It’s a new dawn for Kuwait’s oil and gas sector, with state energy giant KPC welcoming a more collaborative relationship with the political leadership following the suspension of parliament last year (MEES, 17 May 2024). KPC oversees the oil and gas sector which underpins Kuwait’s economy, providing upwards of 90% of government revenues, but it has had to push back long-standing targets in recent years amid a decline in crude oil production capacity (MEES, 20 December 2019). The trajectory is now upwards, with operations aided by a more supportive political environment.
CEO Sheikh Nawaf Al Sabah acknowledges that KPC decision-making has previously been impacted by political interference. Speaking with MEES at the 9th Opec International Seminar in Vienna last week, he says “we continue to have political interference in Kuwait. But now the political interference has been extremely positive. Now the leadership is coming to us and saying, ‘Tell us what you need and we will make that available to you.’ It is a firm belief in the ability of KPC to deliver on its goals, and it is a strong desire by the political leadership to help us transform KPC.” (CONTINUED - 1295 WORDS)
