Kuwait oil industry facing challenges – ARAB TIMES – KUWAIT NEWS – Arab Times Kuwait English Daily

Kuwait oil industry facing challenges – ARAB TIMES – KUWAIT NEWS – Arab Times Kuwait English Daily

Can sector achieve growth target of 3m bpd and above?

CAN the Kuwait oil industry meet the challenges of the coming years? Will it achieve a growth in crude oil volume to reach a sustainable level of 3 million barrels per day and above? Or will it bring onboard foreign partners to invest jointly in building a petrochemical industry in the new Zour refinery? How much of its established planned strategy can it achieve? The hard fact is that none of our K-oil companies can really achieve their targets and objectives. We are lagging behind the rest of our neighboring Gulf countries in the industry even though Kuwait used to be a leader in every sector in early 1960. It had established the first national company with OPEC and then other national oil companies in refining and international marketing for petroleum products.