Kuwait’s 2040 Strategy Reassessment?

With its short-term strategy lying in tatters, Bloomberg reported this week that Kuwait is now reassessing its $500bn investment strategy to 2040 ( MEES, 8 February ). Under this Kuwait was targeting oil production capacity of 4.75mn b/d ( MEES, 20 April 2018 ), refining capacity of 2mn b/d and gas processing of 3.7bn cfd ( MEES, 30 November 2018 ). With a radical rethink underway, Bloomberg adds that Kuwait is looking at streamlining its eight subsidiaries – KOC, KNPC, KGOC, Kufpec, PIC, KPI, KTOC and KIPIC – into four firms. But a new strategy may come to naught unless Kuwait’s oil sector can insulate itself from the emirate’s dysfunctional political scene.