Following shutdowns caused by power shortages in early 2014, Kuwait’s refineries are poised to undergo improvements in the year via multibillion-dollar upgrades and new facilities led by the private sector, including construction of the world’s largest oil refinery, which will substantially boost both exports and revenues. At the same time,...
Kuwait’s vast oil wealth has allowed its leadership and citizenry the luxury of inexpensive, readily available electricity, with energy demands traditionally met using oil-fired power stations. Oil consumption for power generation previously comprised a relatively small portion of overall crude production and did not make a major dent in oil...
With more than 100bn barrels of proven oil reserves, new discoveries in the north of the country and increasingly sophisticated extraction methods ready to be implemented, it is expected that oil revenues will continue to be Kuwait’s most significant economic pillar well beyond 2014. Kuwait ranked as the world’s sixth-largest oil producer in...
As the Kuwaiti government moves to invest billions in upgrading and expanding its oil production facilities, it has targeted an ambitious increase in crude output, with plans to produce 4m barrels per day (bpd) by 2020. New demand for enhanced oil recovery (EOR) in the Greater Burgan area has already facilitated further participation by...
In addition to ambitious production and refinery expansion plans, the Kuwaiti government is also moving to rapidly enlarge and upgrade its power grid. With recent refinery shutdowns highlighting the country’s energy vulnerabilities, and domestic consumption of heavily subsidised electricity continuing to rise, the country’s power grid is in...
As new discoveries are being made in the north of the country, and as the industry develops increasingly sophisticated extraction technologies, Kuwait’s oil revenues should see a new boost. The authorities are also seeking to develop the country’s natural gas resources, as these could provide a valuable alternative for electricity generation. Although the kingdom was ranked as the world’s...
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