Kuwait’s Ambitious Energy Investment: Bridging the Gap for Global Stability – Arab Times Kuwait News

Kuwait’s Ambitious Energy Investment: Bridging the Gap for Global Stability – Arab Times Kuwait News

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VIENNA, July 6: Kuwait’s Deputy Prime Minister and Oil Minister Dr. Saad Al- Barrak has said that Kuwait has invested more than USD 300 billion in energy for the long term (until 2040). The world currently needs annual investments worth USD 500 billion in the energy field, the minister suggested in remarks to KUNA and KTV on the fringes of OPEC talks in Vienna. In 2022, it only invested USD 300 billion leaving an over 40 percent gap, thus creating difficulties in the global energy market. He urged a greater increase in the volume of these investments to protect from price fluctuations and to achieve stability in the global economy.