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Kuwait announced that it would be increasing its oil output by 300,000 barrels per day (bpd) by mid-2009. That goal seems likely given its oil reserves and financial situation. (With Stratfor map)

Kuwaiti Oil Minister Mohammad al-Olaim on June 24 told visiting Japanese Minister of Economy, Trade and Industry Akira Amari that the Persian Gulf nation would increase its current oil production level of 2.6 million barrels per day (bpd) by 300,000 bpd by mid-2009. In addition, al-Olaim said Kuwait, which has the world’s fourth-largest oil reserves, would increase output capacity to 4 million bpd by 2020, according to a report by Kyodo news agency, which quoted unnamed Japanese officials. Kuwait also plans to invest $55 billion over the next five years to develop oil fields and construct refineries in order to meet these targets, according to the report.


Kuwait—Major Oil Fields-400 px
(click image to enlarge)


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