How are lower oil prices impacting the downstream segment in Kuwait?
Energy
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Interviews & Viewpoints | Mohammad Ghazi Al Mutairi, CEO, Kuwait National Petroleum Company (KNPC): Interview from The Report: Kuwait 2016
Articles & Analysis | Kuwaiti government and energy stakeholders forge ahead with investments from The Report: Kuwait 2016
Prior to the 20th century, Kuwait’s merchants and pearl divers leveraged the country’s location to offer their wares on trade flows connecting British India with the Ottoman Empire’s Arabic-speaking realms. The 1938 discovery of oil in the Burgan field did not disrupt those trade flows but replaced their cargoes with oil, which became the...
Articles & Analysis | Investments aim to exploit Kuwait's rich heavy oil deposits from The Report: Kuwait 2016
While generally well-endowed with oil of a variety of grades, Kuwait’s Greater Burgan field in the southeast is the world’s second-largest after Ghawar in Saudi Arabia. Consisting of the Burgan, Magwa and Ahmadi reservoirs, Greater Burgan makes up the lion’s share of Kuwait’s production, with average output of 1.1m-1.3m barrels per day (bpd),...
Articles & Analysis | Kuwait reducing costs by encouraging efficient consumption from The Report: Kuwait 2016
Across the GCC, spending cuts have come to the forefront of fiscal discussions as hydrocarbons exports continue to fetch lower prices on global markets, resulting in decreased revenues. Subsidies, in particular, have been on the chopping block. In January 2016, Qatar announced plans to raise petrol prices by 30% to help address its expected...
Interviews & Viewpoints | Jamal Jaafar, CEO, Kuwait Oil Company (KOC): Interview from The Report: Kuwait 2016
What opportunities do the challenges of refining heavy crude and developing reserves present for the energy sector?
A founding member of the Organisation of the Petroleum Exporting Countries, Kuwait and other members together hold over 80% of the world’s proven oil reserves, of which Kuwait has 101.5bn barrels, or 6%. After the Second World War its role in newly global energy markets gradually increased, with production growing to 1m by 1955. Following independence in 1961, the country spent two decades...