The economy of Kuwait is a small but wealthy petroleum-based economy. The Kuwaiti dinar is the highest-valued unit of currency in the world. Non-petroleum industries include financial services. According to the World Bank, Kuwait is the fourth richest country in the world per capita. Kuwait is the second richest GCC country per capita.
The Kingdom of Saudi Arabia is a country situated in Southwest Asia, the largest country of Arabia, by the Arabian Peninsula, bordering the Persian Gulf and the Red Sea, north of Yemen. Its extensive coastlines on the Persian Gulf and Red Sea provide great leverage on shipping through the Persian Gulf and the Suez Canal. The kingdom occupies 80% of the Arabian Peninsula. Most of the country's boundaries with the United Arab Emirates (UAE), Oman, and the Republic of Yemen are undefined, so the exact size of the country remains unknown. The Saudi government estimate is at 2,217,949 square kilometres, while other reputable estimates vary between 2,149,690 and 2,240,000 sq. kilometres. Less than 1% of the total area is suitable for cultivation, and in the early 1960s, population distribution varied greatly among the towns of the eastern and western coastal areas, the densely populated interior oases, and the vast, almost empty deserts.
Gulf Oil was a major global oil company from 1901 until March 15, 1985. The eighth-largest American manufacturing company in 1941 and the ninth-largest in 1979, Gulf Oil was one of the so-called Seven Sisters oil companies. Prior to its merger with Standard Oil of California, Gulf was one of the chief instruments of the Mellon family fortune; both Gulf and Mellon Financial had their headquarters in Pittsburgh.
An oil platform, offshore platform, or offshore drilling rig is a large structure with facilities for well drilling to explore, extract, store, and process petroleum and natural gas that lies in rock formations beneath the seabed. Many oil platforms will also contain facilities to accommodate their workforce. Most commonly, oil platforms engage in activities on the continental shelf, though they can also be used in lakes, inshore waters, and inland seas. Depending on the circumstances, the platform may be fixed to the ocean floor, consist of an artificial island, or float. Remote subsea wells may also be connected to a platform by flow lines and by umbilical connections. These sub-sea solutions may consist of one or more subsea wells or of one or more manifold centres for multiple wells.
Chevron Corporation is an American multinational energy corporation. One of the successor companies of Standard Oil, it is headquartered in San Ramon, California, and active in more than 180 countries. Chevron is engaged in every aspect of the oil, natural gas, including hydrocarbon exploration and production; refining, marketing and transport; chemicals manufacturing and sales; and power generation. Chevron is one of the world's largest companies; as of March 2020, it ranked fifteenth in the Fortune 500 with a yearly revenue of $146.5 billion and market valuation of $136 billion. In the 2020 Forbes Global 2000, Chevron was ranked as the 61st -largest public company in the world. It was also one of the Seven Sisters that dominated the global petroleum industry from the mid-1940s to the 1970s. Chevron is incorporated in California.
The Battle of Khafji was the first major ground engagement of the Gulf War. It took place in and around the Saudi Arabian city of Khafji, from 29 January to 1 February 1991 and marked the culmination of the Coalition's air campaign over Kuwait and Iraq, which had begun on 17 January 1991.
The Iraq Petroleum Company (IPC), known prior to 1929 as the Turkish Petroleum Company (TPC), is an oil company which, between 1925 and 1961, had a virtual monopoly on all oil exploration and production in Iraq. It is jointly owned by some of the world's largest oil companies and headquartered in London, England, although today it is a paper entity with historical rights and plays no part in the modern development of Middle Eastern oil.
The National Iranian Oil Company is a government-owned national oil and natural gas producer and distributor under the direction of the Ministry of Petroleum of Iran. NIOC was established in 1948 and restructured under The Consortium Agreement of 1954. NIOC ranks as the world's second largest oil company, after Saudi Arabia's state-owned Aramco.
Ras Al-Khafji or Khafji (الخفجي) is a town on the border between Saudi Arabia and Kuwait. It lies in what was before 1970 the Saudi–Kuwaiti neutral zone. The Japanese-owned Arabian Oil Company Ltd signed a concession agreement with the government of Saudi Arabia in December 1957 and with the government of Kuwait in July 1958 for exploration and development of hydrocarbon reserves in the offshore Neutral Zone. The Arabian Oil Company discovered the Khafji oil field in 1960 and the Hout oil field in 1963.
Kuwait Petroleum Corporation is Kuwait's national oil company, headquartered in Kuwait City.
Offshore drilling is a mechanical process where a wellbore is drilled below the seabed. It is typically carried out in order to explore for and subsequently extract petroleum which lies in rock formations beneath the seabed. Most commonly, the term is used to describe drilling activities on the continental shelf, though the term can also be applied to drilling in lakes, inshore waters and inland seas.
Qatar Petroleum (QP) is a state owned petroleum company of Qatar. The company operates all oil and gas activities in Qatar, including exploration, production, refining, transport, and storage. QP's President & CEO is Saad Sherida Al-Kaabi, Minister of State for Energy Affairs. QP's operations are directly linked with state planning agencies, regulatory authorities, and policy making bodies. Together, revenues from oil and natural gas amount to 60% of the country's GDP. As of 2018 it was the third largest oil company in the world by oil and gas reserves.
This page summarizes projects that brought more than 20,000 barrels per day (3,200 m3/d) of new liquid fuel capacity to market with the first production of fuel beginning in 2008. This is part of the Wikipedia summary of Oil Megaprojects.
The petroleum industry in Kuwait is the largest industry in the country, accounting nearly half of the country's GDP. Kuwait has a 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 fourth 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.
The petroleum industry in Western Australia is the largest contributor to Australia's production of most petroleum products.
Kuwait–Saudi Arabia relations are the relations between the State of Kuwait and the Kingdom of Saudi Arabia.
Petroleum licensing or exploration license is the act of giving licenses to a company or a joint venture allowing them to search for commercially feasible deposits for the extraction of petroleum.
Gulf Drilling International Limited (GDI) is a Qatari Shareholding Company based in West Bay, Doha.
Nizar Mohammed Al-Adsani is a Kuwaiti businessman and former deputy-chairman and chief executive officer (CEO) of Kuwait Petroleum Corporation.
The Kuwait–Saudi Arabia border is 221 km in length and runs from the tripoint with Iraq in the west to the Persian Gulf coast in the east.
