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Significance
Capacity has fallen by around 15% over the past four years and is below the country’s official OPEC baseline. COVID-19 and difficult executive-legislative relations in 2020-21 have interfered with oil sector project delivery.
Impacts
As projects flounder, Kuwait will lose market share to regional rivals.
Restructuring the Kuwait Petroleum Corporation from eight operating companies to three may boost administrative efficiency.
Upstream operations are unlikely to be much affected by restructuring, given the dominance of Kuwait Oil Company.
Keywords:
Kuwait,
ME/NAF,
OPEC,
economy,
industry,
politics,
energy,
oil,
corruption,
government,
legislation,
opposition,
Fossil fuels
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2021
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