Kuwait Petroleum Keeps Output Capacity Target Of 4Mn b/d By 2020

Published on Wednesday, 05 Jun 12:48 pm

Kuwait is aiming to raise its oil output capacity by nearly 30% to 4mn b/d by 2020, the recently appointed CEO of Kuwait Petroleum Company (KPC), Nizar al-‘Adasani, said yesterday, the official KUNA news agency reported. The target is the same as the one repeatedly set out by the state oil company’s former CEO, Faruq al-Zanki, who was replaced by Mr ‘Adasani on 20 May in a major management shake-up of KPC and its operating subsidiaries. Kuwait’s oil and gas strategy aims to bridge a widening domestic gap between supply and demand for electricity and some petroleum fuels, especially natural gas, the report quoted Adasani as saying.

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