Kuwait’s oil reserves include a total of approximately 13bn barrels of heavy crude oil, located primarily in the country’s northern fields of Raudhatain, Sabriya, Abdali, and Ratqa, as well as the Partitioned Neutral Zone (PNZ). Developing production in the northern Jurassic fields will help the government to meet the key objective of Project...
Along with Saudi Arabia, Iran, Iraq and Venezuela, Kuwait is a founding member of OPEC, which holds almost 81% of the world’s proven oil reserves, with over 66% of these stocks located in the Middle East. Despite having just over a 10th of the landmass of England, Kuwait holds the sixth-largest proven oil reserves in the world, according to...
Despite the drop in global oil prices since 2014, Kuwait has announced ambitious plans to invest $100bn on oil and gas projects between 2015 and 2020. Investment will be split between upstream investments to raise Kuwait’s output capacity and downstream projects to increase the country’s share of the energy value chain globally. The investment...
Production from Saudi Arabia’s oilfields will remain at near-record levels in the short to medium term, with Riyadh looking to maintain above-average output despite low prices. At its June 2015 meeting, OPEC decided to keep the bloc’s production at 30m barrels per day (bpd), the level that had been agreed the previous November. According to...
Although gas production increased by more than 70% between 2003 and 2013 according to BP figures, harnessing its potential presents a number of challenges. Saudi Arabia has no plans to export gas, seeing it as feedstock for local power, desalination and petrochemical plants in order to free up more oil for export.
When OPEC’s member states announced that their crude oil production target would remain at 30m barrels per day (bpd) at a meeting in Vienna on November 28, 2014, Saudi Arabia was accused of waging a price war to preserve market share. The implication was that the country wanted to see the price of Brent crude fall so low that drillers in the...
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×