Kuwait hopes for brighter times ahead
Kuwait aims for investment reset
NOC reflates its spending and projects grind forward. But no-one should expect miracles
The Kuwaiti government has approved a sizeable hike in state-owned oil producer Kuwait Petroleum Corporation's (KPC’s) budget for the year from 1 April—reversing some of the swingeing capex cuts ordered 12 months previously—as this year’s oil price recovery and a gradual easing of Opec+ production shackles offer the prospect of alleviating the firm’s financial pressures. It remains too early to get overly excited. The coronavirus pandemic and associated oil price slump did not spark but merely exacerbated chronic problems afflicting Kuwait's oil and gas sector. Political obstruction in the Mid-East Gulf’s most obstreperous parliament and the eye-watering inefficiency of a labyrinthine bureau
Also in this section
20 January 2026
The Kingdom of Saudi Arabia is the host of the 25th WPC Energy Congress on 26-30 April 2026. The Ministry of Energy spoke with Petroleum Economist about the key messages and opportunities for the global energy community.
20 January 2026
As the global energy system undergoes its most profound transformation in a century, the need for credible leadership, practical solutions and inclusive dialogue has never been greater. In 2026, the Kingdom of Saudi Arabia will stand at the centre of this conversation as host of the 25th WPC Energy Congress in Riyadh.
19 January 2026
Newfound optimism is emerging that a dormant exploration frontier could become a strategic energy play and—whisper it quietly—Europe’s next offshore opportunity
16 January 2026
The country’s global energy importance and domestic political fate are interlocked, highlighting its outsized oil and gas powers, and the heightened fallout risk
