May 20, 2012 / 6:11 PM / 7 years ago

Kuwait says April crude output averaged 3 mln bpd

MANAMA, May 20 (Reuters) - Kuwait produced on average 3 million barrels per day of crude oil in April, the head of Kuwait Petroleum Corporation said on Sunday, adding that $100 per barrel of oil is a reasonable price for producers and consumers.

KPC Chief Executive Officer Farouk al-Zanki said at an industry conference in Manama that “around 100 dollars (a barrel) should be reasonable for producers and consumers.”

He also said that Kuwait’s total April output of 3 million bpd includes production from a neutral zone shared with Saudi Arabia.

Asked about the steam flood project with U.S. major Chevron Corp at the al-Wafra field, Zanki said plans to go into full field development had not yet been finalized.

“Al-Wafra is still under pilot, we have not finalized its success yet, so it’s experimenting,” he said. (Reporting by Reem Shamseddine, Writing by Andrew Hammond; Editing by Gary Crosse)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below