Spending undershoots due to chronic inability to advance infrastructure plans.
Kuwait Oil Sector Risks Being Left Behind
Dysfunctional politics is back and has brought an end to Kuwait’s longstanding oil production targets. The country’s new upstream chief has acknowledged that capacity falls at the supergiant Burgan field mean that 2020 targets remain five years away.
Kuwait’s National Assembly is to launch an investigation into alleged misuse of public funds over the under-construction 615,000 b/d Al...
Phase Two of Kuwait’s oft-delayed Jurassic gas project was this week completed. Modular plants hold the key to Kuwait’s plans to further hike output from 500mn cfd gas and 175,000 b/d condensate to 850mn cfd and 240,000 b/d by end-2020.
Despite LNG imports running at full capacity, Kuwait suffered gas shortages last summer forcing a hike in the burning of more valuable crude oil. New output from Jurassic reserves should provide relief in time for this summer’s demand peak.
Kuwait was already the largest single area of operations for UK services firm Petrofac. A new $1.3bn award sees the company cement its position further.
Kuwaiti Emir Shaikh Sabah al-Ahmad Al Sabah dissolved parliament on 16 October, precipitating fresh elections, amid growing political turbulence over...
Never keen to be outdone by Saudi Arabia, Kuwaiti officials have mooted the idea of floating oil giant KPC. Entrenched resistance to foreign involvement in the emirate's oil sector makes progress unlikely.