Kuwait aims for investment reset
NOC reflates its spending and projects grind forward. But no-one should expect miracles
The Kuwaiti government has approved a sizeable hike in state-owned oil producer Kuwait Petroleum Corporation's (KPC’s) budget for the year from 1 April—reversing some of the swingeing capex cuts ordered 12 months previously—as this year’s oil price recovery and a gradual easing of Opec+ production shackles offer the prospect of alleviating the firm’s financial pressures. It remains too early to get overly excited. The coronavirus pandemic and associated oil price slump did not spark but merely exacerbated chronic problems afflicting Kuwait's oil and gas sector. Political obstruction in the Mid-East Gulf’s most obstreperous parliament and the eye-watering inefficiency of a labyrinthine bureau

Also in this section
10 July 2025
Without sanctions relief, there is little reason to believe the latest potential attempt at exports from the Russian liquefaction project will be more successful than the one last summer
9 July 2025
Efforts to restructure and boost investment appear to be working, but doubts remain about the plan to almost double crude production by 2030
7 July 2025
The end of Grangemouth and Lindsey oil refineries marks a worrying trend across Europe amid cost and transition pressures
3 July 2025
The July/August 2025 issue of Petroleum Economist is out now!