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Kuwait oil min sees crude at $75-$80 in Q1 2011

Also confirms Kuwait is interested in Indian Oil Corp.


September 27, 2010 4:49 by

Crude oil prices are likely to be between $75 and $80 per barrel in the first quarter of 2011, Kuwaiti Oil Minister Sheikh Ahmad al-Abdullah al-Sabah said on Monday.

Sheikh Ahmad also said Kuwait was interested in acquiring a strategic stake in state-run Indian Oil Corp, subject to economic feasibility.

On Sept. 6, India’s Oil Secretary S. Sundareshan said the Indian government planned to sell a 10 percent stake in IOC, the country’s biggest state-run refiner.

Sheikh Ahmed also said Kuwait was keen to keep its stake in BP at current levels.

(Reporting by Nidhi Verma; editing by Jo Winterbottom)


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