A senior Kuwaiti official has broached the prospect that the country could emulate Saudi Arabia in a partial privatization of its state oil company. But parliamentary and public opposition to foreign participation in its oil and gas sector means the idea is unlikely to take off.
Under Secretary of the Ministry of Finance Khalifa Hamada was quoted by the Kuwait Times on 11 July saying Kuwait is planning to follow Saudi Arabia in a part-privatization – a prospect that would entail a partial flotation of the state-owned Kuwait Petroleum Company (KPC). KPC is the umbrella organization for the oil and gas sector and has numerous subsidiaries (see table). (CONTINUED - 493 WORDS)