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Tag Archives: world oil prices

Kuwait raises gasoline prices, following Gulf neighbors

Kuwait skyline. (Image: Khaleel Haidar via Flickr)

KUWAIT CITY (AP) — Kuwait will raise its subsidized gasoline prices by as much as 83 percent beginning in September, becoming the last Gulf nation to do so as low global oil prices continue to gnaw away at governments across the region. Kuwait’s Cabinet announced the decision on Monday, with the biggest price hike coming for its premium-grade gasoline. As ...

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Nigerian state petroleum company lost $1.3 billion in 2015

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LAGOS, Nigeria — The Nigerian National Petroleum Corp. says it lost 267 billion naira ($1.3 billion) in 2015, even as it tried to pump more oil to counter slashed world prices. The corporation’s monthly report posted at its website Thursday shows the biggest losses recorded at its headquarters, by three refineries and a subsidiary that sources and distributes refined products. ...

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