After opening 2022 at around $78 per barrel, Brent crude prices rose sharply over the next few months to surpass $127 on March 8 – the highest price in 14 years, driven in part by Russia’s invasion of Ukraine. Prices remained elevated throughout much of the year, although they had returned to early January levels by early December amid growing...
To address one of the highest rates of per capita energy consumption globally, the government of Kuwait is taking a multi-pronged approach involving the reduction of subsidies following the rollout of incentives for green energy solutions and national energy efficiency initiatives in 2016-17.
Kuwait is largely reliant on oil for exports, government revenue and GDP contribution. The country is therefore particularly sensitive to fluctuating global hydrocarbons prices and the long-term financial risks associated with the global shift towards lower-carbon sources of energy. Transitioning towards a more diversified and sustainable energy mix is an ongoing challenge for...
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 cleaner sources of energy to make their activities less carbon-intensive and support the energy transition.
...
At the 2012 UN Conference on Climate Change in Doha, the emir of Kuwait announced that the country was aiming to generate 15% of its electricity from sun and wind by 2030 – a target since reasserted in the New Kuwait 2035 vision. While this goal will help reduce greenhouse gas emissions and combat climate change, Kuwait’s desire to boost...
The Kuwaiti government is set to become one of the world’s largest downstream oil and gas investors thanks to plans by state-owned Kuwait Petroleum Corporation (KPC) to diversify its oil products and boost petrochemicals output. Central to this strategy, which comes at a $50bn price tag, is the goal of more than doubling the country’s refining...
Stay updated on how some of the world’s most promising markets are being affected by the Covid-19 pandemic, and what actions governments and private businesses are taking to mitigate challenges and ensure their long-term growth story continues.
Register now and also receive a complimentary 2-month licence to the OBG Research Terminal.
Register Here×