125 fuel stations dot Kuwait's 18,000 sq-km land

By Osama Jalal KUWAIT, March 28 (KUNA) — Kuwait of an estimated 18,000 square kilometer territory and four million population is dotted with up to 125 fuel stations all over the land, mostly in residential districts, with three companies running them, according to a report released by Kuwait News Agency (KUNA).
Up to 40 of the stations are operated by the Kuwait National Petroleum Company (KNPC), 43 by Oula Fuel Marketing Company (OFMC) and 42 run by Soor Fuel Marketing Company (SFMC), according to the report issued by KUNA’s economic affairs department.
The KNPC is also tasked with regulations and supervision of the State fuel services sector on a temporary basis, pending formation of a permanent authority to take over these tasks.
There are 33 gas stations in Al-Ahmadi Governorate, at a proportion of 26 percent, followed by Al-Assima (the Capital or Kuwait City) 26 (21 percent), Hawally, 20 (16 percent), Al-Farwaniya, 19 (15 percent), Al-Jahraa 17 (14 percent) and Mubarak Al-Kabeer, 10 (eight percent).
Shedding light on the Kuwaiti crude price in Q4, 2015, the report said it averaged USD 37.83 per barrel, while the country’s output amounted to 2.930 million barrels per day. The Kuwait crude price, in the same period of time, reached USD 43.61 pb in October, but dropped to USD 38.39 pb in November. In December, it fell further to USD 31.49 pb.
Also in Q4 2015, the Kuwaiti crude output dropped by 80,000 bpd, some 2.6 percent, reaching 2.930 million pbd, against 2.855 million bpd in the same year Q3.
Price of OPEC’s basket of crudes decreased in Q4 2015, by USD 8.44 per barrel. Also it had also fallen by 17.5 percent, from USD 48.16 pb in Q3 2015, to USD 39.72 pb in the year’s Q4.
The crudes of the Organization of Petroleum Exporting Countries were generally bearish in 2015, where the average rate stood at USD 45.02 pb in October, but dropped to USD 40.50 pb in November. It moved down anew and lower reaching USD 33.64 pb in December.
The KUNA report quoted Dr. Ahmad Bader Al-Qooh, a professor at the Kuwait University College of Petroleum Engineering, as saying that the market was affected with oversupplies, at a rate of 7-8 million barrels per day of the American Shale crude and the Canadian Oil Sands.
Demand slumped due to limited economic growth in consuming countries, the report said, indicating that the market was also affected with speculations, discounts offered by the OPEC states due to the low oil costs, as well as diverse geopolitical factors.
On the gas field, the report noted that Russia, Iran, Arab countries, the United States, Venezuela and Nigeria posses some 85 percent of the world’s gas. Canada and the US are the top producers of the internationally marketed natural gas while share of the Arab countries stands at 4.5 percent of the global gas volume.
Kuwait puts out 1.8 cubic trillion of gas, 3.4 percent of the Arab states’ production, 1.9 percent of OPEC’s output and 0.9 percent of the world’s production. Moreover Kuwait is bonded with neighboring countries for covering its gas needs for industries and households’ consumption.
At present, gas accounts to 20 percent of the global energy volume.
Citing statistics by international agencies, the KUNA report said Russia, Iran, Qatar, Turkmenistan, the US, Saudi Arabia, the UAE, Venezuela, Nigeria and Algeria occupied the top 10 ranks globally and respectively in terms of gas reserves in 2014, with a total of 157.418 trillion cubic meter, accounting to 85 percent of the global overall volume.
OPEC’s overall gas output reached 726.3 billion cm, some 20.4 percent of the global output. As to the Arab countries, their production reached approximately 161 billion cm, constituting some 4.5 percent of the globe’s production.
In terms of consumption, Japan, Germany, the US, China, Italy, Turkey, South Korea, France, the United Kingdom, Spain came in the top 10 ranks, respectively, with an overall of 640.3 billion cm, accounting to 61.8 percent of the global consumption.
(the report is posted on KUNA website: http://www.kuna.net.kw). (end) oj.rk