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AEO launches energy report | Kuwait Times Newspaper

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KUWAIT: The General Secretariat of the Arab Energy Organization (AEO), formerly known as the Organization of Arab Petroleum Exporting Countries (OAPEC), on Tuesday launched the 51st edition of its Secretary General’s Annual Report for 2024. The report provides a comprehensive overview of key Arab and global developments in the energy sector, with a particular focus on oil and gas. Speaking during a ceremony held to mark the occasion, AEO Secretary General Jamal Al-Loughani highlighted the pivotal role played by member states in the global energy landscape. The event was attended by members of the diplomatic corps accredited to Kuwait from the organization’s member states.

Al-Loughani noted that the release of this edition coincides with the organization’s 57th anniversary since its establishment in January 1968 — an important milestone in the history of joint Arab cooperation, particularly in the field of energy. He emphasized the organization’s sustained and effective presence in regional and international energy-related activities over the years. The report, Al-Loughani said, comes amid significant fluctuations in global oil markets, driven by a range of factors including geopolitical tensions, economic shifts, evolving demand patterns, and environmental challenges. He pointed to regional developments, especially in the Red Sea, which have disrupted oil trade routes and raised temporary concerns over supply security.

He also referred to ongoing sanctions on Russia and the impact of the Russia-Ukraine conflict, which has led to the redirection of Russian energy exports to Asia. Al-Loughani said that global oil demand growth had slowed considerably, reflecting a broader decline in global economic activity — especially in China, the world’s largest oil importer — due in part to rising electric vehicle adoption and severe weather-related disruptions in the United States.

The Secretary General praised the role of AEO member states in the OPEC+ alliance, noting their proactive approach in extending production cuts throughout 2024, which helped stabilize global oil markets. He revealed that OPEC’s crude and unconventional oil supplies declined by approximately 163,000 barrels per day compared to 2023, settling at around 32.4 million barrels per day. Meanwhile, supplies from non-OPEC producers rose by about 630,000 barrels per day to reach 70.2 million barrels per day.

Al-Loughani noted that AEO member states recorded 34 oil and gas discoveries in 2024, underlining the strategic importance of the Arab region in the current and future energy landscape. He said the first chapter of the report reviews key Arab and international energy developments and their impact on the economies of member states, in addition to market fundamentals such as supply, demand and oil reserves. The report also addresses policy trends and geopolitical influences.

The report further examines investment trends in energy transition technologies, including hydrogen as a future fuel, and provides updates on exploration and production, refining, petrochemicals, and gas industries. It also tracks environmental developments and climate change-related matters. Al-Loughani stressed that the key energy indicators in the report confirm the significant position of AEO member states in global markets. Proven crude oil reserves in AEO countries stood at around 713.4 billion barrels in 2024, accounting for 53 percent of the global total of 1,346 billion barrels. Natural gas reserves were estimated at approximately 55.7 trillion cubic meters, representing 26 percent of global reserves.

The average crude oil production of member states reached 21.6 million barrels per day in 2024, or roughly 24 percent of the global total of 88.7 million barrels per day. Marketed natural gas production amounted to 561 billion cubic meters, making up about 14 percent of the global total. On renewable energy, Al-Loughani noted that installed wind energy capacity in the Arab region reached 5.2 gigawatts, representing 0.5 percent of global capacity, while solar power installations exceeded 17 gigawatts, representing 1.1 percent. Hydroelectric power capacity reached 9.15 gigawatts, also constituting 0.5 percent of the global total.

He added that the refining industry in member states includes 54 refineries, with a combined capacity of 10.47 million barrels per day — around 10.9 percent of the world’s total refining capacity of 96.23 million barrels per day. In the natural gas sector, Al-Loughani reported that member states exported 185.9 billion cubic meters in 2024, accounting for 16.3 percent of global exports. Liquefied natural gas (LNG) production capacity reached 120.3 million tons per year by the end of 2024, representing 24.6 percent of the world’s total LNG production capacity. — KUNA

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NBHR, Arab Network coordinate efforts to halt Gaza atrocities

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KUWAIT: The National Bureau for Human Rights (NBHR) on Tuesday affirmed its ongoing coordination with the Arab Network for National Human Rights Institutions (ANNHRI) to unify regional stances and intensify efforts to confront the grave violations committed by Zionist occupation in the Gaza Strip. In a press statement, the NBHR called on the international community to uphold its moral and legal responsibilities toward the Palestinian people, particularly in light of the genocide and starvation policies being systematically implemented in Gaza.

The bureau warned that these actions constitute severe breaches of international conventions, including the Geneva Conventions, which prohibit the use of food as a weapon in armed conflict. The bureau condemned the continued closure of crossings and the blockade imposed since early March of last year, noting that the occupation has been using humanitarian aid as a tool for blackmail — targeting civilians with bombardments while denying them essential supplies.

It described these acts as blatant violations of international humanitarian law and called for the immediate and unhindered entry of humanitarian aid into the besieged territory. The NBHR stressed the urgency of halting what it described as war crimes and crimes against humanity as the aggression on Gaza enters its third year. It reiterated its appeal to the international community to act decisively to stop the violations and bring an end to the ongoing assault on Gaza.

