Kuwait: $44bn to ‘Upgrade’ Oil Industry

Monday, December 12, 2005
Kuwait has earmarked more than $44 billion over the next 15 years to upgrade its oil industry and boost output to 4 million bpd, according to a report on www.gulf-times.com. The country currently produces about 2.7 million bpd. The money will be spent on mega projects such as a large refinery and upstream projects to raise output, in addition to a number of large petrochemicals plants, he said. A number of projects are also in the pipeline to raise production at oilfields in south and southeast Kuwait, Oun said. State-owned Kuwait Oil Tanker Company this year signed contracts to build seven oil tankers of different sizes to modernize its fleet at cost of more than $600 million. – (Source: www.gulf-times.com)
Maritime Reporter August 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Energy

Brent Crude Slips Towards US$102

Brent crude fell towards $102 a barrel on Tuesday on concerns of slowing oil demand growth due to weak economic recoveries in China and Europe, although new unrest

Aker Solutions Update on Company Hive-Off

Aker Solutions informs updated unaudited financial information for the two companies - the new Aker Solutions and Akastor - that will be formed following the split

Nanotechnology & Big Data: New Review

A report commissioned by the Lloyd’s Register Foundation, reviewing the potential implications of nanotechnology on the safety and performance of engineering assets

Maritime Safety

EU Warship Provides Seychelles CG Training

EU Naval Force Warship 'FGS Berlin' has conducted local maritime capacity building in the Seychelles informs EUCAP Nestor. Three Local Maritime Capacity Building

USCG, National Park Service Rescue Sea Turtle

Members from the U.S. Coast Guard and National Park Service rescued a loggerhead sea turtle Sunday in Oregon Inlet. Watchstanders at Coast Guard Sector North Carolina

Videotel Updates 'Fire Fighting at Sea' Training

Maritime e-Learning provider Videotel, part of KVH Industries, says that it has launched an updated five-part series 'Fire Fighting At Sea', with the support and

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Navigation Port Authority Ship Electronics Ship Repair Ship Simulators Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1213 sec (8 req/sec)