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Kuwait Researchers Forecast Global Conventional Crude Oil Production Will Peak in 2014; New Multicyclic Hubbert Model

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Scientists from Kuwait University and Kuwait Oil Company are forecasting that world conventional crude oil production will peak in 2014—almost a decade earlier than some other predictions. According to the analysis, the ultimate reserve of these countries is 819 BSTB and their future recoverable oil is 252 BSTB. MMSTB/D in 2006.

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

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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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Polestar hits 2021 sales target of 29,000 vehicles, up 185% y-o-y

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In the first half of 2022, Polestar plans to add Spain, Portugal and Ireland to its European market footprint, and enter the Middle East with presence in the UAE, Kuwait and Israel. Polestar increased its global presence from 10 to 19 markets in 2021, with growth in Europe and Asia Pacific.

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Consortium developing green hydrogen megaproject in Oman

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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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Oil price tumbles after OPEC releases 2015 forecast

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Futures for US crude also are down dramatically. The exceptions, the news agency reports, are Kuwait and Qatar. And yet on Nov. 27, OPEC refused to lower its production levels below 30 million barrels a day, adding to the oil glut that started with the US boom in high-quality shale oil.

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Opinion: How Much Longer Can OPEC Hold Out?

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The Saudis, along with Kuwait and UAE have been defending the decision of not reducing the OPEC production levels in order to retain their global market share. He is author of “Oil—Past, present, future—An Indian Perspective”. Source: [link]. Market Background Oil'

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Oil Prices Running Out Of Reasons To Rally

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On top of that, Kuwait’s envoy to OPEC said that Qatar, Kuwait and Oman were also complying with the cuts. In an interview with Bloomberg, Kuwait’s Nawal Al-Fezaia said that those countries already told customers that cuts were imminent. mb/d in December to 2.7 mb/d by the end of January. told Bloomberg.