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According to the same sources, in the million barrels, explaining that in the face was buying about 1.3 million barrels per day
face of the increasing European demand of pressures to reduce the supply of the of refined oil products from Russia until the
for fuel products, Kuwait, which intends company’s operations with the required fuel, end of last year, half of which was diesel fuel.
to increase the flow of diesel to Europe it will inevitably affect achieving the targeted ARAB TIMES
and double its shipments of jet fuel, had to production capacity of crude oil.
sacrifice reducing diesel supplies to Kuwaiti The sources added that the gas production
oil companies, pointing out that the Kuwait goals are to maintain the KOC capacity BIOFUELS
National Petroleum Company asked fellow oil to produce more than 560 million cubic
companies including the Kuwait Oil Company meters per day, and this matter constitutes an Deal signed for Nigerian
to reduce its use of diesel in its operations to additional challenge for the company in the
meet the needs of the local market and global face of the lack of supply of the required fuel biofuel refinery
demand. for its operations.
KOC sources said the request to reduce the Note that Kuwait plans to increase exports Kebbi State Government on Wednesday
use of diesel in the company’s operations to of diesel and jet fuel to Europe this year, five said core investors, 3D Investment
provide the needs of the European market will times over what it was in 2022, to reach about Company, NNPC and the state have signed a
have a negative impact on KOC operations 50 thousand barrels per day, and Kuwait also memorandum of understanding for the final
in well services, which will reflect on vision wants to double sales of jet fuel to nearly 5 take-off of a refinery for biofuel production in
to increase the oil production and increase million tons. Gwazawa, Danko Wasagu Local Government
operations in drilling rigs. The KNPC sources said the Al-Zour Area of the state.
The sources said the number of KOC refinery is considered the cornerstone of The Deputy Governor, Alhaji Samaila
drilling rigs stands at more than 65, and meeting the growing demand for energy, as Yombe Dabai, while briefing journalists at the
the number of well services operations is the facility will provide, when operating at full Cabinet Office Conference Hall yesterday said
expected to rise during the current year to capacity, about 615 thousand barrels per day, the core investors had moved to the field to
more than 20,000 to meet the demands and pointing out that the refinery succeeded in commence the setting up of the refinery.
achieve the goals of increasing oil production, sending its first exports of diesel and jet fuel The project coordinator, Professor
as these goals require an increase in the use late last year. Abubakar Kaoje, said the contract between
of the diesel product, pointing out that the The European Union faced fuel pressure Kebbi and the core investors was for a period
repercussions of the Russian- Ukrainian war starting next February 5, when a ban on of 30 years.
will increase the expected losses due to the importing refined petroleum products from “On equity share, Kebbi State has 5, NNPC
inability of the country’s refineries to provide Russia came into force, as part of European 25, core investors 70 per cent,” he said.
the diesel requirements for the local market. sanctions against Russia. DAILY TRUST
The sources indicated that the production According to Bank of America, diesel
goals of the Kuwait Oil Company is to prices may rise in the first quarter of this year
reach 2.8 million barrels per day, as the to $200 a barrel, because the embargo may
current production does not exceed 2.65 lead to a global shortage. The European Union

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