Kuwait has kept its official selling price for Kuwaiti crude oil to Asia unchanged at $1.25 per barrel above the average Oman/Dubai price for September. The country reduced the official selling price for Kuwait’s light crude for September to $1.25 per barrel above the Oman/Dubai average, which is 10 cents lower than the previous month.

In July, Kuwait announced a significant commercial discovery of light oil and associated gas in the Al-Nokhatha offshore field, located east of Failaka Island in Kuwait’s economic waters.

Kuwait Oil Company stated that the initial area of the field is approximately 96 square kilometers, noting that this discovery represents a major milestone in its ongoing efforts to explore hydrocarbon resources in Kuwait’s maritime region. Production from the “Nokhatha-1” well in the Minagish geological layer is around 2,800 barrels of light oil and 7 million cubic meters of associated gas per day