A parliamentary committee has proposed a radical shakeup of Kuwait’s oil and gas sector in a move which if implemented could result in the sector being even more exposed to Kuwait’s political volatility. Local daily Al Anbaa has published a draft law drawn up by the parliament’s legislative committee which not just calls for the shakeup of Kuwait Petroleum Corporation (KPC), but would also put much more power in the hands of the oil minister.
Al Anbaa also published a rejection of the draft law from Minister of Oil Mohammed al-Fares and KPC to parliamentary speaker Marzouq al-Ghanim. MEES soundings further corroborate that the proposal is highly unpopular in the sector. (CONTINUED - 635 WORDS)