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Pakistan, Kuwait to increase cooperation in oil, gas sector
ISLAMABAD: Pakistan and Kuwait have agreed to expand and strengthen the existing cooperation between the two countries in oil and gas sector to the mutual advantage besides stepping up linkages and inter-dependencies for allround development of the petroleum sector.
It was decided at a meeting held between Federal Minister for Petroleum & Natural Resources Amanullah Khan Jadoon and Kuwaiti Minister for Energy Shaikh Ahmad Fahad Al-Ahmad Al-Sabah here on Tuesday.
Both sides agreed to step up exchange of expert’s delegations to benefit from each other’s experiences and know-how in upstream and downstream oil & gas sector to their mutual advantage.
Mr Jadoon welcomed the Kuwaiti investment for the setting up of an oil refinery at Port Qasim and invited the Kuwaiti companies to take benefit of the abundant opportunities present in oil & gas sector. He told the Kuwaiti counterpart that the government was contemplating to set up more refineries in the country with a view to increasing the refining capacity from the present six million ton to 13 million ton per annum to meet the growing energy requirement. He also briefed him on the oil & gas upcoming projects in upstream and downstream sectors. He said that the government would also welcome Kuwaiti participation in the privatization of state-owned oil & gas units.
The Kuwaiti minister said that his country attaches great importance to its relations with Pakistan and hoped that bonds of fraternity and brotherhood will continue to grow further in the days ahead for the benefit of the two brotherly Muslim countries. He said that Pakistan could benefit from Kuwaiti experience in refining and exploration sectors. He expressed the hope that Kuwaiti companies would be willing to participate in the forthcoming privatization of Pakistan’s oil & gas companies.
U.S. crude oil refinery inputs averaged nearly 16 million barrels per day during the week ending June 16, up 138,000 barrels per day from the previous week”s average. Refineries operated at 93.3% of their operable capacity last week. Gasoline production increased last week compared to the previous week, averaging 9.35 million barrels per day, while distillate fuel production increased slightly, averaging nearly 4.2 million barrels per day.
The following is the unedited transcript of the news release from the Energy Information Administration.
Summary of Weekly Petroleum Data for the Week Ending June 16, 2006
U.S. crude oil refinery inputs averaged nearly 16.0 million barrels per day during the week ending June 16, up 138,000 barrels per day from the previous week”s average. Refineries operated at 93.3% of their operable capacity last week.
Gasoline production increased last week compared to the previous week, averaging 9.35 million barrels per day, while distillate fuel production increased slightly, averaging nearly 4.2 million barrels per day.
U.S. crude oil imports averaged 11.0 million barrels per day last week, up 447,000 barrels per day from the previous week. Over the last four weeks, crude oil imports have averaged over 10.8 million barrels per day, an increase of 370,000 barrels per day from the comparable four weeks last year. Oil and gas investor leads.
Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged nearly 1.1 million barrels per day. Distillate fuel imports averaged 284,000 barrels per day last week.
U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 1.4 million barrels from the previous week. At 347.1 million barrels, U.S. crude oil inventories are at the highest level since the week ending May 29, 1998, and are well above the upper end of the average range for this time of year. Total motor gasoline inventories inched higher by 0.3 million barrels last week, and are now in the middle of the average range.
Distillate fuel inventories rose by 1.7 million barrels and are above the upper end of the average range for this time of year. A large increase in ultra-low sulfur diesel fuel was more than compensated by a decline in regular diesel fuel (15 ppm to 500 ppm sulfur), while high sulfur distillate fuel (heating oil) inventories rose by 2.7 million barrels. Total commercial petroleum inventories jumped by 7.8 million barrels last week, and are above the upper end of the average range for this time of year.
Total products supplied over the last four-week period has averaged nearly 20.9 million barrels per day, or 0.8% more than averaged over the same period last year. Over the last four weeks, motor gasoline demand has averaged 9.4 million barrels per day, or 0.9% above the same period last year. Oil and gas investors list
Distillate fuel demand has averaged nearly 4.1 million barrels per day over the last four weeks, or 1.1% above the same period last year. Jet fuel demand is up 1.7% over the last four weeks compared to the same four-week period last year.
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