Latest News
- Kuwait-Jordan Durra Field Joint Statement Rejected By Iran
- GTD Cracks Down On Vehicle Noise Pollution In Sulaibiya
- Mystery Of Dead Fish At Shuwaikh Beach Sparks Urgent Action
- MEW To Complete Links With The Interior And Justice Ministries B...
- 8 Expats Jailed For Bribing An Officer To Obtain Driver's Licens...
- Weekend Weather Is Expected To Be Hot
- From Tomorrow, Traffic Diversion On Third Ring Road
- Ministry Of Health Refute Rumors On Non-availability Of Antibiot...
- Amir Of Kuwait And Jordan King Renew Commitment To Regional Secu...
- 37 Arrested With Narcotics And Firearms
- Outrage Over Candidate's Arrest
- Six Stores Shut Down In Jahra For Selling Fake Goods
Kuwait To Raise Oil Production By 2020
Kuwait is planning record oil production at 4 million barrels a day (bpd) by 2020 in a bid to secure future economic growth, Abdulaziz Al Attar, head of research at state-owned Kuwait Petroleum Corp said on Tuesday at the Platts Crude Oil Summit in London.
The country is hoping to maintain the 4 million bpd level through to 2030, marking a 44 percent increase on Kuwait's output of 2.77 million bpd in March this year, according to the latest monthly report from OPEC. It would also be the country's highest output level ever.
"We also intend to provide fuel stock capabilities to counter for seasonality and domestic energy demand," Al Attar said.
Commenting on the three-day strike in Kuwait when production tumbled to 1.5 million bpd in last month, Al Attar said: “I don't think there will be any future risks of strikes."
The three-day strike in April, a response to higher prices for utilities and food and a possible salary freeze for the public sector, led to a fall in production to as low as 1.1 million barrels per day, down from 3 million.
According to OPEC data, Kuwait exported an average of 2 million barrels per day in 2015. Last month, a quarter of this went to China, a 30 percent increase on the year before.
Trending News
-
Kuwait Implements Home Biometrics Services Ahead O...
14 April 2024
-
Kuwait Airways Provides Update On Flight Schedule...
14 April 2024
-
Kuwait Airways Introduces Convenient Home Luggage...
15 April 2024
-
Expat Residency Law Amended By Kuwait Ministerial...
20 April 2024
-
Two Expats Are Arrested For Stealing From Salmiya...
17 April 2024
-
An Egyptian Expat Dies At Kuwait's Airport
11 April 2024
-
Kuwait Airways Resumes Flights To Beirut And Oman...
15 April 2024
-
Bay Zero Water Park Kuwait: Summer Season Opens Ei...
11 April 2024
-
Temperature Increases Cause Electricity Load Index...
21 April 2024
-
Thief Returns Stolen Money With An Apology Letter...
15 April 2024
Comments Post Comment