Kuwait
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Oil & Gas
Political deadlock seen continuing after first Kuwait poll under new emir
Kuwait's very first parliamentary election under the new Emir Sheikh Meshal alAhmad alSabah has led to couple of modifications, suggesting that continuous tensions in between government and lawmakers that have actually paralysed decisionmaking are likely to persist. The outcomes of Thursday's survey revealed only 11 new members of parliament, out of a total of 50 elected MPs in the Gulf Arab state. The new emir is eager to press through financial reforms after lengthy deadlock between appointed federal governments and elected parliaments impeded development. Sheikh Meshal's reform-minded approach, with scant tolerance for political bickering, appears aimed at assisting the OPEC
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Oil & Gas Exploration
Kuwait fuel oil exports increase for 2nd month as Al Zour increases
Kuwait's fuel oil exports rose for a second month in February, according to shiptracking data from Kpler and LSEG, as the Al Zour refinery powered towards full capacity. Since bringing Al Zour online in late 2022, Kuwait has become a significant exporter of fine-tuned products, especially extremely low sulphur fuel oil (VLSFO) used in shipping. Consultancy FGE said Al Zour runs reached full capacity of 615,000 barrels per day for the very first time in February even more testing might see this ease once again. We expect Al Zour's typical runs in 2024 will be around 415,000 bpd (67%), with