News tagged "Capacity"

Saudi Aramco plans US$ 40 mn annual investment for next decade to maintain hydrocarbon capacity, production levels

Saudi Aramco plans US$ 40 mn annual investment for next decade to maintain hydrocarbon capacity, production levels

29th August 2014

As per reports in Reuters, Saudi Aramco, the world's biggest oil producer, plans to invest US$ 40 billion a year over the next decade to keep oil production capacity steady and double gas production, Chief Executive Khalid Al-Falih said. State-owned Aramco sees more capital going into offshore projects and expects rising costs across the oil sector to underpin oil prices, Al-Falih told a conference.Oil prices fell to a 14-month low of US$101.07 last week as global demand growth weakens, even as production ramp ups in several places create a glut of oil.[..]

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Kuwait raises oil output capacity

8th April 2014

Kuwait has increased its oil production capacity to 3.3 million barrels of oil a day (bpd) and is hoping to reach 3.5m bpd in 2015, the head of its state oil company said on Monday. Kuwaiti officials have previously said that capacity was around 3.1-3.2m bpd.[..]

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