![]() ![]() KPC’s strategy is responding to a number of global trends impacting the oil and gas industry, including a continued long-term global demand for crude shift of oil demand from Europe to Asia rising global demand for refined products, petrochemicals and natural gas and the inevitable move towards renewable energy resources. The headline figures suggest an ambitious and aggressive ramp-up in production across KPC’s value chain: increasing domestic oil production to 4.75 million barrels per day, increasing domestic refinery throughput to 2 million barrels per day and almost tripling global petrochemical production to 16 million tons per year, all by 2040. This large portfolio of investments covers both the development of upstream infrastructure to raise Kuwait’s crude output capacity and downstream projects to increase the country’s share of the global petroleum and petrochemical product market. KPC has defined a strategy to invest $500bn by 2040 to pursue significant increases in hydrocarbon production. Oil and gas sector strategy 2040 – Energy challengesĭespite these challenging economic conditions Kuwait’s oil and gas sector - led by its national oil company, Kuwait Petroleum Corporation (KPC) - remains key to the country’s economy and labour market.
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