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 implementaton 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
 Feb 5 2016 - Julius Baer signs final deal with the USThe Journal Of Turkish Weekly
(MENAFN - The Journal Of Turkish Weekly) Swiss bank Julius Baer has signed a deal with the United States authorities bringing an end to an investigation into how it helped US clients evade taxes. A ...

 Feb 5 2016 - Turkey- Merkel to travel Ankara to discuss Syria refugee crisisThe Journal Of Turkish Weekly
(MENAFN - The Journal Of Turkish Weekly) German Chancellor Angela Merkel will travel to Ankara on Monday for talks on Syria andthe refugee crisis her spokesman announced Friday. “The visit ...

 Feb 5 2016 - NATO: Russian airstrikes undermining non military efforts in SyriaThe Journal Of Turkish Weekly
(MENAFN - The Journal Of Turkish Weekly) NATO chief Jens Stoltenberg says Russia's airstrikes in Syria are undermining efforts to find a non-military solution to the conflict. Stoltenberg made the ...

 Feb 5 2016 - Syrian woman starves to death in besieged MadayaThe Journal Of Turkish Weekly
(MENAFN - The Journal Of Turkish Weekly) A Syrian woman starved to death on Thursday in the Syrian town of Madaya taking the death toll in the besieged town to 18 a local medical center said. ...

 Feb 5 2016 - Major players pin high hopes on Syria political solution skepticism remainsThe Journal Of Turkish Weekly
(MENAFN - The Journal Of Turkish Weekly) Despite frustration over a suspension of the third round ofSyriapeace talks major global players still believe that a political solution though difficult to ...

 Feb 5 2016 - Jordan's Joramco to spend USD10m on expansionMENAFN
(MENAFN) In response to expanding demand and an arising Iranian aviation market, Joramco, a Jordan-based aircraft heavy maintenance company, is planning to invest nearly USD10 million to expand its ...

 Feb 5 2016 - UAE's Career Fair 2016 kick-start with huge potentialMENAFN
(MENAFN) The Abu Dhabi City Municipality is participating in the Career Fair 2016, under the umbrella of the Department of Municipal Affairs, which launched in in Abu Dhabi National Exhibition ...

 Feb 5 2016 - Industries Qatar register USD1b gross profit over 2015MENAFN
(MENAFN) Industries Qatar, one of the region's industrial behemoths which specializes in the production of a wide range of petrochemical products, reported financial results for the period ended Dec, ...

 Feb 5 2016 - US welcomes Saudi 'boots on ground' offer in SyriaThe Journal Of Turkish Weekly
(MENAFN - The Journal Of Turkish Weekly) The U.S. defense chief Thursday welcomed reports about Saudi Arabia’s willingness to deploy troops in Syria noting that he would discuss the issue with ...

 Feb 5 2016 - Islamic State Found Weaker In Iraq Syria Stronger In LibyaThe Journal Of Turkish Weekly
(MENAFN - The Journal Of Turkish Weekly) The Islamic State (IS) militant group is growing weaker in Iraq and Syria but has gained strength in Libya according to a new U.S. intelligence assessment. ...

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