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Kuwait

KNPC plans gas production increase to 18.3 million cylinders by 2027
Kuwait National Petroleum Company aims to boost gas production to meet domestic demand driven by demographic growth and new residential projects.
Kuwait in talks for 1.5 GW battery storage to ease grid pressure
Kuwait is preparing a battery storage project with a capacity of up to 6 GWh to stabilise its power grid and address rising electricity demand.

OPEC production uncertainty keeps global oil market from deeper slide

As Brent hovers near $60, growing opacity around OPEC’s output restrains a steeper decline in crude prices amid surplus warnings by the International Energy Agency.
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Kuwait signs $489mn deal with Kuzu for wastewater treatment plant
Kuwait’s Ministry of Public Works has signed an agreement with Turkish company Kuzu to build a wastewater treatment plant for the upcoming Al Mutlaa city in the north of the country.
Koweït découvre un champ gazier offshore de 28,3 milliards de m³
Kuwait Petroleum Corporation annonce une découverte majeure dans la zone offshore avec le champ de Jazah, soutenant les efforts publics d’investissement dans les infrastructures énergétiques nationales.

Kuwait shortlists bidders for 500 MW photovoltaic solar project

The Kuwait Authority for Partnership Projects has shortlisted several companies for Phase III of the Al Dibdibah solar plant, with a net capacity of 500 MW.
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OPEC+ prepares for decisive debate on quotas amid surplus risk
Eight OPEC+ members will meet to adjust their quotas as forecasts point to a global surplus of 3 million barrels per day by year-end.
Kuwait launches tenders for 1.8GW energy and water project
The Kuwaiti government has invited three international consortia to submit bids for the first phase of the Al Khairan project, combining power generation and desalination.

Iran cuts 1.4 GW to Iraq, Baghdad speeds up regional interconnections

The suspension of 1,400 MW of electricity supplied by Iran to Iraq puts pressure on the Iraqi grid, while Tehran records a record 77 GW demand and must balance domestic consumption with regional obligations.
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KPC reduces its tenders to drive strategic growth
Kuwait Petroleum Corporation (KPC) adjusts its strategy by reducing its tenders while encouraging private sector participation to meet its long-term objectives by 2040, particularly in the petrochemical industry.
OPEC+ Significantly Raises Oil Quotas with Additional 548,000 Barrels
Major oil producers accelerate their return to the market, raising their August quotas more sharply than initially expected, prompting questions about future market balances.

Abu Dhabi Fund allocates $205mn to connect Gulf electricity grids

The Abu Dhabi Fund for Development has granted AED752mn ($205mn) financing to the Gulf Interconnection Authority to connect the electricity grids of the United Arab Emirates and Saudi Arabia, enhancing regional energy exchange.
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Grangemouth Closure: UK Oil Stocks at Highest Level in Three Years
The closure of the Grangemouth refinery has triggered a record increase in UK oil inventories, highlighting growing dependence on imports and an expanding deficit in domestic refining capacity.
Hormuz Threat: Producing Countries Face an Imminent Diplomatic Crisis
The potential closure of the Strait of Hormuz places Gulf producers under intense pressure, highlighting their diplomatic and logistical limitations as a blockage threatens 20 million daily barrels of hydrocarbons destined for global markets.

Kuwait launches tender for 1.1 GW solar power project

The Kuwait Authority for Partnership Projects has launched the tender for the 1.1 GW Al Dibdibah and Al Shagaya Phase III Zone 1 solar project, targeting pre-qualified international companies and consortia.
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Kuwait opens pre-qualification for two 500 MW solar projects
The Kuwait Authority for Public-Private Partnerships has launched a pre-qualification process to build two photovoltaic plants in the Al Jahra region.
ACWA Power acquires energy assets in Kuwait and Bahrain for $693 million
ACWA Power has signed an agreement to acquire stakes in power generation and water desalination assets in Kuwait and Bahrain for $693 million, further strengthening its position in the regional sector.

Indian Distributors Turn to LNG

Facing reduced domestic gas volumes, Indian gas distribution companies are increasing their purchases of regasified LNG, a move likely to raise costs for consumers.
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Vietnam: Nghi Son refinery seeks to import more Kuwaiti oil
Facing growing domestic demand, Vietnam's Nghi Son refinery seeks government approval to increase its Kuwaiti oil imports, thereby exceeding its annual tax-free quota.
Halliburton faces profit drop in North America in the third quarter
In the third quarter, Halliburton reports a 20% drop in net profit, mainly impacted by a cyberattack and slowing demand in North America, its key market.
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Kuwait: political reform and revival of the oil sector
The dissolution of Kuwait's parliament and the suspension of certain constitutional articles by Emir Sheikh Meshal augur an era of stability and dynamism for the country's energy sector, according to analysts.
Le Koweit souhaite augmenter sa production de pétrole d'ici 2035.
Kuwait Oil Company launches 1 GW solar project to diversify its energy mix
Kuwait Oil Company to deploy 1 GW of solar power, in collaboration with the Ministry of Electricity, to diversify the country's energy sources and reduce emissions
Kuwait Oil Company amplifie sa capacité solaire

Power generation: Iraq concludes agreements with the United States

Iraq has signed an agreement with the United States to increase its electrical capacity by 3,000 MW, with the aim of stabilizing its energy network.
Accords électricité Irak USA
OPEC+: Overproducers to submit compensation plans
OPEC+ countries with overproduction in the first quarter of 2024 must submit their compensation plans by April 30, a move designed to stabilize the market.
OPEC+ surproduction plans compensation
Kuwait: Energy continuity under the authority of the New Emir
Kuwait, facing energy challenges, sees its new Emir, Sheikh Mishal, ensuring continuity in a sector crucial to OPEC.

Al-Zour refinery in Kuwait restores production

The Al-Zour refinery in Kuwait recently restored its crude distillation units 1 and 2, allowing a significant increase in production to 345,000 barrels per day. This improvement has also allowed the country to take advantage of its local production by supplying a shipment of LSFO for domestic electricity.
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Oil up slightly after Opec members cut production
The oil market is catching its breath after prices rose following the surprise decision by some Opec+ members to cut production. The cut in production could have an impact on prices in the coming months, especially as the market expects Chinese demand to recover strongly.
Oil: a new drastic cut that benefits Russia
Opec+ members have reduced their oil production, causing prices to soar. This decision strengthens the Russian-Saudi couple and puts the United States in difficulty.

Oil soars after surprise cuts by Opec members

Eight Opec+ members announced cuts in oil production as early as May, which sent oil prices soaring. This decision aims to bring prices back up after the recent fall, and shows that Opec+ is ready to defend a floor price well above $80 a barrel.
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Oil soars after surprise production cut by Opec countries
Oil prices rose after eight OPEC+ countries announced a voluntary cut of more than one million barrels per day through the end of the year, signifying an actual reduction in supply and a tightening of the market. Brent and WTI prices recorded their strongest increases in a year.
Kuwait: Kuwait Oil Company announces “state of emergency
The Kuwait Oil Company has declared a "state of emergency" after an oil leak in the west of the country. Although no injuries were reported and oil production was not affected, environmentalists denounce a "recurring problem" in the country.

Arabian Drilling wants to Produce More

In Saudi Arabia, Arabian Drilling intends to expand its business to meet the growing demand for oil and gas. The company intends to invest in new drilling rigs.
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KIPCO and QPIC Merge
Kuwait Projects Company (KIPCO) investors approve a merger with Qurain Petrochemial Industries Company (QPIC).
Saudi Arabia – Kuwait: Increase in Free Zone Production