Kuwaiti to cut oil production | VailDaily.com

Kuwaiti to cut oil production

KUWAIT CITY – A fire broke out in a Kuwaiti refinery Thursday, and the country’s production of refined oil will be cut by 2 percent as a temporary, precautionary measure, officials said.Overall exports will not be affected by the blaze at the Shuaiba refinery, the smallest of Kuwait’s three facilities, a spokesman for the state-run petroleum organization said.Production will be reduced by 20,000 barrels of oil a day, said Mohammed al-Ajmi of the Kuwait National Petroleum Co. The country produces about 900,000 barrels of refined petroleum a day.Asked how long the cut would last, al-Ajmi said it could be “hours or days.” Shuaiba produces 200,000 barrels of oil a day.The fire broke out in the gas flashline, but nobody was injured, and it was extinguished in one hour, al-Ajmi said.The drop in production is “not significant,” said local oil analyst, Kamel al-Harmi.The cause of the fire was under investigation, he said. Preliminary indications were that the fire was caused by a leak.Al-Ajmi initially said production had not been affected, but he later announced that the refinery had decided to reduce output.

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