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Petroleum Industry In Kuwait
The petroleum industry in Kuwait is the largest industry in the country, accounting nearly half of the country's GDP. Kuwait has proven crude oil reserves of 104 billion barrels (15 km3), estimated to be 9% of the world's reserves. Kuwait's oil reserves are the sixth largest in the world and the Burgan Field is the second largest oil field. Kuwait is the world's eleventh largest oil producer and seventh largest exporter. Kuwait's oil production accounts for 7% of world-wide oil production. Since the government of Kuwait owns the petroleum industry, it controls a lot of the country's economy; in all, about 43 percent of the GDP. Kuwait’s oil exports vary depending on internal needs – almost all of Kuwait’s energy is derived from oil – and on international demand and prices and production quotas fixed by the OPEC, of which Kuwait is a member. OPEC’s quotas, however, are difficult to enforce, and Kuwait and other countries have been accused of violating them ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Photo Lg Kuwait
A photograph (also known as a photo, or more generically referred to as an ''image'' or ''picture'') is an image created by light falling on a photosensitive surface, usually photographic film or an electronic image sensor. The process and practice of creating such images is called photography. Most photographs are now created using a smartphone or camera, which uses a lens to focus the scene's visible wavelengths of light into a reproduction of what the human eye would perceive. Etymology The word ''photograph'' was coined in 1839 by Sir John Herschel and is based on the Greek φῶς (''phos''), meaning "light", and γραφή (''graphê''), meaning "drawing, writing", together meaning "drawing with light". History The first permanent photograph, a contact-exposed copy of an engraving, was made in 1822 using the bitumen-based "heliography" process developed by Nicéphore Niépce. The first photographs of a real-world scene, made using a camera obscura, followed a few years ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
OPEC
The Organization of the Petroleum Exporting Countries (OPEC ) is an organization enabling the co-operation of leading oil-producing and oil-dependent countries in order to collectively influence the global oil market and maximize Profit (economics), profit. It was founded on 14 September 1960 in Baghdad by the first five members: Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela. The organization, which currently comprises 12 member countries, accounted for 38 percent of List of countries by oil production, global oil production, according to a 2022 report. Additionally, it is estimated that 79.5 percent of the world's proven oil reserves are located within OPEC nations, with the Middle East alone accounting for 67.2 percent of OPEC's total reserves.Organization of the Petroleum Exporting Countries. (2023). ''OPEC Annual Statistical Bulletin'' (58th ed.), 90 pages. Retrieved from https://asb.opec.org/. ISSN: 0475-0608. (See pages 7 and 22). In a series of steps in the 1960s and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Saudi Arabia
Saudi Arabia, officially the Kingdom of Saudi Arabia (KSA), is a country in West Asia. Located in the centre of the Middle East, it covers the bulk of the Arabian Peninsula and has a land area of about , making it the List of Asian countries by area, fifth-largest country in Asia, the largest in the Middle East, and the List of countries and dependencies by area, 12th-largest in the world. It is bordered by the Red Sea to the west; Jordan, Iraq, and Kuwait to the north; the Persian Gulf, Bahrain, Qatar and the United Arab Emirates to the east; Oman to the southeast; and Yemen to Saudi Arabia–Yemen border, the south. The Gulf of Aqaba in the northwest separates Saudi Arabia from Egypt and Israel. Saudi Arabia is the only country with a coastline along both the Red Sea and the Persian Gulf, and most of Geography of Saudi Arabia, its terrain consists of Arabian Desert, arid desert, lowland, steppe, and List of mountains in Saudi Arabia, mountains. The capital and List of cities ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Kuwait Gulf Oil Company
The Kuwait Gulf Oil Company (KGOC) is a national oil company in the State of Kuwait. KGOC operates under Kuwait Petroleum Corporation. It manages Kuwait's share of the natural resources in the divided zone. History Kuwait Gulf Oil Company was founded on February 10, 2002 to represent the state Kuwait in the Divided Zone. In 2003 KGOC took over the management of Kuwait DZ offshore area from the Arabian Oil Company Ltd. In 2006 KGOC started to take over the operations in the Divided Zone from Kuwait Oil Company. There are two operations committee that handles and manage the exploration and developing of hydrocarbons resources in the Divided Zones which are, Wafra Joint Operations (WJO) and Khafji Joint Operations (KJO). The objective of Wafra Joint Operations is to conduct onshore activities in Wafra Divided Zone in cooperation with Saudi Arabia Chevron (SAC) which conducts exploration and production on behalf of Kingdom of Saudi Arabia, whereas Khafji Joint Operations' object ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Dow Chemical
The Dow Chemical Company is an American multinational corporation headquartered in Midland, Michigan, United States. The company was among the three largest chemical producers in the world in 2021. It is the operating subsidiary of Dow Inc., a publicly traded holding company incorporated under Delaware law. With a presence in around 160 countries, it employs about 36,000 people worldwide. Dow has been called the "chemical companies' chemical company", as its sales are to other industries rather than directly to end-use consumers. Dow is a member of the American Chemistry Council. In 2015, Dow and fellow chemical company DuPont agreed to a corporate reorganization involving the merger of Dow and DuPont followed by a separation into three different entities. The plan commenced in 2017, when Dow and DuPont merged to form DowDuPont, and was finalized in April 2019, when the materials science division was spun off from DowDuPont and took the name of the Dow Chemical Company. Hi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Kuwait Petroleum International
