Kuwait delays oil output target to 2030

Oil exporter pushes back its target of 4 million barrels per day by 10 years - oil minister.
Kuwait delays oil output target to 2030
By Reuters
Tue 06 Oct 2009 01:54 PM

Kuwait's oil minister Sheikh Ahmad al-Abdullah al-Sabah said on Tuesday that it had pushed back its oil output capacity target of 4 million barrels per day by 10 years to 2030.

Kuwait, supplier of more than a third of the world's oil, has said it would need help from oil majors to reach its output targets.

Sheikh Ahmad said the reason for the delay was due to a lack of "technical know-how".

The Gulf Arab state pumped 2.25 million barrels per day (bpd) in September according to the latest Reuters survey. (Reuters)

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