Breaking News

Kuwait Oil Minister’s Resignation Accepted by Government

CommoditiesDec 17, 2018 07:22
Saved. See Saved Items.
This article has already been saved in your Saved Items
© Reuters. Kuwait Oil Minister’s Resignation Accepted by Government

(Bloomberg) -- Kuwaiti Oil Minister Bakheet Al-Rashidi’s resignation has been accepted, according to a person familiar with the situation, who asked not to be identified because the news hasn’t been officially announced.

Al-Rashidi, who had been oil minister since last December, submitted his resignation earlier this month, after lawmakers stepped up pressure on the government for his dismissal amid allegations of mismanagement. He still carried out his duties after that and traveled to Vienna to participate in the meetings of the Organization of Petroleum Exporting Countries.

A government spokesman couldn’t immediately be reached for comment.

Kuwait’s oil industry, which provides more than 90 percent of public revenue, has been caught up in political wrangling for about two decades, with 15 people serving as ministers over that period. A number of high-profile energy projects have been either delayed or canceled.

Al-Rashidi survived a no-confidence vote in May after being questioned in parliament over alleged mismanagement. A government-appointed committee formed to investigate the allegations has compiled a report, and MPs have since called for the resignations of Al-Rashidi and other senior officials. Lawmakers have said they plan to question the minister again.

Kuwait Petroleum Corp. issued a statement in October, responding to what was published about the committee’s report in local media. The company said the report contained “erroneous information based on incomplete information, and lacks accuracy and professionalism.” It denied any squandering of public funds or providing misleading information on the progress of projects.

Kuwait Oil Minister’s Resignation Accepted by Government

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at’s discretion.

Write your thoughts here
Are you sure you want to delete this chart?
Post also to:
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Are you sure you want to delete this chart?
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
Sign up with Email