Kuwait Petroleum International (KPI), commonly known as Q8 (pronounced Cue-Eight, which sounds like "Kuwait" in a British accent), is the international subsidiary of Kuwait Petroleum Corporation. It refines and markets fuel, lubricants and other petroleum products in Europe. Established in 1983, it supplies 4,000 retail filling stations, as well as direct sales operations delivering fuel and heating oil to domestic and industrial users. Q8 also operates an International Diesel Service - a secure fuel card service supported by automated technology for international road transportation companies - in more than 700 located sites throughout Europe. Q8 also has a significant aviation business marketing jet fuel at more than 40 airports worldwide and a lubricants business with five lubricants blending plants, direct sales and marketing activities across Europe and export sales to over 75 countries worldwide. History * 1938 Discovery of oil in Kuwait * 1975 Nationalisation of oil w ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Kuwait National Petroleum Company
The Kuwait National Petroleum Company (KNPC) () is the national oil refining company of Kuwait. Established in October 1960, KNPC has the mandate for oil refining, gas liquefaction, and distribution of petroleum goods within the local market. KNPC also handles CFP (Clean Fuel project). History Established in October 1960 as a share-holding company owned by the Kuwait government and private sector, KNPC became fully government-owned in 1975. Since 1968 the company had been exporting petroleum products from its Shuaiba Refinery. In April 2017, Kuwait closed the Shuaiba refinery, which was one of the oldest oil facilities in the region. In 1980, following the restructuring of the oil sector in Kuwait, KNPC was placed under the newly created Kuwait Petroleum Corporation (KPC), which was also government owned. In this revised structure, KNPC took control of distributing petroleum products within Kuwait, along with the ownership of the Mina Ahmadi and Mina Abdullah refineries. Refine ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Kuwait Oil Company
Kuwait Oil Company (KOC), an oil company headquartered in Al Ahmadi, Kuwait, is a subsidiary of the Kuwait Petroleum Corporation, a government-owned holding company. Kuwait was the world's 10th largest petroleum and other liquids producer in 2010. The company produced a total of 1.7 million barrels per day. Kuwait's oil reserves have been nationalized since 1975, with the KOC, established in 1979, holding sole rights to the exploration and production of oil and gas within Kuwait. KOC operations and activities of exploring and producing oil make up nearly 90% of the national budget, which is still highly dependent on oil in its resources. Kuwait's oil reserves are estimated at 100 billion barrels. History The Kuwait Oil Company Limited was established in 1934, through an alliance between the Anglo-Persian Oil Company The Anglo-Persian Oil Company (APOC; ) was a British company founded in 1909 following the discovery of a large oil field in Masjed Soleiman, Persia (Iran). ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Kuwait Petroleum Corporation
Kuwait Petroleum Corporation (; KPC) is Kuwait's major national oil company, headquartered in Al Kuwait. The activities of Kuwait Petroleum Corporation are focused on petroleum exploration, production, petrochemicals, refining, marketing, and transportation. KPC produces about 7% of the world's total crude oil. History and profile In 1934 KPC received the first Kuwait Oil Concession Agreement after it was originally formed by the Gulf Oil Corporation and the Anglo-Persian Oil Company. In 1975 the state signed agreements with BP and Gulf and after its shares were progressively increased, Kuwait Petroleum Corporation was founded on 27 January 1980 as an umbrella company, integrating KOC, KNPC, KOTC and PIC and effectively placing them under government control. Between 1983 and 1987 KPC acquired most of Gulf Oil's refining operations in Western Europe. In 1992 KPC began to operate in Spain and in 1994 the company acquired BP's Luxembourg assets. In May 2013 Nizar Al-Ads ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Production Quota
A production quota is a goal for the Production (economics), production of a good (economics), good. It is typically set by a government or an organization, and can be applied to an individual worker, firm, industry or country. Quotas can be set high to encourage production, or can be used to restrict production to Price controls, support a certain price level. Definition A quota refers to a measure that limits, either minimum or maximum, on a particular activity. Quotas are usually enacted by governments or organizations to protect domestic industries. In short, it limits the number of goods a country can export or import during a certain period of time. Criticism Quotas, like other trade restrictions, are typically used to benefit the producers of a good at the expense of consumers in that economy. Possible effects include Political corruption, corruption (bribes to increase a quota allocation) or smuggling (concealed actions to exceed a quota). Quotas may also create deadwei ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Kuwait
Kuwait, officially the State of Kuwait, is a country in West Asia and the geopolitical region known as the Middle East. It is situated in the northern edge of the Arabian Peninsula at the head of the Persian Gulf, bordering Iraq to Iraq–Kuwait border, the north and Saudi Arabia to Kuwait–Saudi Arabia border, the south. With a coastline of approximately , Kuwait also shares a maritime border with Iran, across the Persian Gulf. Kuwait is a city-state, most of the country's population reside in the urban area, urban agglomeration of Kuwait City, the capital and largest city. , Kuwait has a population of 4.82 million, of which 1.53 million are Kuwaiti nationality law, Kuwaiti citizens while the remaining 3.29 million are Expatriates in Kuwait, foreign nationals from over 100 countries. Kuwait has the world's third List of sovereign states by immigrant and emigrant population, largest number of foreign nationals as a percentage of the population, where its citizens make up less th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
