Kuwait Cuts 2020 Heavy Oil Target by More Than Half
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Kuwait plans to pump about 170,000 barrels a day of heavy crude oil by 2020, down from an earlier target of 450,000 barrels a day, Kuwait Oil Co. Chairman Sami al-Rushaid said.
“The heavy oil target is now about 60,000 by 2015/16. This is the first milestone,” al-Rushaid said in a phone interview today. “Our target is about 170,000 barrels per day by 2020.”