Kuwait Plans Big Oil Project Spending
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Kuwait plans to spend some $30 billion  to $40 billion to upgrade its energy sector, and to increase  oil production capacity 60 percent to four million barrels per  day by 2020, top oil officials said in remarks published in  local newspapers on Sunday.
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ABU DHABI Saudi Arabia, Kuwait and the United Arab Emirates vowed Sunday to go on expanding their production capacity to deflate record oil prices of above $53 a barrel, and Saudi Arabia, the biggest exporter, said it could bring on 1.5 million barrels a
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Kuwait on Tuesday called on OPEC to raise official oil production quotas by a token 500,000 barrels a day to help further calm world oil markets.
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Norwegian petroleum companies Statoil ASA and Norsk Hydro ASA elbowed into the global fray for oil yesterday with a plan to form a state-controlled giant that would be the world's largest offshore oil producer.
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VIENNA, Austria - OPEC will increase its oil production by 1 million barrels a day later this year in a move widely viewed as more symbolic than significant - given that the cartel is already exceeding the new quota.    Kuwaiti Oil Minister Sheik Ahmad Fahad al-Ahmad al-Sabah said Wednesday the cartel agreed to the decision to raise output by nearly 4 percent, adding it would take effect Nov...
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THE UAE and Kuwait plan to increase oil production capacity by nearly 3,00,000 bpd and 2,00,000 bpd respectively in the short term in a bid to stabilise the market, which has been rocked by high oil prices touching $53 per barrel prior to the week end.
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Anglo-Dutch energy company Royal Dutch-Shell will boost capital spending to $15 billion a year during 2004-06 to build proven reserves.
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By Nancy Oteifa, Kuwait Times  Dec. 13--KUWAIT -- The Minister of Finance Bader Al-Humaidhi noted that "the production of petrochemicals in the GCC countries increased from 18 million tonnes in 1997 to 38 million tonnes in 2004.
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Kuwait's Emir Sheikh Sabah al-Ahmad al-Sabah starts a six-day official visit to Britain for talks expected to focus on defence and economic matters.
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No. 3 US oil company ConocoPhillips (COP.N: Quote, Profile, Research) on Wednesday forecast higher capital spending in coming years and reaffirmed its production targets, banking on rising output in the Asia-Pacific region.
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Major Gulf oil producer Kuwait will  back a hike of 1 million barrels per day in OPEC's output  ceiling if crude prices remain at record levels, a move that  would bring the cartel's formal production limits in line with  actual supplies.
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Tripoli sets outs transparent bidding process for foreign firms to woo investment for sanctions-hit oil sector. By Hassen Zenati - TRIPOLI.
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Major Gulf oil producer Kuwait will back a hike of 1 million barrels per day in OPEC's output ceiling if crude prices remain at record levels, a move that would bring the cartel's formal production limits in line with actual supplies.
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The kingdom&#39;s oil reserves, the world&#39;s largest, could increase by almost 77 per cent to top 461 billion barrels in a few years, the country&#39;s oil minister said Sunday.
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VIENNA, Austria - OPEC will increase its oil production target by 1 million barrels a day later this year in a move widely viewed as more symbolic than significant, given that the cartel has been exceeding the new output limit since the beginning of the year.    Kuwaiti Oil Minister Sheik Ahmad Fahad al-Ahmad al-Sabah said Wednesday the cartel agreed to the decision to raise output by nearly 4 percent, adding it would take effect Nov...
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Saudi Arabia, the world&#39;s largest oil exporter, may expand production capacity by 30 percent within two years to prevent shortages, the country&#39;s oil minister said.
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Three Gulf countries -- the United Arab Emirates (UAE), Kuwait and Saudi Arabia -- promised Sunday to increase their oil output capacity to help stabilize world prices, the official WAM news agency reported.