The cabinet called for cooperation against market speculators and said that it was pleased with OPEC’s decision to keep output unchanged.
Saudi Arabia cut prices for crude sold to Asia in four of the past five months, part of its strategy in a fight for market share against non-OPEC producers.
Both U.S. crude and Brent have fallen for five straight months.
Raysut will try offset the impact of higher gas prices by making other cost reductions, improving efficiency and restructuring its own prices, according to a bourse filing.
The government plans to introduce hikes to gas prices in 2015.
The payment brings the amount Egypt has returned to Qatar to $6 billion, leaving $500 million outstanding.
Nearly half of Pakistan’s electricity is generated by gas.
Oil prices have fallen by more than a third since June mainly due to increasing production in North America from shale oil.
The Egyptian authorities have been negotiating with a number of international energy firms to improve the price which they are paid for gas.
Cutting output unilaterally would effectively mean for OPEC, which accounts for a third of global oil output, a further loss of market share to North American shale oil producers.
Kuwait’s stand comes as Gulf OPEC members reached a consensus to not cut output to stem oil price fall.
Al Naimi did not specify if the Gulf countries were in favour of a output cut ahead of a key OPEC meeting on November 27.
OPEC leader Saudi Arabia signalled on Wednesday it was unlikely to push for a major change in oil output.
The complex had been scheduled to be completed in late 2016, but industry sources said that it faced delays of six to 12 months because work on associated infrastructure was behind schedule.
Oil ministers from the Organization of the Petroleum Exporting Countries (OPEC) meet on Thursday in Vienna.
Saudi has kept the market guessing about its response to crude’s fall amid rapidly rising U.S. shale output.
Oil prices have fallen 30 per cent since June to below $80 per barrel.
Key will be what OPEC’s biggest producer, Saudi Arabia, decides, with some analysts expecting no price supporting action from the Kingdom.
Saudi’s oil minister brushed off questions about tumbling oil prices and surplus supplies.
The company plans to invest in a new refinery and a clean fuels project, its chief executive said.
WAM also cited Mazroui as saying that lower oil prices “will not constitute a disaster for the UAE”, noting that the UAE has managed to diversify its economy away from oil.
The Fadhili gas plant is due to be in operation by the third quarter of 2018.
Petrochemical revenues from the region grew by $6 billion between 2012 and 2013, increasing 7.3 per cent, a new report shows.
Iran’s oil minister will meet his Saudi counterpart in Vienna to persuade the oil giant for cuts in oil production and supply, state news agency said.
Oil prices have fallen by 30 per cent since June to around $80 a barrel, alarming some OPEC members.
In the past two weeks, Zanganeh has visited Gulf Arab states Qatar, Kuwait and the UAE in a bid to win support for action to stabilise oil markets.
The funds will be used by Kayan to fund an increase in working capital and complete factories under construction.
Kufpec is responsible for exploration, development and production of crude oil and natural gas outside Kuwait.
Aramco produces almost 9.5 million barrels a day.
Saudi Arabia shipped 6.722 million bpd of crude in September, up from 6.663 million in August but lower than July’s 6.989 million, data showed.