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Oil & Gas
- Thread starter JayS
- Start date
is it me or does that stoploss seem relatively small given the extreme of your target? considering we have never hit 78 before...
Kuwait plans to boost output by 2010
By Stanley Carvalho, Staff Reporter
Abu Dhabi: Opec member Kuwait plans to raise crude oil output to three million barrels per day by 2010 and open up some oil fields for international companies, a top government official said.
Jamal Al Nouri, Managing Director, International Marketing, Kuwait Petro-leum Corporation, also said the country will lift its refining capacity to 1 million barrels per day by 2010.
"Upstream, Kuwait will attain production capacity of at least 3 million barrels per day by 2010 within the framework of a longer term target of 4 million barrels per day by 2020," he said at the Middle East Petroleum and Gas Conference.
Kuwait currently produces 2.6 million barrels per day of crude oil of which nearly 1 million barrels per day is refined. Kuwait holds more than 10 per cent of the world's proven reserves.
"Kuwait will open up its northern fields to international consortia which include major Asian consuming nations," he said.
The country has made some light crude discoveries recently and these new discoveries will add 10-13 billion barrels to Kuwait's current 98.6 billion barrel proven reserves.
"We will expand total refining capacity to over 1 million barrels per day by 2010 and 1.5 million barrels per day by 2020. The fourth refinery to supply fuel for power generation will have a capacity of 400,000 to 600,000 bpd by 2010, he said."
Moreover, Kuwait will participate in joint venture projects in Asia in refining, petrochemicals and infrastructure.
By Stanley Carvalho, Staff Reporter
Abu Dhabi: Opec member Kuwait plans to raise crude oil output to three million barrels per day by 2010 and open up some oil fields for international companies, a top government official said.
Jamal Al Nouri, Managing Director, International Marketing, Kuwait Petro-leum Corporation, also said the country will lift its refining capacity to 1 million barrels per day by 2010.
"Upstream, Kuwait will attain production capacity of at least 3 million barrels per day by 2010 within the framework of a longer term target of 4 million barrels per day by 2020," he said at the Middle East Petroleum and Gas Conference.
Kuwait currently produces 2.6 million barrels per day of crude oil of which nearly 1 million barrels per day is refined. Kuwait holds more than 10 per cent of the world's proven reserves.
"Kuwait will open up its northern fields to international consortia which include major Asian consuming nations," he said.
The country has made some light crude discoveries recently and these new discoveries will add 10-13 billion barrels to Kuwait's current 98.6 billion barrel proven reserves.
"We will expand total refining capacity to over 1 million barrels per day by 2010 and 1.5 million barrels per day by 2020. The fourth refinery to supply fuel for power generation will have a capacity of 400,000 to 600,000 bpd by 2010, he said."
Moreover, Kuwait will participate in joint venture projects in Asia in refining, petrochemicals and infrastructure.