The amount is expected to finance 523 projects over a period of five years, a senior official said.
The crude unit was back online on January 2 with 80 per cent capacity and is expected to return to full capacity by January 21.
The ministry fined Ooredoo Kuwait, claiming that it had been unlawfully using government network infrastructure since 1999,
Ministers said that the government will not abandon subsidy reform.
The identity of the buyer of CBK’s holding in Boubyan was not immediately clear.
Deputy chairman Talal Mohamed Reda Yousef Behbehani will take over the position of chairman for the bank.
The new order will help Kuwait Airways expand its operations through the launch of new routes.
The official also ruled out a possibility of an emergency meeting in June.
Saudi Oil Minister Ali al-Naimi insisted that oil prices would improve, although it was unclear when.
The move will boost the GCC’s tourism industry, helping sectors such as aviation and hospitality.
The accident, which took place earlier this month, killed 25 Egyptian fishermen.
A UN official said that Iraq has requested a one-year deferral of a $4.6 billion reparations payment for destroying Kuwait’s oil facilities during the Gulf War.
Oil fell to close to $59 a barrel for the first time since May 2009 on Tuesday.
The Kuwaiti ship collided with a fishing vessel in the Red Sea, killing 13 Egyptians.
The collision is at least the second such recent incident involving vessels passing through the Suez Canal.
New changes would cover market mechanisms and the operations of market makers.
Officials are estimating budget spending at KD19 billion in the fiscal year starting next April.
The state-owned firm said that it will take a 30 per cent working interest in the new exploration blocks in the event of a commercial discovery.
The January OSP, down $1.85 a barrel from the previous month, is Kuwait’s lowest since December 2008, Reuters data showed.
The biggest listed businesses in Kuwait valued by market capitalisation.
Sheikh Sabah said that one of the ways to encounter the oil price slide was greater economic integration within the GCC.
The firm said on November 18 that it had received the backing of a “significant majority of investors” for the proposal.
Kuwait Petroleum Corporation CEO said that the price will hover around $65 until the world economic recovery is clear.
Pakistan will buy about 2.5 million tonnes a year of high sulphur gasoil from state company KPC, with a tolerance level of plus and minus 10 per cent, sources said.
Saudi Arabia’s bourse took the biggest hit, dropping 4.8 per cent to 8,625 points, its lowest close since early January.
Brent crude prices have fallen about 10 per cent since regional equity markets last traded on Thursday.
Kuwait’s stand comes as Gulf OPEC members reached a consensus to not cut output to stem oil price fall.
In March, the Court of First Instance fined Ahmed Yousef Behbehani after a complaint by the Capital Markets Authority.
The total project cost, including the fourth phase, stands at KD610 million.
The company plans to invest in a new refinery and a clean fuels project, its chief executive said.