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BUSINESS
July 26, 1991 | From Times Staff and Wire Reports
Kuwait Rejoining Ranks of Oil Exporters: Kuwait said it would start exporting crude oil again this weekend, almost a year to the day after Iraq's Aug. 2 invasion choked off production. Senior officials at Kuwait Petroleum Corp. reported that the emirate had chartered a number of tankers to load crude at the al-Ahmadi terminal. The officials refused to give details of the shipments but said an announcement was likely this weekend.
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BUSINESS
June 1, 2009 | Bloomberg News
There is "no way" OPEC will cut production when the group meets again in September, Kuwait's oil minister said, after the supplier of about 40% of the world's oil left output quotas unchanged last week. "We're not in favor to see the prices in the hundreds because this will fuel recession again," Sheik Ahmed al Abdullah al Sabah told reporters Sunday in Kuwait City. "We have to give the world economy more time" to recover from its worst recession since World War II.
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NEWS
May 22, 1987 | NORMAN KEMPSTER and DON SHANNON, Times Staff Writers
The State Department's top Middle East expert said Thursday that the United States is ready to protect Kuwaiti oil tankers to upset Iranian plans to dominate the Persian Gulf region, preserve free navigation in international waters and avoid what could be a ruinous surge in oil prices. While conceding that the action could result in armed clashes between the United States and Iran, Assistant Secretary of State Richard W.
BUSINESS
September 29, 1993 | From Times Staff and Wire Reports
OPEC Members Disagree on Supply Caps: The cartel's strategy for driving oil prices higher ran into trouble after Iran and Kuwait pressed demands to produce more oil in the final three months of the year. Ministers of the 12 member nations of the Organization of Petroleum Exporting Countries put off a scheduled meeting to take an extra day for private bargaining at a luxury hotel in Geneva. The OPEC nations hope to dry up some of the excess oil on the market and push prices higher.
NEWS
July 30, 1987 | GAYLORD SHAW, Times Staff Writer
Eight Navy minesweeping helicopters are being sent from the United States to the Persian Gulf to clear sea lanes for U.S.-escorted oil tankers, Pentagon officials said Wednesday. The deployment, ordered by Defense Secretary Caspar W. Weinberger, was seen as a stopgap solution to the hazards posed to gulf shipping by underwater mines that Iran is believed to have planted. Last Friday, such a mine damaged the first re-registered Kuwaiti tanker to move through the gulf while under U.S.
NEWS
September 7, 1990 | NICK B. WILLIAMS Jr., TIMES STAFF WRITER
Knots of angry, anguished Kuwaitis parade through the streets of Persian Gulf states, European capitals and American cities bearing placard portraits of a smiling man in a flowing white headdress held firm by a doubled black cord. The bright-eyed, goateed and mustachioed face belongs to His Highness the Emir, Sheik Jabbar al Ahmed al Sabah. He is the symbol of hope for his pillaged, Iraqi-occupied country.
BUSINESS
July 26, 1990 | PATRICK LEE, TIMES STAFF WRITER
Iraq's saber-rattling toward Kuwait is a bad omen for consumers concerned about oil prices. Iraq, the most contentious member of the Organization of Petroleum Exporting Countries, is also OPEC's leading "price hawk," favoring OPEC policies that will sharply curtail production until average world prices rise to at least $25 per barrel from about $17 now.
NEWS
July 25, 1990 | NICK B. WILLIAMS Jr. and MELISSA HEALY, TIMES STAFF WRITERS
Egyptian President Hosni Mubarak plunged into emergency diplomacy Tuesday to bridge the noisy rift between Iraq and Kuwait, as the Pentagon announced "short-notice" naval maneuvers for U.S. warships in the Persian Gulf.
BUSINESS
September 6, 1990 | From Associated Press
Oil shortages from the embargo against Iraq and Kuwait may develop late this year, Bush Administration officials said Wednesday. "The last half of the fourth quarter gives us concern," Assistant Energy Secretary John J. Easton Jr. told the House Government Operations Committee. "We see the potential for greater uncertainty as winter develops."