Separately, Secretary General of the Arab League, Ahmed Aboul Gheit, welcomed a joint statement issued by 28 countries — including the United Kingdom and France — calling for an immediate cessation of hostilities in Gaza. In a statement, Aboul Gheit said the growing international condemnation reflects the deepening humanitarian crisis, particularly the inhumane killing of civilians, including children, as they attempt to access essential resources such as food and water.

He added that the joint statement signals a growing global consensus rejecting the continuation of what he described as an ethnic cleansing campaign by the occupying forces. “This operation has reached levels of brutality that defy conscience and humanity,” he said. Aboul Gheit called for translating these statements into concrete international pressure to halt what he termed a daily massacre. He cited the deaths of over 800 Palestinians killed near aid distribution points as a stark example of the severity of the situation.

He further accused the occupation of deliberately pursuing a policy of forced displacement by making life in Gaza unbearable through daily bombardment, starvation tactics, and obstruction of aid. “The world must take effective action to stop this massacre and confront the occupying state’s continued defiance of international humanitarian law,” Aboul Gheit said, describing the situation as a blatant and unprecedented affront to basic humanitarian principles. — KUNA

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Egyptian minister hails Kuwait as strategic ally during KCCI visit

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KUWAIT: Egyptian Deputy Prime Minister for Industrial Development and Minister of Industry and Transport, Kamel El-Wazir, affirmed Tuesday that Kuwait is not merely an economic partner, but a strategic ally of Egypt. His remarks came during a visit to the Kuwait Chamber of Commerce and Industry (KCCI), in the presence of Egyptian Ambassador to Kuwait Osama Shaltout.

El-Wazir highlighted the deep-rooted and exemplary political and economic ties between the two countries, praising the efforts of both governments in fostering business collaboration and promoting integration between public and private sectors. He emphasized the importance of deepening cooperation with Kuwait, citing its robust investments and strategic capabilities as key to unlocking new joint markets. He also noted the existence of an ambitious initiative to establish an integrated industrial zone shared between Egypt and Kuwait. The minister lauded the role of Kuwaiti businesspeople in strengthening economic relations with Egypt and expressed hopes for increased Kuwaiti investments, particularly in integrated industrial cities and infrastructure projects. For his part, Assistant Director General of KCCI, Firas Al-Odah, noted that the visit reflects the strength of bilateral relations and underscores a shared vision for economic renaissance and sustainable development. He commended Egypt’s recent strides in infrastructure development, particularly in the transport sector, describing it as the backbone of progress.

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Al-Odah also pointed to the Kuwaiti private sector’s continued interest in the Egyptian market. He noted that Kuwaiti investments in Egypt are the largest among Gulf states, with around 1,500 Kuwaiti companies currently operating in various sectors. The total volume of Kuwaiti investment in Egypt has reached approximately $20 billion, with strong potential for further growth amid the country’s expanding investment opportunities. He reaffirmed the Chamber’s commitment to facilitating cooperation between the business communities of both countries, aiming to promote mutual growth, development, and prosperity.

Ambassador Shaltout also addressed the gathering, expressing appreciation for the role of the Kuwaiti private sector and investors in supporting Egypt’s economy. He reiterated the Egyptian business community’s eagerness to form strategic investment partnerships with Kuwaiti companies, further deepening economic ties. On the sidelines of the visit, a Kuwaiti-Egyptian investment forum was held with the participation of 17 Egyptian companies from diverse sectors, alongside representatives from the Kuwaiti business community. — KUNA

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Army Deputy Chief hails force’s role in safeguarding waters

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KUWAIT: Deputy Chief of Staff of the Kuwaiti Army, Major General (Pilot) Sheikh Sabah Jaber Al-Ahmad Al-Sabah, on Tuesday conducted an inspection visit to Mohammad Al-Ahmad Naval Base, where he reviewed key responsibilities and duties carried out by the naval force in protecting the nation’s territorial waters. In a statement issued by the Army’s General Staff, it was confirmed that Major General Sheikh Sabah Al-Jaber was briefed on the naval force’s operational scope, including its role in securing maritime borders and ongoing development projects aimed at enhancing readiness and response capabilities at sea.

The visit also included a tour of the Naval Force Institute, where the Deputy Chief of Staff was briefed on the institute’s training programs, curricula and future projects. Among the key initiatives highlighted was the Naval Training Center for Simulators – a state-of-the-art facility designed to equip recruits with advanced practical training in various naval disciplines.

Major General Sheikh Sabah commended the dedication and professionalism of the institute’s instructors and trainers in building a skilled and capable naval force. He expressed pride in the high level of discipline and commitment displayed by course participants, urging them to continue honing their skills and fully benefit from hands-on training exercises. He also emphasized the importance of practice, repetition, and learning from experience to avoid errors and enhance operational performance.

At the conclusion of the visit, Major General Sheikh Sabah inspected an unmanned training boat used as a mobile target in live simulation exercises. He praised the efforts of all naval personnel – officers, non-commissioned officers, and enlisted members – for their professionalism, noting that the performance and discipline he observed reflect the evolving strength and capability of Kuwait’s naval forces. The Deputy Chief of Staff was received at the base by Commander of the Naval Force, Rear Admiral Saif Al-Hamlan, along with several senior officers. — KUNA

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