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The Saudi Arabian King Abdullah Atomic and Renewable Energy City (KACARE) has stated that Saudi Arabia will reach 60 GW of renewable capacity by 2030, including 40 GW of solar capacity and 20 GW from other RES, including onshore wind. The announcement is made under the framework of the KSA Vision 2030 and the National Transformation 2020 Programme.
The Iraqi government expects to raise production from the southern Majnoon oilfield near Basrah from the current 240,000 bbl/d to 290,000 bbl/d by the end of 2019 and then to 450,000 bbl/d by the end of 2021. In 2019, US$7bn will be invested for the development of five oil fields in the Basra region, of which 10% (US$700m) for the Majnoon field. Besides, it has also outlined plans to develop a new offshore oil export pipeline with a capacity to transport 700,000 bbl/d by the end of 2019.
State-run oil and gas company Saudi Aramco has postponed its planned stock market flotation (initial public offering or IPO) until 2021. The sale of a 5% stake in the company was initially announced in January 2016 and expected in late 2018.
According to the United States Energy Information Administration (EIA), approximately 23.7 GW of new capacity additions and 8.3 GW of capacity retirements are expected for the domestic power generation sector in 2019.