Kuwait Plans To Boost Oil Output Capacity To 4.75 Million Bpd By 2040

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Kuwait plans to increase its crude oil production capacity to 4.75 million bpd by 2040, compared to a current capacity of 3.15 million bpd, the CEO of Kuwait Petroleum International, the refining arm of Kuwait Petroleum Corp., told Bloomberg in an interview published on Thursday.

Kuwait’s more immediate plans are to raise its capacity to 4 million bpd by 2020 and keep that capacity until 2030, when it would seek to start raising it to 4.75 million bpd by 2040, Kuwait Petroleum International’s CEO Bakheet al-Rashidi said.

“This is one of the targets, and it is not approved yet, but we will definitely go beyond 4 million barrels a day starting from 2030,” al-Rashidi told Bloomberg…

 

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