Business
Kuwait’s oil sector drives push for safer workplaces
Minister of Oil representative Nouf Behbehani inaugurates the 12th International Conference on Occupational Safety, Health and Cybersecurity.
KUWAIT CITY, May 8: Minister of Oil representative at the 12th International Conference on Occupational Safety, Health and Cybersecurity and acting Director General of the Environment Public Authority (EPA) Nouf Behbehani has affirmed the commitment of the ministry to provide all the necessary facilities to industrialists as part of the expansion of craft and industrial enterprises supporting the oil sector. Speaking on the sidelines of the conference organized by the American Society of Occupational Safety and Health Professionals-Kuwait Branch on May 7-8, Behbehani pointed out that EPA Law No. 42/2014 and its amendment, Law No. 99/2015, require all parties to implement health and occupational regulations in newly established industrial facilities in order to obtain professional and preventative accreditation. She stressed that the authority is striving to facilitate the process of obtaining approvals and accreditation for facilities in accordance with the regulations, indicating EPA has adopted an open-door policy for all professionals and industrialists. She explained the accreditation for entities seeking to implement quality must take into account occupational health and preventive regulations, while emphasizing the need to provide awareness opportunities for the industrial and oil sectors and all sectors involved in hazardous work.
She praised the role of the conference organizers; considering this a crucial step in keeping up with developments in the fields of security, safety, and protection from fires and disasters. Moreover, Chairman of the Board of Directors of the American Society of Safety Professionals Fadel Al-Ali revealed the conference focused on the latest developments in health and safety technology and policies, procedures and changes “that make us more determined and committed to implement them.” He said the conference workshops included stakeholders from governmental and private entities; as well as specialists in health, safety and the environment, with the aim of improving performance and keeping pace with developments. He added the oil and industrial sectors are the most impacted by security and safety operations. “Therefore, the society focuses on these entities and their participation. The Ministry of Oil and Kuwait Petroleum Corporation are the sponsors of the conference. Challenges are ongoing; hence, the need for joint action to overcome them,” he stressed.
He urged all stakeholders in the oil, industrial and contracting industries to be updated on global requirements and policies, as well as utilize and implement best practices. He said the conference tackled more than 20 working papers, including research on regional and global security and safety issues. CEO of the American Society of Occupational Safety Professionals – Kuwait Branch Eng. Bader Al-Hadrami stated that artificial intelligence currently provides valuable opportunities to develop the occupational safety and health systems, including modern mechanisms that help implement requirements quickly. He added the 12th edition of the conference focuses on diverse experiences, with more than 200 participants, to achieve the greatest possible benefit for those who participate in the workshops and lectures. He stated that the most difficult challenge is cybersecurity, which has prompted the society to focus on it, based on emerging solutions. He said the discussions set specific standards for measuring the risk index in protection and developing optimal solutions.
Conference Director General Ahmed Ismail said that after 25 years of conference work, this year’s conference seeks to achieve the greatest possible success by discussing the latest developments in the field of health and safety, with the aim of producing the best recommendations that serve participants locally and regionally. He disclosed that the conference participants include ministries, government agencies, oil sector companies and the private sector — all of whom are interested in the fields of health, security, and safety. He added that the cost of implementing international safety standards is estimated at tens of millions of dollars annually, with the amount varying from one entity to another; depending on the region, entity and surrounding risks. He pointed out that spending on security and safety has increased over the past 10 years, given the heightened focus on these areas. Occupational Safety Consultant Mansour Fayez Al-Maghamsi explained that his participation in the exhibition stems from his membership in the American Society of Occupational Safety Professionals. He also presented a working paper on occupational safety and health management in petroleum refineries, as it is the main pillar for aircraft refueling and other industries. He said the society boasts of extensive expertise in cybersecurity and other areas needed by many sectors, in addition to providing members and others with the latest developments in the field of occupational health and safety.
