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.
|Crude Output||2.75||mn b/d|
|Crude Exports||2.05||mn b/d|
|Oil & Gas export revenue||66||$bn|
2 Aug, 2019
KPC has woken up to the fact that IMO 2020 bunkering rules – which enter force in less than five months – will render obsolete planned sulfur levels in fuel from its under-construction 615,000 b/d Al Zour refinery. Its solution is to expand a planned RFCC. Expect further delays to a plant originally slated for 2019 start-up.
9 Aug, 2019
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