Tues Aug 31, 2021
News Summary Report EXTERNAL AFFAIRS
Katyusha missiles fired by outlawed groups in Iraq
During the meeting, Defense Minister Sheikh Hamad Jaber Al-Ali Al-Sabah briefed the Cabinet on the firing of three Katyusha missiles from inside Iraq towards the Kuwaiti-Iraqi border zone. The minister told the Cabinet the rockets caused no material damage or human losses. He told the Cabinet that Kuwait coordinated with the Iraqi authorities over the incident and it was “found that this type of projectiles is used by outlawed groups” in Iraq.
The attack was claimed by pro-Iran militias which said it was targeting foreign military bases in Kuwait. The cabinet statement reassured the public that the situation in the northern border zone is stable. In the meantime, prominent opposition MP Shuaib Al-Muwaizri said he will demand convening an emergency session of the National Assembly to debate what he described as
“political, financial and administrative chaos” by the government. The Assembly is currently in summer recess and at least 33 MPs must sign a motion to call an emergency session to debate the issue.
Kuwait Times
ECONOMIC
Kuwait oil price up 61 cents to USD 73.21 pb
Kuwait oil price went up by 61 cents to USD 73.21 per barrel Monday after being at USD 72.60 pb the day before, said Kuwait Petroleum Corporation (KPC) on Tuesday.
As for the Brent crude and West Texas Intermediate prices, both went up respectively by 71 cents and 47 cents to settle at USD 73.41 pb and USD 69.21 pb
KUNA
OPEC basket up to USD 71.48 pb
The OPEC basket went up by 73 cents to 71.48 per barrel (pb) on Friday as opposed to USD 70.75 pb the day before, said the bulletin for the international organization on Monday.
Annual price of the OPEC basket in 2020 was at USD 41.47 pb.
The OPEC+ member states are scheduled to hold a ministerial meeting on September 1 to reassess the market status with respect of demand, supplies and prices.
The OPEC basket consists of Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Zafiro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).
KUNA
Corruption costs Kuwait 1,2 bln annually
Kuwaiti politicians called for the necessity to unite in order to combat corruption which is consuming Kuwait gradually and to cease the negative impacts on economy. The politicians revealed that they have agreed upon plans for new projects and new regulations that will be presented by Kuwait Parliament aiming to achieve economic reform and combat corruption.
At the beginning of the meeting, CEO of Economic Association Abdalwahab Al-Rashidi demonstrated the negative impacts of corruption on the public budget confirming that corruption costs Kuwait 1,2 billion annually. Moreover, the economy is suffering from imbalance that is treated with “nonchalance” by officials and decision makers, assuring that the inability to make the right decision on the right time is the most dangerous kind of corruption.
Al-Rashidi confirmed that oil revenues are 90% of Kuwait’s budget which is a real threat to the country. On the other hand, spending is highly increasing; in 2016 around KD 16 billion were spent exceeding oil revenues that reached KD 12 Billion, while spending is growing by 3,5% annually.
Al-Rashidi noted that Kuwait is in front of 3 options, first is to use public debt, second is to withdraw directly from the Future Generation Fund and the third is to use the first and second options together. He warned, “If reform measurements are not implemented, deficit will reach KD 200 billion in 2035 which is equivalent to the Sovereignty Fund’s assets.”
Al-Seyassah
Contractors wait for Kuwait petrochemical project update
Meed Agency mentioned that contractors are still waiting for updates regarding in Al-Zour petrochemical complex whereas efforts to develop the project are threatened by the COVID-19 pandemic. Al-Zour complex, which goes under Kuwait Integrated Petroleum Industries Company (KIPIC), costs USD 10 billion and is threatened by politics’ sterility along with COVID-19 repercussions.
Sources informed Meed that travel restrictions related to the pandemic limited expatriate employees and workers’ recruitment who have great technical
talk about the project along with uncertainty about the future of the project.
Contractors who want to submit bids don’t know whether the project will proceed or be cancelled all together.
KIPIC offered in April bids for Al-Zour Petrochemical Complex with USD 10 million budget and had issued a list with competent contractors’ names for the 3 main phases of the project, the project is sometimes referred to as Petrochemical Refinery Integration Al-Zour Project (PRIZe).
Below are 7 competent group names to submit bids on two phases:
Consortium headed by the Spanish Tenicas Reunidas beside the Chinese Sinopec Company.
Consortium headed by the Korean Samsung Engineering along with both the Taiwanese CTCI Company and the Lebanese Consolidated Contractors Company.
Consortium headed by the American Fluor Company including both the Daewoo Engineering & Construction Company and China State Construction and Engineering.
Consortium headed by the Italian Saipem Multinational Oilfield Services along with Hyundai Company.
Consortium headed by FCM Engineering UK Limited Company.
Consortium headed by the Korean SK Engineering & Construction Company along with the British Petrofac Company.
The Japanese JGC Holdings Corporation
KIPIC decided in 2019 the strategy to be followed for long-term Petrochemicals; the company said that it aims to provide Kuwait with a global prominence in producing Polyethylene, polypropylene and Diethylene Glycol.
Al-Anbaa
28 years to recycle Al-Salmi dumped tires
After removing more than 42 million used tires to Al-Salmi area which was transformed into the biggest tires graveyard in the world and considering production capacity of recycling factories in Kuwait, monitors believe that the needed time to execute the recycling operation takes 28 years at least supposing that there won’t be additional tires to Al-Salmi which is impossible with the consistent consumption of tires in Kuwait.
This delay in solving the problem reflects failure in managing used tires and ignoring the urge need to recycle them.
Al-Jareeda
DOMESTIC AFFAIRS
Kuwait reports 184 new COVID-19 cases, one death
Kuwait’s daily coronavirus cases rose by 184 to 409,736 as deaths increased by one to 2,418, according to the health ministry on Sunday.
Another 297 people were cured of the virus, raising the total of those to have overcome the disease to 404,855, ministry spokesperson Dr. Abdallah Al-Sanad said in a statement.
The number of people hospitalized with the virus currently stands at 182, with 88 of them in intensive care units, he added, revealing that another 2,463 are receiving regular treatment.
KUNA
Airport capacity increased to 10,000 passengers per day
Sources informed Al-Seyassah that the Cabinet agreed in its meeting yesterday to increase the capacity of passengers on incoming flights to Kuwait to 10,000
Directorate General of Civil Aviation had earlier requested to increase the airport arrival limit from the existing 7500 in order to facilitate the opening of direct flight between India and other 6 countries.
Sources added that the procedures of entry for work permit holders who don’t have ID numbers will be decided in a meeting between the Ministry of Health and the Directorate General of Civil Aviation
Al-Seyassah
Sources:
KUNA: http://www.kuna.net.kw/Default.aspx?language=en
Al Rai: http://www.alraimedia.com/
Kuwait Times: http:/36Y5/www.news.kuwaittimes.net/website/
Arab Times: http://www.arabtimesonline.com/news/
MEED: http://www.meed.com/
Al Anbaa: http://www.alanba.com.kw/newspaper
Al-Seyassa : http://al-seyassah.com/
Al-Anbaa: https://www.alanba.com.kw/newspaper/
77777 Al-Jareeda: http://www.aljarida.com/
