The economy of Kuwait stands on the threshold of entering a major new phase in its development. Up to now, it has been based largely on the export of raw hydrocarbons or ancillary products such as petrochemicals. Now, however, a large programme of public investment is re-energising the economy across the board, and industry is set to be a...
As part of Kuwait’s effort to diversify and grow its economy, authorities are launching two initiatives that are set to expand trade with East Asia. First, Kuwait is looking to increase its oil production from around 2.9m barrels per day (bpd) currently to 4m bpd by 2020. This will also boost production of associated gas, which can be used as...
The construction industry is widely expected to be one of the principal beneficiaries of Kuwait’s portfolio of KD30bn ($107.14bn) in large projects first proposed in 2010. With an evident determination by Kuwait’s latest parliament to implement key components of the National Development Plan (NDP), confidence is building within the sector, which is...
The industrial sector is looking forward to the substantial growth opportunities presented by a number of development projects announced by the government in February 2010. Many hope that 2013 will see progress accelerate on these projects after a number of delays, primarily the result of tensions between parliament and the Cabinet. While challenges...
Not far from Kuwait International Airport, signs of the nation’s growing industrial infrastructure are sprouting up; just a short drive along the coastal road are the gantries and tanks of the Shuaiba refinery, one of the three refineries in Kuwait and just part of the vast network of facilities that underpin the nation’s oil and gas industry. Not...
The establishment of Boubyan Petrochemical Company in 1995 ended the government’s monopoly of the petrochemicals industry, but the activities of the state-owned Petroleum Industries Company (PIC) – often in partnership with private entities – continues to define the development of the sector. As a subsidiary of the Kuwait Petroleum Corporation (KPC...
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