Russian oil giant Lukoil is targeting new projects in the United Arab Emirated (UAE), Iran, Oman and Kuwait as it plans to expand its operations in the Middle East.
Kuwait’s refinery in Vietnam will begin operating in July 2018 with a capacity of 2,000b/d, according to Kuwait Petroleum International’s (KPI) CEO, Bakheet Al-Rashidi.
Kuwait is persistent to pursue its plans to add 0.5mb/d of oil production capacity to its national output as it prepares for the eventual expiration of the output quotas OPEC had adopted to help drain a global oversu ...
Kuwait's output cuts could reach between 146,000 and 148,000b/d, which is more than the reduction to which the member of the Organization for Petroleum Exporting Countries (OPEC) committed itself.
Saudi Arabia reduced oil production to less than 10mb/d, below its targeted level, and will consider renewing its pledge to cut crude output in six months.