remaining globally competitive, Oman must adopt a more intelligent approach, and artificial intelligence (AI) can provide that strategic advantage. AI technologies are now at a turning point. No longer confined to automation or software, they are beginning to shape how materials are processed, how energy is consumed, and how emissions are measured and reduced. The integration of AI with process simulation, as shown in recent LNG and hydrogen liquefaction research, demonstrates how surrogate modeling using artificial neural networks can drastically reduce computational costs and unlock complex optimisation problems that were previously unfeasible. AI-based surrogate models have reduced computational cost by 100% while keeping prediction error margins below 5%. This computational efficiency opens the door to real-time optimization and adaptive control in energy-intensive processes. Similarly, in carbon capture technologies, AI is enabling solvent screening and process optimisation that would otherwise take years of experimentation. As highlighted in recent reviews on biphasic and amine-blended solvents, AI can accelerate the discovery of low-energy, high-efficiency capture agents suited for specific industrial gas streams. Rotating Packed Bed (RPB) systems, considered next-generation in carbon capture, are now being paired with AI algorithms to fine-tune solvent performance, regeneration energy, and capture rates. These innovations are especially relevant for Oman's industrial hubs such as industrial hubs across Oman such as Sohar Port and Freezone, SEZAD, Salalah Free Zone, and Rusayl Industrial City, which collectively drive a large share of the country's economic output and energy demand. AI-enabled technologies can support the transition of these zones to low-carbon clusters, enhance energy efficiency in steel, cement, and petrochemical sectors, and advance integrated decarbonisation plans across the value chain. By aligning with national industrial priorities and strategic development goals, AI can help deliver energy savings, emissions reduction, and digital competitiveness in line with Oman Vision 2040. To unlock this potential, three strategic actions are needed. First, Oman must build national capacity in AI for process systems engineering. This includes workforce development across universities and training centers, focused on simulation, machine learning, and optimisation. Second, industrial data must be integrated with secure digital platforms. Without trusted data, AI cannot generate actionable insights. Third, public-private partnerships should support pilot projects in areas such as hydrogen liquefaction, biodiesel production, and CO₂ capture, demonstrating the return on investment and scalability of AI-based decarbonization. The roadmap is clear. From LNG to hydrogen and from CO₂ capture to sustainable fuels, Oman can lead the region by combining its industrial infrastructure with intelligent technologies. AI is not a future luxury. It is a present necessity. It enables Oman to shift from manual optimisation to systems that adapt, learn, and continuously improve performance. By embedding AI into its sustainability strategy, Oman will be better positioned to achieve national emissions targets, attract green investments, and develop exportable technologies in energy and environment. Oman's industrial zones can serve as testbeds for AI-integrated industrial transformation, with Sohar being one notable example, supporting the country's ambition to become a global player in sustainable industry and energy transition.

Oman takes leading role in regional gas sector growth: GECF
Oman takes leading role in regional gas sector growth: GECF

Zawya

time11 minutes ago

  • Zawya

Oman takes leading role in regional gas sector growth: GECF

MUSCAT: Oman is emerging as a regional leader in natural gas development, with expansion activities underway across the entire value chain—upstream, midstream, and export—according to the latest Global Gas Outlook report by the Gas Exporting Countries Forum (GECF). Headquartered in Doha, the GECF is committed to making 'natural gas the pivotal resource for inclusive and sustainable development' and aiming 'to shape the energy future as a global advocate of natural gas and a platform for cooperation and dialogue.' The 2025 edition of the report highlights Oman's growing prominence as a gas producer and exporter in the Middle East, particularly as it expands its liquefaction capacity. While liquefied natural gas (LNG) exports are set to remain the mainstay of gas trade, the country's role in the sector is becoming increasingly strategic. 'In 2023, Oman exported 12 million tonnes (Mt) of LNG, with over 90 per cent of shipments directed to the Asia Pacific region. These exports are projected to remain steady at 10 Mt by 2030, gradually declining to 8 Mt by 2040, and further decreasing to 6 Mt by 2050,' the report noted. Oman's liquefaction complex at Qalhat recently completed a multi-year upgrade that boosted nameplate capacity from 10.4 Mtpa to 11.5 Mtpa. Actual production climbed to a record 11.98 Mtpa in 2024, pushing LNG revenues to historic highs. Further expansion is planned with the addition of a 1 Mtpa LNG bunkering facility at Sohar. 'In early 2024, the country, in partnership with TotalEnergies, reached a Final Investment Decision (FID) to develop the Marsa LNG project. Set to commence operations in 2028, it will become the Middle East's first LNG bunkering hub—positioning LNG as a cleaner marine fuel and supporting decarbonisation in the shipping sector,' the report explained. Notably, the report omits reference to a planned fourth LNG train at Qalhat, announced by the Omani government in July 2023. The proposed 3.8 Mtpa train would raise the complex's total capacity to approximately 15.2 Mtpa. However, a final investment decision is pending the availability of uncommitted gas feedstock and long-term offtake agreements. On the upstream side, Oman's natural gas production has also seen robust growth. Output rose to 39 billion cubic metres (bcm) in 2023, up from 33 bcm in 2020. This growth was driven largely by the Khazzan-Makarem field, which accounted for 33 per cent of total production in 2023, as well as upstream development linked to the Marsa LNG project, the report stated. All of Oman's gas production currently comes from onshore fields, positioning the country as a key contributor to regional onshore output growth. Exploration activity is also accelerating. In 2023, Oman awarded three new onshore blocks in the southern Rub al Khali Basin, near Block 6, covering more than 20,000 square kilometres. The government has since launched a direct award initiative offering six additional blocks—43A, 43B, 66, 73, 75, and 76—for exploration. The report noted that further investments will target smaller greenfield projects and optimise production from brownfield sites, aiming to enhance recovery rates and operational efficiency. Oman's strategy focuses on balancing domestic demand with export ambitions—particularly to Asia—while integrating decarbonisation technologies such as carbon capture, utilisation, and storage (CCUS) to meet global sustainability goals. An investor-friendly regulatory environment further supports this vision, the report added. Looking ahead, the report concludes: 'Oman is expected to sustain its gas production through the forecast period, reaching 43 bcm by 2050. Achieving this target will require successful exploration, with Yet-to-Find (YTF) resources projected to contribute 60 per cent of total production by mid-century.' 2022 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (

Dubai to link visa renewal to traffic fine payments in pilot phase
Dubai to link visa renewal to traffic fine payments in pilot phase

Khaleej Times

time11 minutes ago

  • Khaleej Times

Dubai to link visa renewal to traffic fine payments in pilot phase

Pay your fines first: Dubai links residency procedures with traffic violations in pilot phase. Dubai authorities are piloting a system that links traffic fine payments with the process of issuing or renewing residency visas. According to the GDRFA, this initiative has been rolled out as a way to encourage residents to settle any outstanding fines. The system does not prevent residency procedures altogether, but prompts individuals to settle dues either in full or through instalment plans before completing their residency transactions. 'The goal is not to restrict people,' said a GDRFA official. 'It's about reminding residents to pay their fines and for their safety in the road"

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store