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

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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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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. World crude oil production model. Credit: ACS, Nashawi et al. Click to enlarge. Their study is in published the ACS journal Energy & Fuels.

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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

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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.

Asia 418
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EIA: New refineries will increase global refining capacity in 2022 and 2023; China leads

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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.

Global 448
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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.

Sale 341
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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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