Latest news with #SheikhNawafAlSabah
Bloomberg
09-07-2025
- Business
- Bloomberg
Kuwait Oil Giant Says OPEC+ Supply Hikes Suggest Tighter Market
Kuwait's state energy company said OPEC+'s latest super-sized supply hike and recent interactions with customers suggest persistent demand growth beyond the summer driving season. 'We're seeing some potential tightness in the market, which gives us an opportunity to capture market share in the future,' Sheikh Nawaf Al-Sabah, chief executive officer of Kuwait Petroleum Corp., told Bloomberg TV in an interview on the sidelines of the Organization of Petroleum Exporting Countries seminar in Vienna.
Zawya
30-06-2025
- Business
- Zawya
Kuwaiti firm wins $45mln oil service deal
A major Kuwaiti engineering company has won a contract to provide maintenance services to oil production facilities in the OPEC member. Heavy engineering industries and shipbuilding company (HEISCO) said in a bourse disclosure statement that the contract was awarded by the state-owned Kuwait Oil Company (KOC), which manages the upstream sector in the Gulf state. The project, awarded after strong competition from other companies, involves 'provision of repair and revamping services for production facilities in North Kuwait,' it said. HEISCO, one of the largest private industrial entities in Kuwait, has been a frequent winner of oil contracts awarded by state oil operators over the past years. Kuwait, a founding OPEC member, has been locked in a massive programme to expand its hydrocarbon industry within a long-term strategy stretching until 2040. Sheikh Nawaf Al-Sabah, CEO of Kuwait Petroleum Corporation (KPC), which manages the country's hydrocarbon industry, said in 2024 that there are plans to invest up to $50 billion in the next five years to expand oil and gas output capacity. (Writing by Nadim Kawach; Editing by Anoop Menon) (
