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.
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...
As hydrocarbons producers reap sustained revenue from high global prices, national oil companies (NOCs) in the Gulf are accelerating investment in carbon capture, utilisation and storage (CCUS); hydrogen; and cleaner sources of energy to make their activities less carbon-intensive and support the energy transition.
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What are the most attractive investment opportunities in the country’s oil and gas industry?
What opportunities do you see for greater collaboration between established banks and financial technology (fintech) firms?
Kuwait’s Islamic banking sector has consolidated its position as one of the largest markets in the world with the completion of the acquisition of Bahrain’s Ahli United Bank (AUB) by Kuwait Finance House (KFH) in October 2022. Prior to the deal, the Kuwait government held 23.9% ownership in KFH, an additional 24.1% via the Kuwait Investment Authority, and 18.69% in AUB. The...
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