Industry

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 is largely reliant on oil for exports, government revenue and GDP contribution. The country is therefore particularly sensitive to fluctuating global hydrocarbons prices and the long-term financial risks associated with the global shift towards lower-carbon sources of energy. Transitioning towards a more diversified and sustainable energy mix is an ongoing challenge for the country, as...

The expansion of Saudi Arabia’s industry is a core part of the Kingdom’s Vision 2030 strategy to diversify the economy and reduce reliance on oil revenue. Industry has been targeted as a driver of future non-oil growth and job creation. Expansion plans are under way for the country’s main strategic industrial segments: oil and gas; petrochemicals; and mining, a significant potential...

As Saudi Arabia moves to diversify its economy and reduce its reliance on oil revenue, the energy sector is set to remain of paramount importance to future development. The Kingdom is positioning itself to increase its oil exports over the coming decade in a move expected to help the country maintain its role as a reliable and versatile global supplier in an increasingly uncertain market....