Middle East

Kuwait

Kuwait has acknowledged defeat on its bid to increase production capacity to 4mn b/d by 2020. The cornerstone of this was Kuwait Oil Company’s 3.65mn b/d target, but in late-2018 this was pushed back to at least 2023. The next planned milestone is the mid-2019 start of the Lower Fars Phase One Heavy Oil development. A new team at the top will have to contend with an increasingly agitative parliament.

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For Kuwait, China Now Rivals Korea As #1 Customer. Whilst 2012-16 Saw Kuwait Diversify Its Customer Base, The Share Of Its Top Four* Asian Customers Has Again Risen To 70%
Gulf Refinery Intake* (mn b/d)
Gulf Refining Capacity* (mn T/Y, End 2017)