OPEC-member Kuwait plans to raise its oil production capacity to 4.75mn barrels per day (bpd) by 2040 as part of a strategy to expand its downstream investments, Kuwait state news agency reported a Kuwaiti oil official as saying this week.
Nabil Bouresli, the managing director of international marketing at Kuwait Petroleum Corp, said those investments included adding refining and petrochemical production in Kuwait and abroad.
Kuwait’s current oil production capacity is around 3.15mn bpd, and it has long said it plans to raise this to 4mn bpd by 2020 and maintain this level to 2030.
