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Oil prices will not exceed USD 115 unless surprising events emerge - Min.

Al-Busairi By Osama Jalal KUWAIT, Feb 6 (KUNA) -- Kuwaiti Minister Oil and Minister of State for National Assembly Affairs Dr. Mohammad Al-Busairi on Monday said he expected oil prices, during the first half of the year, to be in the range between USD 100-115 per barrel, unless "surprising events or geopolitical changes" emerge.

While touring the Kuwait Petroleum Corporation 's ( KPC ) training centre, Al-Busairi said that all indications are that the market is "balanced" in terms of supply and demand, adding that the prices are appropriate for consumers and producers alike. He underlined that Kuwait's production is "steady and will not change." On the other hand, Al-Busairi praised the Supreme Council for Training and Education at KPC , lead by Sheikha Shatha Al-Sabah, managing director for Training and Career Development, for its distinctive achievements, and the admiration and appreciation it enjoys by all working staff of the oil sector. In 2011, the Petroleum Training Center trained more than 17,000 individuals in various programs, added Al-Busairi.

Also, he noted that the Center is considered as an "honorable interface" to what it contain of mass abilities such as laboratories of high quality, highly equipped workshops, and the latest updates in technology whether theoretically and practically, as well as highly capable training staff from various nationalities and national efficiencies.

In addition, Al-Busairi expressed hope that the Center would be the starting base of all ambitious Kuwaiti youth to work for the oil sector in all its branches, affirming Kuwait's keenness in investing in human resources and develop citizens working in the oil sector.

On her part, Sheikh Shatha said that Minister Al-Busairi checked, during his tour, various facilities of the Petroleum Training Center, pointing out that he also reviewed the style of examinations that "enjoy a high level of transparency", and the planning strategies of training and development workshops.

The Center won many certificates of high quality and global efficiency, one was from the British government, she noted, adding that it has also won certificates in various majors, as well as certificates by GCC countries and the Middle East.

On futuristic vision, Sheikha Shatha mentioned that a committee has been formed in order to amend the title of the Center to the Kuwaiti institute for oil industry technology, and would be internationally certified, pointing out that the committee has completed its work and will submit its report on February 21.