Kuwait

Kuwait has increasingly fallen behind other GCC countries on a range of key metrics as its fractious political system has bedeviled investment and reform efforts. The suspension of parliament for up to four years in 2024 could create the political space to push through reforms, but is not without controversy.

State of Play

Kuwait has succeeded in reversing a drop in crude oil production capacity, and now targets 4mn b/d by 2035. An ambitious $30bn refinery upgrade program was completed in 2023 with the ramp up of the Al Zour refinery, pushing refined products exports up to record levels, but an addiction to LNG imports shows no sign of easing, while summer electricity blackouts are increasingly common.

2024 In Numbers

Crude Production	2.41	mn b/d
Crude Exports	1.18	mn b/d
Products Exports	1.2	mn b/d
Power Generation	88.88	TWh

Oil & Gas

23 May, 2025

Featured

Kuwait To Tap Non-Associated New Gas Provinces For 2030 Target

Kuwait is confident that recent exploration and appraisal successes will enable a tripling of non-associated gas output by 2040.

Kuwait Gas Output Tracking Above 2024's Record Levels, And Should Get Associated-Gas Boost As Opec+ Cuts Ease (bn cfd)

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NEWS IN BRIEF

Kuwait Plans Bond Issue

27 Jun, 2025

Kuwait Power Sector Runs Out Of Capacity

20 Jun, 2025

Kuwait Downstream Merger

25 Apr, 2025

Kuwait Curbs Power Supply Ahead Of Summer Peak

4 Apr, 2025

Kuwaiti Power Minister Resigns

14 Mar, 2025

Kuwait: Oil Trading CEO

7 Feb, 2025

Kuwait: New Oil Minister

1 Nov, 2024

Kuwait-Korea Oil Storage

1 Nov, 2024

Kuwait LNG Imports (mn t/y) Rose Above 6mn t/y For The First Time In 2023, With Qatar Supplying 56% Of Volumes

Kuwait's Power Demand Hit A New All-Time Record In August (GW)

Kuwait's Oil Exports (mn b/d): Refined Products Now Account For More Than Half Of Total Volumes

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Middle East