In this Global Platform video, Suliman Al Khliwi, Managing Director, Saudi Tabreed, discusses how district cooling can offer numerous advantages over conventional cooling in the GCC. District cooling is more cost efficient than conventional cooling, with the ability to serve major projects under development in the region. It is also more energy efficient and has fewer negative environmental impacts,
Kuwait’s Clean Fuels Project (CFP) is among the most important endeavours associated with the country’s downstream energy segment, and it is expected to help boost Kuwait’s global position in oil refining. The project’s main objective was to expand and upgrade the Mina Al Ahmadi and Mina Abdullah refineries – owned and operated by the Kuwait National Petroleum Company (KNPC) – into an integrated…
With Russia’s invasion of Ukraine reigniting debate about the pace of the energy transition and the risks of relying on oil and gas imports from countries with opposing agendas, discussion in the Gulf is framed around how to extract maximum benefit from hydrocarbons while also playing a responsible role in efforts to both mitigate climate change and maintain stability in international energy supply.…
To address one of the highest rates of per capita energy consumption globally, the government of Kuwait is taking a multi-pronged approach involving the reduction of subsidies following the rollout of incentives for green energy solutions and national energy efficiency initiatives in 2016-17. Emir Sheikh Sabah Al Ahmed Al Jaber Al Sabah first announced a target in 2012 to increase domestic energy production…
After opening 2022 at around $78 per barrel, Brent crude prices rose sharply over the next few months to surpass $127 on March 8 – the highest price in 14 years, driven in part by Russia’s invasion of Ukraine. Prices remained elevated throughout much of the year, although they had returned to early January levels by early December amid growing fears of a global recession and weakening demand. The…
As hydrocarbons producers reap sustained revenue from high global prices, national oil companies (NOCs) in the Gulf are accelerating investment in carbon capture, utilisation and storage (CCUS); hydrogen; and cleaner sources of energy to make their activities less carbon-intensive and support the energy transition. Gulf NOCs’ low-cost production advantages and massive hydrocarbons resources mean…
Kuwait’s economy relies heavily on its hydrocarbons-related industries, and while plans are in place to transition to renewable energies, medium-term development strategies will see oil and gas extraction, processing and capacities ramped up, with the revenue channelled into the government’s industrial diversification drive. Downstream chemicals and petrochemicals production forms the backbone…
Kuwait is largely reliant on oil for exports, government revenue and GDP contribution. The country is therefore particularly sensitive to fluctuating global hydrocarbons prices and the long-term financial risks associated with the global shift towards lower-carbon sources of energy. Transitioning towards a more diversified and sustainable energy mix is an ongoing challenge for the country, as for much…
Interview:Mohammed E Al Adwani Which industrial activities present the most promising growth and investment opportunities, and what factors are driving demand? MOHAMMED E AL ADWANI: Kuwait’s industrial sector has gone through a period of re-evaluation as a direct consequence of the Covid-19 pandemic. In this context, the PAI designed a strategy to address the country’s most pressing industrial…
Interview:Sheikh Nawaf Al Sabah What are the most attractive investment opportunities in the country’s oil and gas industry? SHEIKH NAWAF: As part of KPC’s 2040 strategic plan we aim to increase the production of oil to 4m barrels per day (bpd) and gas capacity to 4bn standard cu feet per day (scfd) by 2040. Achieving and sustaining these targets will be largely dependent on implementing…