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||2.67||mn b/d|
|Crude Exports||1.99||mn b/d|
|Gas Output||1.69||mn cfd|
|Gas Imports||0.44||mn cfd|
5 Feb, 2021
Kuwait's Burgan is the world's second largest oilfield but capacity has dropped from its previous heights. Now state firm KOC has cut its long-term plateau target for the field from 1.7mn b/d to 1.5mn b/d as it shifts to prioritizing margins over volume.
12 Feb, 2021
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4 Dec, 2020
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