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China's Sinopec wins oil deal from Kuwait
Kuwait City (AFP) April 5, 2009 State-owned Kuwait Oil Co. (KOC) announced on Sunday that it has awarded a 403-million-dollar contract to China Petroleum and Chemical Corp. (Sinopec) to build five oil and gas rigs. The five-year deal is part of Kuwait's long-term strategy to boost the Gulf state's oil production capacity to four million barrels per day by 2020, KOC chairman Sami al-Rasheed said in a statement. Kuwaiti oil executives said last week that the emirate has succeeded in raising its oil output capacity to three million bpd and was forging ahead with its long-term strategy despite a slump in the price of oil. The fourth largest OPEC producer, which sits on about 10 percent of global crude reserves, Kuwait currently pumps around 2.2 million bpd. Related Links Powering The World in the 21st Century at Energy-Daily.com
Analysis: Oil and Gas Pipeline Watch
Washington DC (UPI) Apr 29, 2009Iran is not excluded entirely from emerging as a possible natural gas supplier to the Western-backed Nabucco pipeline, U.S. representatives said. Turkey has a key role to play as an important energy hub in the European drive to diversify regional natural resource transit options, Czech officials said. The Calgary-based TransCanada Corp. began its permit process for an Alaska gas pipeline by submitting plans to a U.S. energy commission for review. |
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