Louisiana Light • 2 days | 90.66 | -1.96 | -2.12% | |||
Bonny Light • 2 days | 93.95 | -2.28 | -2.37% | |||
Opec Basket • 2 days | 94.99 | -1.36 | -1.41% | |||
Mars US • 23 hours | 86.97 | -1.92 | -2.16% | |||
Gasoline • 12 mins | 2.361 | -0.052 | -2.13% |
Bonny Light • 2 days | 93.95 | -2.28 | -2.37% | |||
Girassol • 2 days | 95.13 | -2.13 | -2.19% | |||
Opec Basket • 2 days | 94.99 | -1.36 | -1.41% |
Peace Sour • 15 hours | 83.32 | -1.97 | -2.31% | |||
Light Sour Blend • 15 hours | 83.82 | -1.97 | -2.30% | |||
Syncrude Sweet Premium • 15 hours | 92.42 | -1.97 | -2.09% | |||
Central Alberta • 15 hours | 81.62 | -1.97 | -2.36% |
Eagle Ford • 2 days | 85.30 | -1.97 | -2.26% | |||
Oklahoma Sweet • 2 days | 85.25 | -2.00 | -2.29% | |||
Kansas Common • 7 days | 84.00 | +3.25 | +4.02% | |||
Buena Vista • 7 days | 98.88 | +2.54 | +2.64% |
OPEC+ supply cuts, combined with…
Europe looks set to avoid…
As part of a huge expansion plan the Kuwait National Petroleum Company (KNPC), the downstream refining division of the Kuwait Petroleum Company (KPC), has announced that it will invest $32 billion in several large projects by 2019.
According to the acting corporate planning manager Khaled al-Khayyat, the projects will include a permanent LNG importing facility, increasing the current import capacity from 500 million standard cubic feet a day (scfd) to 3 billion scfd.
An expansion to their crude oil refining facilities will also increase refining capacity from the current level of 936,000 barrels a day, to 1.4 million barrels a day.
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Farouk al-Zanki, the CEO of the Kuwait Petroleum Company, also stated that they will invest a total of $100 billion in a few major projects, which include the construction of three world class refineries in the Far East.
The Kuwait Oil Company, the upstream division of the KPC, also plans to invest $40 billion over the next six years, which Mazen Al-Sardi, KOC deputy managing director for Technical Services, says will help achieve the goal of increasing Kuwait’s overall sustainable oil production capacity.
By. Joao Peixe of Oilprice.com
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