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 March 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Energy

POSH may raise $311 Mln in Singapore IPO

PACC Offshore Services Holdings (POSH) could raise at least S$388.27 million ($311 million) after pricing its initial public offering near the bottom of the pricing range indicated earlier,

BOEM gives more time to submit plans OCS

The Bureau of Ocean Energy Management (BOEM) announced today the publication of its Final Rule to extend time requirements for submitting a Site Assessment Plan

Putin set on defusing Ukraine crisis

Foreign ministers from East and West will try to defuse the Ukraine crisis on Thursday in Geneva, once frequently the scene of Cold War negotiations, but will risk

Maritime Safety

Shipowners to Become Liable for Costs of Wreck Removal

Shipowner liability is on the horizon as the Nairobi International Convention on the Removal Wrecks will enter into force on 14 April 2015 following the deposit,

Coast Guard Pacific Area Command Changeover

The US Coast Guard informs that Rear Adm. Charles W. Ray will relieve Vice Adm. Paul F. Zukunft  (US Coast Guard Commander designate) as Commander, Coast Guard

KVH Precision Sensors for Geodetics' Inertial Navigation Systems

KVH Industries, Inc.,  a leading manufacturer of high performance fiber optic-based inertial sensors and gyros has entered into a strategic partnership with Geodetics Inc.

 
 
Maritime Security Naval Architecture Offshore Oil Pod Propulsion Salvage Ship Electronics Ship Repair Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | 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: 0.1010 sec (10 req/sec)