KUWAIT / Reuters Assets managed by Kuwait Investment Authority (KIA), one of the world’s biggest sovereign wealth funds, have grown more than 34 percent over the past five years, Finance Minister Anas al-Saleh said. Speaking at a Euromoney conference, Saleh described the state’s reserves and assets, managed by the KIA, as representing a “safety valve” for the economy during times ...

Reuters BP said it had begun production at the Khazzan gas field in Oman, the sixth and largest of seven new upstream projects that are due to start for the British oil giant this year. Production at the field follows on from BP’s onshore compression and Juniper projects in Trinidad, West Nile Delta Phase 1 in Egypt, Persephone in Australia ...

BEIJING / Reuters Russia beat Saudi Arabia to become China’s top crude oil supplier for a sixth month in August, as independent refiners ramped up purchases and as state-owned refiners bought seaborne shipments from the Russian Far East port of Kozmino. China’s crude oil imports from Russia in August were 4.426 million tonnes, or about 1.04 million barrels per day ...