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||2.42||mn b/d|
|Crude Exports||1.87||mn b/d|
|Refining capacity||0.736||mn b/d|
|Oil & Gas export revenue||36.2||$bn|
26 Feb, 2021
Kuwait’s Emir has suspended parliament, further delaying much-needed economic reforms. Latest forecasts are of 11 straight budget deficits out to 2025.
12 Feb, 2021
22 Jan, 2021
15 Jan, 2021
8 Jan, 2021
4 Dec, 2020
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