Related Articles
Kuwait hopes for brighter times ahead
Forward article link
Share PDF with colleagues

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 burea

Comments

Comments

{{ error }}
{{ comment.comment.Name }} • {{ comment.timeAgo }}
{{ comment.comment.Text }}
Also in this section
Malaysia awards another offshore block to Shell
29 July 2021
The major has been awarded another block by NOC Petronas, but government involvement remains vital
Shell greenlights Whale venture
29 July 2021
Gulf of Mexico FIDs may be waning, but latest approval shows they can still be viable
Governments in race to unlock potential of CCS
29 July 2021
Policymakers must ensure key technology for reaching net-zero sustains momentum over the next decade
Sign Up For Our Newsletter
Project Data
Maps
PE Store
Social Links
Social Feeds
Featured Video