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

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High-capacity refineries require access to reliable sources of crude oil inputs to maintain higher utilization and to a sufficiently large pool of potential customers to supply. The refinery’s return is likely to decrease petroleum product prices and increase supply, particularly in south and southeast Asian markets.

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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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Global oil supplies increased by 310 kb/d in November to 92.3 Year-on-year, November supplies rose by 810 kb/d, as a 1.9 OPEC crude supply fell by 160 kb/d in November to 29.73 OPEC crude supply fell by 160 kb/d in November to 29.73 Global demand is now seen advancing by 1.2 mb/d in both 2013 and 2014, to reach 92.4

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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. trillion market by.

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Fusion Fuel Green partners with CCC to develop green hydrogen demonstrator plants in Middle East

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The companies plan to develop demonstrator plants in several countries in the region, namely Oman, Kuwait, and Qatar. CCC and Fusion Fuel have agreed to cooperate on projects involving the production of green hydrogen for potential clients in the refining and petrochemical industries in order to reduce their carbon footprint.

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Opinion: How Much Longer Can OPEC Hold Out?

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With its headquarters in Vienna, Austria, one of the mandates of 12-member OPEC is to “ensure the stabilization of oil markets in order to secure an efficient, economic and regular supply of petroleum to consumers, a steady income to producers, and a fair return on capital for those investing in the petroleum industry.” Source: opec.org).

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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. The objective of this study is to develop a forecasting model to predict world crude oil supply with better accuracy than the existing models.

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