Kuwait’s Parliament Approves the Divided Oil Agreement with Saudi Arabia
2020-01-23 - 1:05 am
Bahrain Mirror- Reuters: On Wednesday, the Kuwaiti parliament approved the divided zone agreement with Saudi Arabia by 55 votes and rejected 7 votes.
Kuwait and Saudi Arabia, both members of the Organization of Petroleum Exporting Countries (OPEC), agreed last year to resume oil production from the divided region after a five-year hiatus.
The agreement will allow the resumption of production by two oil fields that can pump up to 0.5% of global oil supplies.
The two countries suspended production from the Wafra and Khafji fields, with a capacity of about 500 thousand barrels per day, in 2014 and 2015, respectively.