Published on 21/01/2019 9:31:42 AM | Source: Reuters

Kuwaiti oil minister calls sector spending plans 'optimistic': newspaper

Posted in Beyond Market Fashion| #Oil and Gas Sector #Commodity

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CAIRO - Kuwaiti oil minister Khaled al-Fadhel wants the funds allocated by the oil sector for spending within the 2040 strategy to be reconsidered, Al Rai newspaper reported on Saturday.

The minister said he is not against expansion in the oil sector but described the funds, estimated at 150 billion Kuwaiti dinars ($495 billion), as "optimistic", al-Fadhel said.

($1 = 0.3030 Kuwaiti dinars)

(Reporting by Ahmad Hagagy, writing by Hesham Hajali; editing by Jason Neely)