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2014-04-18 18:15:00

KNPC AWARDS $7.2B

KNPC AWARDS $7.2B

Kuwait National Petroleum (KNPC) has awarded a combined $7.2bn contracts to five South Korean firms for increasing capacity and improve environmental standards at two oil refineries in the country.

As part of a joint venture with Hyundai Heavy Industries and Fluor, Daewoo Engineering & Construction has received an order for Mina Abdullah refinery, which is worth $1.13bn each for the three companies.

Samsung Engineering, along with Petrofac and Chicago Bridge & Iron, has secured a separate $1.62bn order for the same refinery, reports Reuters.

GS Engineering & Construction, SK Engineering & Construction and Japan's JGC have received an order for Mina Al-Ahmadi refinery.

According to GS Engineering and SK Engineering, the order for the refinery is worth about $1.66bn for each of the three companies.

energy-business-review.com

Tags: KUWAIT, KNPS, OIL

Chronicle:

KNPC AWARDS $7.2B
2018, June, 22, 13:10:00

THE LARGEST VENEZUELA'S OIL

U.S. EIA - Venezuela holds the largest oil reserves in the world, in large part because of the heavy oil reserves in the Orinoco Oil Basin. In addition to oil reserves, Venezuela has sizeable natural gas reserves, although the development of natural gas lags significantly behind that of oil. However, in the wake of political and economic instability in the country, crude oil production has dramatically decreased, reaching a multi-decades low in mid-2018.

KNPC AWARDS $7.2B
2018, June, 22, 13:05:00

U.S. DEFICIT UP FROM $116.1 BLN TO $124.1 BLN

U.S. BEA - The U.S. current-account deficit increased to $124.1 billion (preliminary) in the first quarter of 2018 from $116.1 billion (revised) in the fourth quarter of 2017, according to statistics released by the Bureau of Economic Analysis (BEA). The deficit was 2.5 percent of current-dollar gross domestic product (GDP) in the first quarter, up from 2.4 percent in the fourth quarter.

KNPC AWARDS $7.2B
2018, June, 22, 13:00:00

EUROPE'S NUCLEAR INVESTMENT : €50 BLN

WNN - There are 126 operational power reactors in 14 EU Member States, providing more than one-quarter of the bloc's total electricity production. In its Communication on the Nuclear Illustrative Program (PINC) published last year, the European Commission expects nuclear to maintain its significant role in Europe's energy mix up to 2050. This would require investment of some EUR40-50 billion (USD46-58 billion) in nuclear LTO by 2050.

KNPC AWARDS $7.2B
2018, June, 20, 13:15:00

OIL PRICE: ABOVE $75

REUTERS - Benchmark Brent crude LCOc1 was up 50 cents at $75.58 a barrel by 0835 GMT. U.S. light crude CLc1 was 50 cents higher at $65.57.

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