Although the recent dip in oil prices is undoubtedly a concern for Kuwait’s economy should prices remain depressed, the successive budget surpluses of recent years and the country’s low breakeven price on oil production mean the country is strongly placed to cope with lower prices without increasing production. Meanwhile, the government remains committed to maintaining capital expenditures and...
The Middle East
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Chapter | Country Profile from The Report: Kuwait 2015
As a major oil producer and key member of OPEC and the GCC, Kuwait faces a long-term challenge in the recent fall in oil prices, which have added new impetus to its drive for economic diversification. An expanding private sector and ongoing government support for a range of infrastructure projects should, however, ensure continued growth moving forward as new developments are set in motion to...
While hyrdrocarbons revenues still form the bulk of government income in Kuwait, the country is pushing ahead with its economic diversification goals. Despite the recent fall in oil prices, the government remains committed to an ambitious project pipeline, with a series of mega-projects set to boost economic activity across a range of sectors.
Economic update | Oman targets sustainable education
29 Sep 2015
More than half a million students started the academic year on August 23 at some 1077 public school around Oman, with 5% more students enrolling than the previous year.
Articles & Analysis | From refining to associated gas, Saudi Arabia's product offerings thrive from The Report: Saudi Arabia 2015
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.
Articles & Analysis | Saudi Arabia, OPEC’s largest oil producer, keeps on pumping from The Report: Saudi Arabia 2015
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...