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Chevron sells 30% stake in Canadian Duvernay shale play to Kuwait Foreign Petroleum for $1.5B

Green Car Congress

Chevron Corporation’s indirect, wholly-owned subsidiary, Chevron Canada Limited, has reached an agreement to sell a 30% interest in its Duvernay shale play to Kuwait Foreign Petroleum Exploration Company’s wholly-owned subsidiary, KUFPEC Canada Inc.,

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Kuwait Petroleum, Sinopec in $9B refinery joint venture in China

Green Car Congress

The Chinese government recently granted final approval for a joint venture project between Kuwait Petroleum Corporation (KPC) and China Petroleum and Chemical Corporation (Sinopec), one of the world’s largest refiners, to build a world-class refinery and petrochemical complex in south China.

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EIA: At least 9 new refinery projects to come online before end of 2023 in Asia and Middle East; 2.9 MMb/d

Green Car Congress

More recently, the 615,000 b/d Al Zour refinery in Kuwait—the largest in the country when it becomes fully operational—began initial operations earlier this year. The 400,000 b/d Jizan refinery in Saudi Arabia reportedly came online in late 2021 and began exporting petroleum products earlier this year.

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EIA: New refineries will increase global refining capacity in 2022 and 2023; China leads

Green Car Congress

More recently, the 615,000 b/d Al Zour refinery in Kuwait—the largest in the country when it becomes fully operational—began initial operations earlier this year and the facility’s operators expect to increase production through the end of 2022.

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Oil is cheap, so Kuwait raised its own gas price to compensate

Green Car Reports

Cheap gasoline is good news for the economies of most countries, but not those that rely on oil exports. The sustained fall in global prices has led oil-producing countries to search for ways to keep their revenues up. In some cases, that means cutting back on cheap gas for their own citizens. DON'T MISS: Even Saudi Arabia vows to end its.

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From TechCrunch: $60K electric water toy lands $1M worth of preorders

Spark Powered

and one customer in Kuwait,” … Read in TechCrunch: [link]. Boundary Layer’s CEO and founder, Ed Kearney, told me the company has more than $1 million worth of preorders. “After being live for just three weeks we have slightly over $1 million worth of vehicles reserved, mostly to folks in the U.S.,

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Consortium developing green hydrogen megaproject in Oman

Green Car Congress

An international consortium comprising OQ, which is the Sultanate of Oman’s global integrated energy company, InterContinental Energy, the leading dedicated green fuels developer, and EnerTech, a Kuwait government-backed clean energy investor and developer, is developing an integrated green fuels mega project in Oman.

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