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Olaim takes Kuwait oil job

Mohammad al-Olaim has been named oil minister in a Kuwait's new Cabinet, according to local media reports.

Olaim's appointment, announced on Al Rai TV, follows parliamentary elections in the emirate.

The old government resigned in March over a prolonged row with parliament, prompting Kuwait's ruler to dissolve it and call elections.

Olaim has been acting oil minister for the best part of a year. Kuwait has had no permanent oil minister since November when Badr al-Humaidhi quit after days, bowing to pressure from hostile deputies.

Humaidhi's predecessor, Sheikh Ali al-Jarrah al-Sabah, a member of the ruling family, stood down in June after being questioned by deputies over his conduct.

Oil industry officials told Reuters uncertainty at the oil ministry has led to delays in projects to boost efficiency and output to 4 million barrels per day in 2020.

A multi-billion plan to explore northern oilfields and boost output has been on hold for more than a decade.

The long-standing row between government and parliament has delayed economic reforms aimed at preparing the Gulf Arab state for the era when its vast oil reserves will run low.

Kuwait wants to emulate the success of Gulf neighbours Dubai and Bahrain which have become regional financial centres and popular tourist destinations but key plans such as a law to set up a financial regulator have been stuck in parliament.

Islamists and tribal politicians maintained their grip on the new assembly in the polls, dashing hopes it will pursue more reforms than the old assembly, which had focussed on questioning ministers.

Newspapers said the announcement of the Cabinet had been originally planned for yesterday but was delayed as several candidates turned down offers, worried about the possibility of being questioned in parliament.

Kuwait pumps about 2.6 million bpd.

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