NEWS
September 3, 1990 | United Press International
Saudi Arabia has increased its oil production by 2 million barrels a day, fulfilling a pledge to offset shortages caused by the worldwide embargo against Iraqi and Kuwaiti oil, Riyadh Radio said Sunday. "A well-informed Saudi source said Sunday that Saudi Arabia has raised its oil production to 7.4 million barrels a day, effective Friday," the radio reported. Saudi Arabia's previous OPEC-decreed quota was 5.4 million barrels a day.
NEWS
November 23, 1991
With the recapping earlier this month of the last burning well, the fires from the Iraqi-sabotaged oil fields are now out. But the sands are still crusted in black, the long-term cleanup costs are almost incalculable and the environmental effects of last year's Iraqi invasion and occupation will haunt Kuwait and the Persian Gulf for years. THE WELLS: Early this month Kuwait formally capped the last of the 732 wells sabotaged by Iraqi troops or damaged in the fierce six-week conflict.
BUSINESS
October 16, 1991 | JAMES FLANIGAN
Suddenly, and surprisingly, oil prices are going up--sharply. The price hit $23.79 a barrel Tuesday, up $2.50 in this month alone. And prices are expected to stay high through the fall and winter, meaning that gasoline, heating oil and jet fuel will go up too. The reason simply is supply and demand.
NEWS
July 28, 1991 | From Reuters
Kuwait resumed oil exports Saturday with a 260,000-ton shipment--the first since Iraq invaded the emirate almost a year ago. Oil Minister Hamoud Rogba told the newspaper Al-Watan that most of the oil had been produced in June and July. The oil was loaded aboard the tanker Thorness, which was due to leave the Ahmadi terminal Saturday morning.
BUSINESS
July 26, 1991 | From Times Staff and Wire Reports
Kuwait Rejoining Ranks of Oil Exporters: Kuwait said it would start exporting crude oil again this weekend, almost a year to the day after Iraq's Aug. 2 invasion choked off production. Senior officials at Kuwait Petroleum Corp. reported that the emirate had chartered a number of tankers to load crude at the al-Ahmadi terminal. The officials refused to give details of the shipments but said an announcement was likely this weekend.
NEWS
March 23, 1991 | DAVID FREED, TIMES STAFF WRITER
With more than 500 oil wells already blazing out of control, Kuwait's oil minister announced plans Friday to set fire to even more wells to stop them from spewing clouds of potentially lethal gas over the country. At the same time, the minister, Rashid Salim Amiri, disclosed that millions of gallons of crude oil gushing uncontrollably from damaged wells are forming vast petroleum lakes that threaten to flood the eastern outskirts of Kuwait city.
NEWS
February 13, 1991
"Many of us ask why this solidarity against aggression did not present itself previously when small and weak nations were attacked. . . . What would have happened if Kuwait had been covered with banana plantations, coffee farms or sugar estates, rather than oil wells? Now the great industrial powers rely upon international law to defend the independence of a country whose oil wealth is of interest to them.
NEWS
February 25, 1991
Renowned oil firefighter RED ADAIR of Houston will join other American experts in battling the blazing oil fields of Kuwait. Adair, speaking on ABC's "This Week with David Brinkley," said he will leave for Saudi Arabia today but cannot begin fighting the fires until the war ends. President Bush accused Iraq of starting the hundreds of oil fires as part of a "scorched earth policy." Adair didn't say how much it would cost to put out the fires.
NEWS
March 2, 1991
All of Kuwait's 950 producing oil wells may have been set ablaze or otherwise damaged by Iraqi sabotage or allied bombing, according to initial surveys by the Kuwait Oil Co. "Our provisional assessment is they have DAMAGED EVERY PRODUCING WELL," company executive Musab Yaseen said. Yaseen said the country has only about a 16-day supply of oil left in storage tanks for domestic consumption.
NEWS
February 25, 1991
Renowned oil firefighter RED ADAIR of Houston will join other American experts in battling the blazing oil fields of Kuwait. Adair, speaking on ABC's "This Week with David Brinkley," said he will leave for Saudi Arabia today but cannot begin fighting the fires until the war ends. President Bush accused Iraq of starting the hundreds of oil fires as part of a "scorched earth policy." Adair didn't say how much it would cost to put out the fires.
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