Kuwait to Invest $50 Billion to Boost Oil Production Capacity ...Middle East

Kuwait, one of the top OPEC producers in the Middle East, plans to invest as much as $50 billion to raise its oil production capacity to above 3 million barrels per day (bpd) over the next five years, Kuwait Petroleum Corporation’s deputy chairman and CEO, Shaikh Nawaf Al-Sabah, has said.  Kuwait is “planning to invest $9 to $10 billion annually in the next five years” to increase oil production capacity, Arabian Gulf Business Insight (AGBI) quoted Al-Sabah as saying.  Kuwait’s crude oil production averaged 2.415…

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