Kuwait's big energy spending plans
The country is working towards raising crude oil production capacity by more than 1.5m barrels a day by 2040
Kuwait Petroleum Corporation (KPC) has set itself some ambitious upstream targets. Its chief executive, Nizar al-Adsani, told the Petroleum Economist annual Strategy Forum in Kuwait City last week that KPC had "launched its 2040 strategy which focuses on growth in oil activities that require significant capital to finance the mega-projects". He went to say that KPC is on course to raise crude oil production capacity to 4.75m b/d by 2040—up from the current level of around 3.1m b/d. Adsani stressed that the goal was achievable. "I wish to assure you," he continued "that Kuwait Oil Company [a KPC subsidiary] will deliver on this strategic production target. All projects are at the implementati
Also in this section
14 April 2026
The GECF has warned it may revise its projections for demand this year downwards in light of conflict in the Middle East, although it maintains its forecasts for 2027 and onwards
13 April 2026
Petroleum Economist analysis highlights sharp shift from crude oversupply to market deficit, with Iraq and Kuwait badly affected and key producers Saudi Arabia and the UAE also seeing output sharply lower
13 April 2026
Turkmenistan is moving ahead with a modest expansion of the giant Galkynysh field to sustain gas deliveries abroad, but persistent delays to other key pipeline projects and geopolitical risks continue to constrain its export ambitions
13 April 2026
Expensive electricity has forced out swathes of energy-intensive industry and now threatens the country’s ability to attract future investment in datacentres and the digital economy
