Nawaf Al Saud: Kuwait's Oil Production Recovered 75 Percent
Kuwait Petroleum Corporation unveils its efforts to increase domestic storage capacity and expand its three international refineries, as part of its plan to achieve an oil production target of 4 million barrels per day by 2035. The CEO explained that Kuwait is currently producing about two million barrels per day, which is 75% of pre-war levels, relying on a fleet of tankers to ensure freedom of navigation through the Strait of Hormuz. The corporation is also in talks with Saudi Arabia and the UAE to establish pipelines connecting to their ports, and is exploring options to increase storage capacity and develop logistics services. These measures aim to address the decline in refined products in the global market, which is losing around 6 million barrels per day.
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