By Najeh Bilal
Al-Seyassah/Arab Times Staff
Jamal Al-Loughani, Secretary-General of the Arab Energy Organization (AEO), formerly known as OAPEC.
KUWAIT CITY, Aug 13: The global economy showed signs of relative improvement in the second quarter of 2025, driven primarily by accelerated spending on imports in anticipation of higher US tariffs, alongside a general improvement in global financial conditions. This was revealed by Jamal Al-Loughani, Secretary-General of the Arab Energy Organization (AEO), in a statement to Kuwait News Agency (KUNA) on Wednesday, following the release of the organization’s second quarterly report on the global oil market.
Al-Loughani noted that the global economic growth rate forecast for 2025 was revised upward to 3%, compared to the earlier forecast of 2.8%. He attributed this positive shift to factors such as improved financial conditions and preemptive import spending. However, he cautioned that the lack of comprehensive trade agreements continues to stir concerns about the long-term impact of ongoing global trade uncertainties.
Despite this uptick in global growth, Al-Loughani pointed to a concerning 12.1% decline in the average spot prices of the OPEC basket of crudes, which fell to USD 67.4 per barrel during the second quarter. The prices of crude oil futures also recorded quarterly losses, with Brent crude and US West Texas Intermediate (WTI) falling by 10.8%, reaching $66.8 and $63.7 per barrel, respectively.
The AEO Secretary-General attributed the drop in oil prices to several factors, including shifts in US trade policy, growing concerns about a potential slowdown in global economic growth, and weaker oil demand. Additionally, he mentioned that the downgrade of the US sovereign credit rating due to rising government debt and a slowdown in China’s industrial production and retail sales further dampened investor sentiment.
Global oil supplies showed a slight increase, rising by 0.4% compared to the previous quarter, reaching 104 million barrels per day. This uptick was largely due to increased output from OPEC+ nations and the United States. On the demand side, however, global oil consumption saw a modest decline of 0.03% quarter-on-quarter, influenced by weaker demand from China and other Asian countries.
OPEC member states experienced a 9.5% decrease in crude oil exports during the second quarter of 2025, dropping to approximately $100 billion. This drop in revenue was primarily attributed to falling oil prices. Al-Loughani noted that these developments had a direct impact on the economic performance of member states, with a decline in oil revenues negatively affecting public finances and external accounts.
Despite these challenges, he emphasized that OPEC member states continued to pursue economic reforms aimed at reducing inflation, stimulating investment, and boosting labor market growth. Furthermore, the non-oil sector provided some support to these economies, helping to mitigate the overall economic impact.
Looking ahead, Al-Loughani expressed optimism for the continued growth of the oil sector, particularly with the OPEC+ decision to implement additional voluntary cuts in April and November 2023. These cuts are set to gradually increase production, reaching 411,000 barrels per day in July, 548,000 barrels per day in August, and 457,000 barrels per day in September. This increase in oil production is expected to positively affect oil revenues, which remain a crucial source of national income for member states.
Despite these positive steps, Al-Loughani warned that the global oil market remains surrounded by uncertainty. While OPEC forecasts indicate a decline in oil supplies from non-OPEC+ countries in the third quarter of 2025, global oil demand is expected to rise to approximately 105.5 million barrels per day. These projections, however, remain speculative due to several ongoing uncertainties, including escalating global trade tensions, geopolitical risks in the Middle East and Eastern Europe, and concerns over global economic growth.
Al-Loughani praised the continued efforts by OPEC+ countries, including six members of the Arab Energy Organization, to maintain balance and stability in the global oil market. These ongoing precautionary measures are aimed at ensuring the oil market remains resilient amid global economic and geopolitical challenges.
While the global economy has shown signs of recovery in the second quarter of 2025, the outlook for the oil market remains volatile, with both supply and demand factors contributing to continued uncertainty.
