Kuwait’s economy relies heavily on hydrocarbons-related industries, and while plans are in place to transition to more renewable sources, medium-term development strategies will see oil and gas extraction, processing and capacities ramped up, with the revenue channelled into the government’s industrial diversification drive. Downstream chemicals and petrochemicals production forms the backbone...
Kuwait Industry
The economy of Kuwait has long been underpinned by the production and export of crude oil. Although the rise in energy prices in 2021-22 boosted government revenue and macroeconomic stability, the Covid-19 pandemic, which preceded the commodity price boom, underscored the risk of over-reliance on an industry subject to fluctuating global demand. This has created fresh impetus for economic diversification, with robust public finances providing a strong platform to...
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Interviews & Viewpoints | Mohammed E Al Adwani, Director-General, Public Authority for Industry (PAI): Interview from The Report: Kuwait 2022
Which industrial activities present the most promising growth and investment opportunities, and what factors are driving demand?
Articles & Analysis | Kuwait creating economic zones to support industrial expansion from The Report: Kuwait 2022
Kuwait’s economy relies heavily on its hydrocarbons-related industries, and while plans are in place to transition to renewable energies, medium-term development strategies will see oil and gas extraction, processing and capacities ramped up, with the revenue channelled into the government’s industrial diversification drive. Downstream...
Articles & Analysis | How Kuwait is expanding downstream value in hydrocarbons industry from The Report: Kuwait 2022
Kuwait’s Clean Fuels Project (CFP) is among the most important endeavours associated with the country’s downstream energy segment, and it is expected to help boost Kuwait’s global position in oil refining.
Articles & Analysis | How industry is adopting circular economic policies to boost exports from The Report: Kuwait 2022
With Russia’s invasion of Ukraine reigniting debate about the pace of the energy transition and the risks of relying on oil and gas imports from countries with opposing agendas, discussion in the Gulf is framed around how to extract maximum benefit from hydrocarbons while also playing a responsible role in efforts to both mitigate climate...
Articles & Analysis | Kuwait investing in clean energy projects from The Report: Kuwait 2022
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.
Articles & Analysis | Rising oil prices catalysing investment in alternative energy in GCC from The Report: Kuwait 2022
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...