Kuwait Energy Articles & Analysis

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Prior to the 20th century, Kuwait’s merchants and pearl divers leveraged the country’s location to offer their wares on trade flows connecting British India with the Ottoman Empire’s Arabic-speaking realms. The 1938 discovery of oil in the Burgan field did not disrupt those trade flows but replaced their cargoes with oil, which became the...

 

While generally well-endowed with oil of a variety of grades, Kuwait’s Greater Burgan field in the southeast is the world’s second-largest after Ghawar in Saudi Arabia. Consisting of the Burgan, Magwa and Ahmadi reservoirs, Greater Burgan makes up the lion’s share of Kuwait’s production, with average output of 1.1m-1.3m barrels per day (bpd),...

 

What opportunities do the challenges of refining heavy crude and developing reserves present for the energy sector?

Chapter | Energy from The Report: Kuwait 2016

A founding member of the Organisation of the Petroleum Exporting Countries, Kuwait and other members together hold over 80% of the world’s proven oil reserves, of which Kuwait has 101.5bn barrels, or 6%. After the Second World War its role in newly global energy markets gradually increased, with production growing to 1m by 1955. Following independence in 1961, the country spent two decades...

The fall in oil prices led to significantly reduced government revenues for Kuwait in 2015. Despite this the country’s 2016 spending remained largely in line with previous years as the government opted to draw on its considerable financial buffers to help make up for budgetary shortfalls.

The government’s recent decision to make cuts to Kuwait’s petrol subsidy system is expected to boost state coffers amid low global oil prices, despite some push-back from organised labour.