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China's Sinopec wins oil deal from Kuwait
Kuwait City (AFP) April 5, 2009 State-owned Kuwait Oil Co. (KOC) announced on Sunday that it has awarded a 403-million-dollar contract to China Petroleum and Chemical Corp. (Sinopec) to build five oil and gas rigs. The five-year deal is part of Kuwait's long-term strategy to boost the Gulf state's oil production capacity to four million barrels per day by 2020, KOC chairman Sami al-Rasheed said in a statement. Kuwaiti oil executives said last week that the emirate has succeeded in raising its oil output capacity to three million bpd and was forging ahead with its long-term strategy despite a slump in the price of oil. The fourth largest OPEC producer, which sits on about 10 percent of global crude reserves, Kuwait currently pumps around 2.2 million bpd. Share This Article With Planet Earth
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Analysis: Russian-Turkish energy ties 
Washington, April 2, 2009 The reverberations of January's natural gas dispute between Russia and Ukraine continue to resound throughout European energy markets. Europe, alarmed by the vulnerability of its supplies, is sounding out new possibilities for transmission of natural gas, including the proposed Nabucco pipeline. Russia, in its turn, is seeking bypass routes around its increasingly nationalist southern neighbor. |
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