Kuwait Energy

Chapter | Energy & Utilities from The Report: Kuwait 2019

With the sixth-largest proven oil reserves in the world, Kuwait is among the world’s principal hydrocarbons powers. The Gulf country is also one of...

With the sixth-largest proven oil reserves in the world, and an industry that dates back to the early days of oil and gas dominance in energy, Kuwait is among the world’s principal hydrocarbons powers. Yet, given the lower oil prices seen in global markets in recent years, initiatives outlined in the New Kuwait 2035 development plan come at a critical time in terms of enhancing the state’s competitiveness as a destination for foreign direct investment.

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As hydrocarbons producers reap sustained revenue from high global prices, national oil companies (NOCs) in the Gulf are accelerating investment in carbon capture, utilisation and storage (CCUS); hydrogen; and other green energies to make their activities less carbon-intensive and support the energy transition.

The GCC chemicals and petrochemicals industry demonstrated considerable resilience in the face of Covid-19 and oil price fluctuations.

Amid an increase in global demand and concerns over key supplies, global oil prices are approaching $100 per barrel for the first time since 2014. But, with prices rising, what does this mean for the renewable energy transition, especially in Gulf countries?

 

How is Kuwait pursuing its energy security goals, and will expansion of gas production play a role?

 

To what extent are operational efficiencies being strengthened across KPC subsidiaries to improve productivity and optimise costs?

 

With the sixth-largest proven oil reserves in the world, and an industry that dates back to the early days of oil and gas dominance in energy, Kuwait is among the world’s principal hydrocarbons powers. The Gulf country is also one of the top energy sector investors, with a range of mega-projects under way in refining, petrochemicals, new...

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