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. Ibrahim Nashawi and colleagues point out that rapid growth in global oil consumption has sparked a growing interest in predicting “peak oil”—the point at which oil production reaches a maximum and then declines. World crude oil production model. Credit: ACS, Nashawi et al. Click to enlarge.

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

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

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Global Gas Prices | Hybrid Sales

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Some expect both to remain steady due to global economic conditions while others point to the return of $3/gallon gas (in the states) fueled mainly by an increase in foreign demand. Kuwait. sales of hybrid SUVs and other fuel efficient vehicles will prove interesting to watch this year, especially if fuel prices remain relatively low. Expert predictions about where oil and gas prices are headed vary widely.

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IEA: non-OPEC oil supply tops 43 mb/d for first time in decades; global demand to reach 92.4 mb/d in 2014

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The International Energy Agency’s (IEA’s) Oil Market Report (OMR) for December raised the estimate of global oil demand for 2013 by 130,000 barrels per day (130 kb/d) to 91.2 Global demand is now seen advancing by 1.2 Global oil supplies increased by 310 kb/d in November to 92.3 Renewed disruptions in Libya and smaller drops in Nigeria, Kuwait, the United Arab Emirates and Venezuela more than offset higher output in Iran, Iraq and Angola.

Borgward expanding to the Middle East; westwards from China

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Borgward will systematically continue to globalize its activities by entering the markets of Middle Eastern countries such as Bahrain, Kuwait, Qatar, the United Arab Emirates (UAE), and Iran. In accordance with this roadmap, the company will expand westwards from China before entering the European market. As announced, we will boost growth further and open up new markets.

Study estimates ~4M children worldwide develop asthma each year because of NO2 air pollution

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The authors combined a global dataset of ambient NO 2 (modelled from ground-level monitors, satellite data, and land use variables such as road networks) with data on population distribution and asthma incidence to estimate the number of new traffic pollution-related asthma cases in children aged 1-18 years. Two-thirds of traffic pollution-related asthma cases occurred in urban centres globally, and when suburbs were included this proportion increased to 90% of cases.

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2018 Environmental Performance Index: Air quality top public health threat

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São Tomé and Príncipe, Kuwait, and Timor-Leste also increased their ranking due to several factors, including the establishment of areas protecting biodiversity and habitat. The 2018 EPI offers not only a snapshot of where countries stand today but also reflects important trends in environmental performance at both the national and global levels. EPI and Global Sustainability Data.

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Opinion: How Much Longer Can OPEC Hold Out?

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With announcement of a historic nuclear deal framework between Iran and six global powers: America, France, Britain, China, Russia and Germany on April2, 2015, there is a good possibility that Iranian crude oil exports will increase greatly after June 2015 when the final nuclear deal is signed. Nigeria is Africa''s largest oil producer and among the top 5 global exporters of LNG. by Gaurav Agnihotri for Oilprice.com.

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Oil price tumbles after OPEC releases 2015 forecast

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Add to that a new report from the US government’s Energy Information Administration (EIA), which also cut its 2015 forecast for growth in global oil demand by 240,000 barrels per day, down to 880,000 barrels per day. The exceptions, the news agency reports, are Kuwait and Qatar. by Andy Tully of Oilprice.com.

Opinion: Saudi Oil Strategy: Brilliant Or Suicide?

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In the last quarter of 2014, in the face of possible oversupply, Saudi Arabia abandoned its traditional role as the global oil market’s swing producer and therefore it role as unofficial guarantor of existing ($100+ per barrel) prices. The average price of Brent, the global benchmark, fell below the Saudis’ $80 floor in November, fell to $62.34 This increase in output occurs with the context of a narrow global demand opportunity. by Dalan McEndree for Oilprice.com.

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Opinion: OPEC Divorce And Self-Destruction Thanks To Saudi Oil Strategy?

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Together, the three quotes provide a framework for analyzing Saudi options heading into the December 4 OPEC meeting in Vienna and its choices vis-à-vis the OPEC outsiders (all members but Saudi Arabia and its Gulf Arab allies, Kuwait, UAE, Qatar): reconciliation, separation, or divorce. Annual export volume is based on the IEA’s monthly Oil Market Report’s Table 2 (Summary of Global Oil Demand) and Table 3 (World Oil Production). mmbl/day) equates to a 13 percent global share.

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Opinion: Saudis Could Face An Open Revolt At Next OPEC Meeting

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As the first anniversary of the Saudi decision approaches, it would be reasonable for OPEC outsiders—OPEC members, other than the Saudis and their Gulf Arab allies, Kuwait, UAE, and Qatar—to interpret Saudi policy shift as designed to serve Saudi interests and those of its Gulf Arab allies rather than their interests and those of OPEC in general. percent, during the same period; during the same period, OPEC output as a share of global output declined slightly, from 39.5

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Opinion: Is Russia Plotting To Bring Down OPEC?

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from a market for Russian crude and natural gas (via LNG) to a global competitor. into a major (potential) LNG competitor in global LNG import markets, and, via the U.S. by Dalan McEndree for Oilprice.com.

Chevron leveraging information technology to optimize thermal production of heavy oil with increased recovery and reduced costs

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Chevron is taking its technology learnings from Kern River and apply them to Duri and other major heavy oil fields globally, such as Wafra in the onshore Partitioned Neutral Zone (PNZ) between Kuwait and Saudi Arabia and in the Orinoco in Venezuela.

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