Kuwait says overnight fire at onshore oil rig now contained

Kuwait’s state-run oil company says it has contained a fire at an onshore oil rig in the country’s southwestern oilfields. (Shutterstock)
Updated 23 April 2018
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Kuwait says overnight fire at onshore oil rig now contained

  • Kuwait’s state-run oil company says it has contained a fire at an onshore oil rig in the country’s southwestern oilfields
  • The company acknowledged another spill at the field earlier this month, without elaborating

KUWAIT CITY: Kuwait’s state-run oil company says it has contained a fire at an onshore oil rig in the country’s southwestern oilfields.
The Kuwait Oil Co. said early on Monday that a fire broke out while an emergency team responded to what it described as a “minor” leak at the Al-Maqwa field.
The company said the fire caused no injuries and production continued at the field. It did not offer an estimate for the number of barrels of oil spilled in the leak.
The company acknowledged another spill at the field earlier this month, without elaborating.
OPEC member Kuwait, a tiny emirate on the Arabian Gulf, is a major oil producer. Kuwait produces some 2.9 million barrels of crude oil a day and holds the world’s sixth-largest oil reserves.


China denies setting target to cut US trade surplus

Updated 1 min 48 sec ago
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China denies setting target to cut US trade surplus

BEIJING: China said Thursday it has not set a target to cut its trade surplus with the US but will seek to increase imports after the two sides stepped back from a potential trade war.
Officials from Beijing were reported to have offered to slash the country’s huge surplus by $200 billion during high-level talks last week — meeting a key Washington demand — by ramping up imports from the US.
That was followed on Monday by President Donald Trump tweeting that China will buy “massive amounts” of additional American agriculture products.
But commerce ministry spokesman Gao Feng denied that any figure was set during negotiations in Washington, which ended with the two countries agreeing to back off imposing tit-for-tat tariffs, though few details were revealed.
“China did not make any commitment on the specific amount of reduction of trade surplus with the US,” Gao told a regular news briefing.
“China will actively encourage companies to increase imports of US commodities and services according to market principles” and its own economic and consumption needs, Gao said.
“The two sides are willing to further strengthen cooperation in fields including agricultural products, energy, medical treatment, high-tech industry and finance.”
Both sides have extended olive branches since the weekend, with China announcing on Tuesday that it will cut auto import tariffs from July 1.
And Trump said his administration could impose a new fine of as much as $1.3 billion on embattled Chinese telecom company ZTE to replace crippling sanctions imposed last month that threatened to put the firm out of business.
However, there are concerns about Sunday’s agreement after Trump said he was “not satisfied” with it.