Kuwait Oil's daily output to reach 3m bpd

  • Share via facebook
  • Tweet this
  • Bookmark and Share

Kuwait Oil Co’s output capacity will reach 3 million barrels a day in August, excluding the emirate’s portion in the Neutral Zone shared by Kuwait and Saudi Arabia, the state news agency KUNA reported, citing KOC chairman Sami al Rushaid.

State owned Kuwait Oil has a current production capacity of 2.9 million barrels a day and the emirate’s share in the Neutral Zone ranges between 270,000 to 300,000 barrels a day, al Rushaid said, according to KUNA.

Kuwait’s total output capacity will be 3.3 million barrels a day in August, he said.

The emirate is targeting capacity of 4 million barrels a day by 2020.

Oil Minister Sheikh Ahmad al Abdullah al Sabah said in October the country had a sustainable capacity of 3 million barrels a day.

Kuwait is OPEC’s fifth biggest oil producer.

Kuwait is still in talks with Iran to import natural gas, al Rushaid told the news agency. (Reuters)

Related:
Companies
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

All comments are subject to approval before appearing

Further reading

Features & Analysis
Dubai's smart palm tree technology revealed

Dubai's smart palm tree technology revealed

Smart Palms harness the sun's energy to allow people to look...

Decision time looms for Saudi on nuclear power?

Decision time looms for Saudi on nuclear power?

As other countries push ahead with their plans for conventional...

1
With crude at $50, oil firms fear deeper crisis than in 1980s

With crude at $50, oil firms fear deeper crisis than in 1980s

After slashing spending by $180 billion to deal with one of the...

Most Discussed