Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Kuwait- Parliament cmte debates draft KPC budget  Join our daily free Newsletter

MENAFN - Kuwait News Agency (KUNA) - 05/06/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Kuwait News Agency (KUNA)) The National Assembly committee on state budget and final accounts continued its 48th session on Wednesday with discussions on the draft budget of Kuwait Petroleum Corporation (KPC) and its offshoots, notably Kuwait Oil Company (KOC) and Kuwait Gulf Oil Company (KGOC).

The committee members mulled the financial problems facing the launching of KOC's scientific research center, chairman of the committee Adnan Abdul-Samad told reporters after the meeting. "Since it got the greet light in 2009, this key project received only KD 200,000 of the appropriations approved in FY 2011-2012 and FY 2012-2013 amounting to KD four million," he said noting that the draft FY 2014-2015 set aside no further funding for the project.

"The MPs noted a clear shortage of funding for the state projects and late implementation which result in more costs and delay of economic benefit from these projects," he pointed out.

On the appropriations for the healthcare of the oil sector in the new budget, Abdul-Samad said they amount to KD 177 million, including KD 22 million for overseas treatment, noting that KOC will contribute KD 50 million to the figure.

"KOC's total expenditure amounts to KD 1.8 billion while the costs of KGOC's 12 projects amount to KD 87.3 million," he disclosed, noting that the implementation of some of these projects is behind schedule.

The oil output, envisaged in the new draft budget dropped from 294,000 bpd in 2010 to 258,000 bpd, he went on. Regarding the associated petroleum gas, he said the ratio of gas flare went up from 39 percent in 2013 to 50 percent in 2014 despite the stability of the oil production in the two years.

 


Kuwait News Agency (KUNA)




  MENA News Headlines
 Jul 30 2015 - Egypt- Trial of businessman Ehab Talaat postponedqDaily News Egypt
(MENAFN - Daily News Egypt) The trial of prominent businessman Ehab Talaat was postponed to 26 December on Tuesday for an expert report on the matter.Talaat is being sued by the Al-Ahram Foundation ...

 Jul 30 2015 - Egypt participates in UN counter-terrorism meetingDaily News Egypt
(MENAFN - Daily News Egypt) An Egyptian delegation participated Tuesday in the UN counter-terrorism meeting in the Spanish capital, Madrid, and discussed efforts to tackle militancy.Egypt also ...

 Jul 30 2015 - Egyptian court postpones verdict in Al Jazeera journalists' retrialDaily News Egypt
(MENAFN - Daily News Egypt) A court in the Egyptian capital, Cairo, has postponed the verdict in the retrial of three Al Jazeera journalists, jailed for aiding a terrorist organization with false ...

 Jul 30 2015 - Egypt- 'Will justice be served this Thursday?' (1):JournalistsDaily News Egypt
(MENAFN - Daily News Egypt) An Egyptian court will conclude one of Egypt's most hotly debated cases since the ouster of the Muslim Brotherhood regime in 2013, and one of the longest trials the ...

 Jul 30 2015 - Al-Jazeera re-trial case adjourned to 2 AugustDaily News Egypt
(MENAFN - Daily News Egypt) The Egyptian court was to conclude Thursday one of Egypt's most debated cases since the toppling of the Muslim Brotherhood's regime, also among the longest trial the ...

 Jul 30 2015 - Egypt- Trial against Fatima Naoot continuesDaily News Egypt
(MENAFN - Daily News Egypt) The prosecution at the Sayeda Zeinab Misdemeanour Court decided on Wednesday to postpone the case against Fatima Naoot, who is charged with contempt of religion.In turn, ...

 Jul 30 2015 - Ooredoo Oman profit up 18.7 percent in H1MENAFN
(MENAFN) Omani Qatari Telecommuni-cations Company (Ooredoo), has reported an 18.7 percent increase in its net profit for the first half of this year.The company's revenues for the first half of 2015 ...

 Jul 30 2015 - Dubai real estate down, under pressureThe Arabian Post
(MENAFN - The Arabian Post) The Dubai residential market continues to face downward pressure as rents and sale prices decline. It's perhaps indicative of a systemic shift that the current phase's ...

 Jul 30 2015 - Consumer choice, innovation 'key drivers of aviation sector'The Arabian Post
(MENAFN - The Arabian Post) Consumer choice and innovation are the fundamental drivers of competition in the international airline industry, said Etihad Airways president and CEO James Hogan at the ...

 Jul 30 2015 - Qatar's transport sector posts double-digit growth in H1MENAFN
(MENAFN) Qatar's transport sector witnessed a healthy double-digit expansion in profitability in the first half of this year, mainly on the back of earnings in logistics segment.The cumulative net ...

more...


 






Google

Click to Apply

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help