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Kuwait to spend $30bn to increase oil output by 40%

Summary by AGBI
Kuwait Petroleum targets 4m bpd Investment in exploration Development needed in fields Kuwait is planning to expand its oil production capacity by up to 40 percent, despite a bearish outlook for global demand and years of stagnant growth. Khaled Al Sabah, managing director at the Kuwait Petroleum Corporation (KPC) and CEO of Kuwait Oil Tanker Company, told an energy conference last week that the Gulf state plans to invest about $30 billion to in…
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