How business, doctors and journalists prey on your food anxieties I
How business, doctors and journalists prey on your food anxieties I
How business, doctors and journalists prey on your food anxieties I
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SPECIAL ADVERTISING SUPPLEMENT P.6 „<br />
I<br />
Crude oil producti<strong>on</strong> during the first<br />
quarter of 1995 was maintained at 2<br />
mil!i<strong>on</strong> barrels a day, the same as in<br />
the last quarter of 1994 . The spot<br />
price of Kuwait crude averaged<br />
$15 .30 per barrel, an increase of 11 %<br />
above the 1994 average .<br />
Besides potentialiy substantial<br />
expansi<strong>on</strong>, there is also the possibility<br />
in the near future of foreign<br />
participati<strong>on</strong> in domestlc oil<br />
producti<strong>on</strong> <str<strong>on</strong>g>and</str<strong>on</strong>g> explorati<strong>on</strong> . Some<br />
recent reports indicate plans to invest<br />
uo to $15 billi<strong>on</strong> over the next tan<br />
years to boost crude oil producti<strong>on</strong><br />
capacity <str<strong>on</strong>g>and</str<strong>on</strong>g> exp<str<strong>on</strong>g>and</str<strong>on</strong>g> downstream<br />
operati<strong>on</strong>s .<br />
There should be a decisi<strong>on</strong> shortly<br />
<strong>on</strong> allowing foreign oil companies ;o<br />
participate in explorati<strong>on</strong> <str<strong>on</strong>g>and</str<strong>on</strong>g> producti<strong>on</strong><br />
operati<strong>on</strong>s for the first time since 1975 .<br />
The Oil Minister has indica:ed that the<br />
plan is to Invite bids from properly<br />
qualified internati<strong>on</strong>al oil companies by<br />
open tender, <str<strong>on</strong>g>and</str<strong>on</strong>g> that the acreage or :<br />
offer will not include any already<br />
discovered oil-bearing structures .<br />
Foreign companies would be<br />
resp<strong>on</strong>sible for the technical <str<strong>on</strong>g>and</str<strong>on</strong>g><br />
financial r,sks of their activities .<br />
Following the completi<strong>on</strong> of repairs<br />
to Mina Al-Ahmadi refinery's third<br />
The !mpressive Kuwait parliamentary builtling-nome of the Natioral assemblyy<br />
crude distiGati<strong>on</strong> unit last year. the<br />
upgrading of facilities there <str<strong>on</strong>g>and</str<strong>on</strong>g> at<br />
Mina Abdullah <str<strong>on</strong>g>and</str<strong>on</strong>g> Shuaiba Is likely to<br />
c<strong>on</strong>tinue, together with the l<strong>on</strong>ger<br />
term aim of exp<str<strong>on</strong>g>and</str<strong>on</strong>g>ing capacity<br />
outside the countryThere is likely to be a c<strong>on</strong>siderab .e<br />
growth in KPC's internati<strong>on</strong>al<br />
operati<strong>on</strong>s . In Europe it already markets<br />
400,000 barrels a day through its 6,400<br />
08 petrol stati<strong>on</strong>s, <str<strong>on</strong>g>and</str<strong>on</strong>g> an expansi<strong>on</strong> in<br />
refinery capacity from 130,000 barrels a<br />
day to 300,000 barrels a day is<br />
envisi<strong>on</strong>ed .<br />
There are hopes that up to 400,000<br />
barrels a day refin :ng capacity will<br />
become available <strong>on</strong> a joint-venture<br />
basis in Asia . Talks are under way with<br />
1*<br />
I~ .P .LLa)alsud~uGl.a :9i iFYL<br />
N~ila 14lexetmunicatlava Ca<br />
. (ICS .C )<br />
companies in China, Ind<strong>on</strong>esia, South<br />
Korea <str<strong>on</strong>g>and</str<strong>on</strong>g> Thail<str<strong>on</strong>g>and</str<strong>on</strong>g> .<br />
Letters of intent for refinery<br />
projects in India <str<strong>on</strong>g>and</str<strong>on</strong>g> Pakistan have<br />
already beerr signed . In India the link is<br />
withh the state-owned Indian Oil<br />
Corporati<strong>on</strong> (10C) for a joint-venture<br />
refinery with an initial capaciry of<br />
120,000 barrels a day <str<strong>on</strong>g>and</str<strong>on</strong>g> possible<br />
expansi<strong>on</strong> to 250,000 barrels a day<br />
KPC <str<strong>on</strong>g>and</str<strong>on</strong>g> IOC would each hold a 26%<br />
stake, with the remaining shares to be<br />
offered to the public . In Pakistan the<br />
partner will be the State Oil Company,<br />
<str<strong>on</strong>g>and</str<strong>on</strong>g> the Initiat refining capacity would<br />
also be 120,000 barrels a day .<br />
WRITTEN BY STUART ARNOLD AND<br />
PRODUCED BY ADIL JILLA DF MEIAC, UK .<br />
ALWAYS AHEAD IN A<br />
FAST MOVING WORLD<br />
l 1<br />
6<br />
P.O .Boz 22244 SafoI,130B3 Kuwait Te1 :4842000<br />
2046 1 673409,<br />
http://legacy.library.ucsf.edu/tid/agf97d00/pdf