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Kuwait allocated $5.6bln for oil projects in 2022-2023: report

OPEC member Kuwait approved capital spending of nearly 1.7 billion Kuwaiti dinars ($5.6 billion) for ongoing projects to boost crude output capacity and tap its massive gas resources, a local newspaper reported on Tuesday. The programme, which was launched a few years ago, aims to boost the country’s oil production capacity to 3.5 million barrels per day in 2030 and to develop gas deposits to satisfy domestic demand and reduce reliance on gas imports.

Link: https://www.zawya.com/en/projects/oil-and-gas/kuwait-allocated-56bln-for-oil-projects-in-2022-2023-report-madvvawa

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