Kuwait, Oman agree to build oil refinery

Kuwait, Oman agree to build oil refinery: HumSub.TV

Kuwait, Oman agree to build oil refinery: HumSub.TV: Oman Oil Company and Kuwait Petroleum International signed Monday an agreement to build a refinery worth around $7 billion in the sultanate s southern port town of Duqm.

The 50-50 joint venture will have a capacity of 230,000 barrels per day when completed in 2019, Oman Oil Company chief Hilal al-Kharusi said at the signing ceremony in Muscat.

The two partners will provide up to 35 percent of the investment capital, while the rest will be raised from local and international banks, he said.

Bakheet al-Rashidi, chief executive officer of Kuwait Petroleum, said the project serves his company s strategy of diversifying revenues.

The sultanate derives 79 percent of its revenues from oil, of which it produces only about one million barrels per day.

Kuwait has a significant oil wealth and pumps around 2.8 million barrels per day.

Gulf States have been hit hard by a cash crunch due to a sharp drop in oil prices since June 2014.

Most of them have introduced austerity measures and have decided on a series of measures to boost non-oil revenues.

Kuwait, Oman agree to build oil refinery: HumSub.TV

Kuwait, Oman agree to build oil refinery: HumSub.TV

About HumSub TV
Introduction
HumSub TV is Pakistan’s leading forwarding-thinking, edutainment channel, aimed at promoting and upholding peace, interfaith harmony and social responsibility within Pakistan through informative and insightful programmes and documentaries; analytical interviews on issues pertaining to social, economic, legal and environmental set-up; dedicated shows to canvass and thereby promote the culture and heritage of Pakistan and in-depth coverage of national and international news.

HumSub TV is the first channel and thus a pioneer within its own right that mainly focuses on emphasising the “Rights” as well as the “Obligations” of the citizens in light of the Constitution of Pakistan, numerous International declarations signed by the Government and various laws that have been promulgated over the years but are not in the knowledge of the common citizen.
HumSub TV also aims to enter into bilateral agreements with other countries to promote not only their culture, heritage and tourism, but also their educational and medical facilities.
Following the successful launch of HumSub TV’s head office in Blue Area, Islamabad; the bureau office has been set up in Lahore.

Vision
To project positive image building of Pakistan and inculcate nationalism, as per the vision of the founder of the nation, Quaid-e-Azam Mohammad Ali Jinnah.

Mission
HumSub TV is resolute about the promotion of a pluralistic, inclusive and egalitarian society in Pakistan where all citizens are allowed to contribute to promote interfaith harmony, peace and collective wisdom in the social, political and economic development of Pakistan and to encourage critical and lateral thinking in the society. HumSub TV strives to make a positive contribution to this end.

HumSub TV’s Theme
HumSub TV, Pakistan’s first EDUTAINMENT Channel, has been set up for not only those audience residing in Pakistan or overseas but the international community on the whole. The vision of the channel is to project positive image building of Pakistan and inculcate nationalism as per the vision of the founder of the nation.

HumSub TV strives to make a positive contribution to this end by promoting pluralism, inclusiveness and egality in Pakistan and give voice to the suppressed. It endeavors to act as a positive catalyst for social change and Pakistani nationalism. It envisions providing a platform for airing critical and lateral thinking and collective wisdom by inviting positive minded intellectuals and opinion forming individuals for the promotion of interfaith harmony and peace in the social, political and economic development of Pakistan.

Whereas the channel airs upbeat edutainment programmes, it, nonetheless, has the primary objective of countering negative anti-Pakistan regional and international propaganda as well as advancing fundamental rights as encapsulated in the Constitution of Pakistan.

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