Business
Gulf Bank Concludes Successful Participation in University Admission Fairs at Kuwait University and Abdullah Al-Salem University
KUWAIT CITY, Aug 12: As part of its ongoing commitment to supporting education and empowering Kuwaiti youth, Gulf Bank has successfully concluded its distinguished participation in the university admission fairs at Kuwait University and Abdullah Al-Salem University. The Bank actively engaged with new students, introducing them to its tailored banking solutions designed specifically for young people.
Gulf Bank took part in the interactive admission fair held at Kuwait University’s Sabah Al-Salem University City in Al-Shadadiya from 19 to 29 July 2025. The Bank’s booth attracted a high turnout from students and parents, who showed great interest in the banking services designed for university students.
Similarly, the Bank participated in the admission fair hosted by Abdullah Al-Salem University at its Khaldiya campus from 6 to 17 July 2025. Gulf Bank’s presence featured direct interaction with visitors, providing comprehensive information on student accounts and other tailored services.
These participations are part of Gulf Bank’s continuous efforts to strengthen engagement with youth and support them in the early stages of their academic journey. Alongside sharing information on academic majors and admission processes, the Bank also offered financial tips to help students manage their resources effectively from the start of their university life.
At both events, Gulf Bank showcased its red account, one of its leading banking solutions designed for customers aged 15 to 25. The account offers a wide range of benefits, including prepaid cards, exclusive discounts, rewards on purchases, and access to unique events and experiences that enrich both personal and professional growth.
Beyond its features, the red account serves as a platform to promote financial literacy among youth, equipping them with the knowledge and skills to make informed financial decisions early in life – positively shaping their future and fostering a generation that is financially aware and capable of managing resources effectively.
Gulf Bank’s team expressed pride in supporting students throughout their high school and university years, offering innovative banking services designed to keep pace with their fast-paced lifestyles.
Gulf Bank concluded its participation by thanking the administrations of both universities for organizing the fairs, which serve as valuable platforms to connect with youth. The Bank reaffirmed its commitment to continuing its support for educational and youth initiatives that contribute to Kuwait’s development and enhance the quality of life for its students and community.
KUWAIT / LODNON, Aug 12: Menzies Aviation, the leading service partner to the world’s airports and airlines, has announced it will deliver ground, air cargo and fuelling services at Mosul International Airport (OSM) in Iraq through MASIL, its joint venture with Iraqi Airways, Air BP and Al-Burhan Group.
One fully operational, MASIL will provide a full suite of aviation services at OSM, under a new 10-year license, further strengthening its footprint in the region. This builds on MASIL’s operations at Baghdad International Airport (BGW).
MASIL provided ground services for the presidential flight that signified the official reopening of OSM. The flight, attended by Iraq’s Prime Minister Mohammed Shia’ Al Sudani, represented a landmark moment in the airport’s history, which has been non-operational since 2014.
The milestone underscores the joint venture’s capabilities and readiness to support future air traffic at the revitalised airport.
Mosul International Airport has undergone extensive reconstruction and is now equipped with a main terminal, VIP lounge, and advanced radar surveillance system. The airport is expected to be fully operational within the coming months, supporting both domestic and international flights and handling an estimated 630,000 passengers annually.
The expansion marks a significant milestone in the continued growth of the MASIL joint venture across Iraq and demonstrates Menzies’ commitment to supporting the country’s aviation infrastructure and long-term development.
Charles Wyley, Executive Vice President Middle East, Africa and Asia, Menzies Aviation, said: “We’re proud to expand our presence in Iraq with new operations at Mosul International Airport through our MASIL joint venture. This is a major step in our journey to support the redevelopment of Iraq’s aviation sector and bring world-class standards to the country’s airports. Handling the presidential flight was a privilege and a clear signal of MASIL’s professionalism and reliability as a trusted service provider.”
Menzies Aviation and Iraqi Airways formed MASIL in 2021 to provide ground handling, cargo, and fuelling services. The joint venture includes operations at key airports including Baghdad and will soon include Mosul, as it continues to support the modernisation of Iraq’s aviation sector.
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