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EIA: At least 9 new refinery projects to come online before end of 2023 in Asia and Middle East; 2.9 MMb/d

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In the International Energy Agency’s (IEA) June 2022 Oil Market Report, the IEA expects net global refining capacity to expand by 1.0 More recently, the 615,000 b/d Al Zour refinery in Kuwait—the largest in the country when it becomes fully operational—began initial operations earlier this year. million b/d in 2023.

Asia 418
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EIA: New refineries will increase global refining capacity in 2022 and 2023; China leads

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The International Energy Agency (IEA) estimates that global refining capacity decreased by 730,000 barrels per day (b/d) in 2021—the first decline in global refining capacity in 30 years. In the United States, refining capacity has decreased by about 1.1

Global 448
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Ethanol Producers Group Calls for Congress to Repeal International Indirect Land Use Provision in RFS2

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This was accompanied by a picture of convoys entering Iraq from Kuwait. The RFA followed that up later in the week with a second statement asserting that CARB and EPA failed to evaluate indirect petroleum GHG emissions related to reconstruction of Iraq and protection of the US oil supply.

Congress 170
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IEA: non-OPEC oil supply tops 43 mb/d for first time in decades; global demand to reach 92.4 mb/d in 2014

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The International Energy Agency’s (IEA’s) Oil Market Report (OMR) for December raised the estimate of global oil demand for 2013 by 130,000 barrels per day (130 kb/d) to 91.2 Renewed disruptions in Libya and smaller drops in Nigeria, Kuwait, the United Arab Emirates and Venezuela more than offset higher output in Iran, Iraq and Angola.

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Consortium developing green hydrogen megaproject in Oman

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An international consortium comprising OQ, which is the Sultanate of Oman’s global integrated energy company, InterContinental Energy, the leading dedicated green fuels developer, and EnerTech, a Kuwait government-backed clean energy investor and developer, is developing an integrated green fuels mega project in Oman.

Oman 218
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Borgward expanding to the Middle East; westwards from China

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Borgward will systematically continue to globalize its activities by entering the markets of Middle Eastern countries such as Bahrain, Kuwait, Qatar, the United Arab Emirates (UAE), and Iran. In accordance with this roadmap, the company will expand westwards from China before entering the European market.

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Opinion: How Much Longer Can OPEC Hold Out?

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OPEC (Organization of the Petroleum Exporting Countries) has been the most talked about international organization among investors, analysts and international political lobbies in the last few months. As per its state run oil company PDVSA, the country loses about $700 million a year with every $1 drop in the international oil price.