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Kuwait Oil and Gas Report Q4 2016

  • October 2016
  • -
  • Business Monitor International
  • -
  • 73 pages

Includes 3 FREE quarterly updates

BMI View:

Kuwait maintains its ambitious crude and condensate production capacity targets of 3.165mn b/ d by 2017 and 4.0mn b/d by 2020. There has been progress in the award of some key contracts for both upstream and downstream projects over 2016, though challenges remain in attracting foreign investment due to weak fiscal terms.

Latest Updates And Key Forecasts



- The Kuwaiti oil sector registered a third year of contraction in 2015. In real terms the sector shrunk 1.7%.

- Kuwait Oil Company has launched a tender for a water injection scheme on the supergiant Burgan oil field. 18 companies have reportedly prequalified to bid.

- From September 1 2016, Kuwait increased prices by as much as 80% on high octane fuels. The move will reduce government subsidy patterns, but also drive a switch to less efficient lower octane fuel.

- Kuwaiti officials have reaffirmed production capacity targets of 3.165mn b/d by 2017 and 4mn b/d by 2020, though nuanced this to include output of both crude and condensate.

- In H116, Kuwait National Petroleum Company awarded a USD2.9bn contract to a Korean consortium to construct an LNG import terminal in Al-Zour.

Table Of Contents

Kuwait Oil and Gas Report Q4 2016
BMI Industry View 7
Table: Headline Forecasts (Kuwait 2014-2020) 7
SWOT 8
Oil and Gas SWOT 8
Industry Forecast 10
Upstream Exploration 10
Latest Updates 10
Structural Trends 10
Unconventional Upside 11
Upstream Projects 13
Table: Kuwait - Key Upstream Projects 13
Upstream Production - Oil 14
Latest Updates 14
Structural Trends 14
Table: Oil Production (Kuwait 2014-2019) 17
Table: Oil Production (Kuwait 2020-2025) 17
Upstream Production - Gas 18
Latest Updates 18
Table: Gas Production (Kuwait 2014-2019) 20
Table: Gas Production (Kuwait 2020-2025) 20
Refining 21
Latest Updates 21
Structural Trends 21
Table: Refining Capacity And Refined Products Production (Kuwait 2014-2019) 23
Table: Refining Capacity And Refined Products Production (Kuwait 2020-2025) 23
Refined Fuels Consumption 24
Latest Updates 24
Structural Trends 24
Table: New Kuwait Fuels Price As Of September 2016 24
Table: Refined Products Consumption (Kuwait 2014-2019) 25
Table: Refined Products Consumption (Kuwait 2020-2025) 26
Gas Consumption 27
Latest Updates 27
Structural Trends 27
Table: Gas Consumption (Kuwait 2014-2019) 28
Table: Gas Consumption (Kuwait 2020-2025) 29
Trade - Oil 30
Latest Updates 30
Structural Trends 30
Table: Crude Oil Net Exports (Kuwait 2014-2020) 31
Table: Crude Oil Net Exports (Kuwait 2020-2025) 31
Table: Refined Fuels Net Exports (Kuwait 2014-2019) 32
Table: Refined Fuels Net Exports (Kuwait 2020-2025) 33
Trade - Gas (Pipeline AndLNG) 35
Latest Updates 35
Structural Trends 35
Table: Kuwait LNG Infrastructure 35
Table: Gas Net Exports (Kuwait 2014-2019) 37
Table: Gas Net Exports (Kuwait 2020-2025) 37
Industry Risk Reward Ratings 38
Middle East - Oil and Gas Risk/Reward Index 38
Table: Middle East Oil and Gas Risk/Reward Index 38
Upstream: Index Resilient In Lower Price Environment 39
Table: Middle East Upstream Oil and Gas Risk/Reward Index 39
Downstream: Limited Opportunities 41
Table: Middle East Downstream Oil and Gas Risk/Reward Index 41
Kuwait - Risk/Reward Index 44
Upstream Index 44
Downstream Index 44
Market Overview 45
Kuwait Energy Market Overview 45
Regulatory Structure 45
Fiscal Terms 46
Table: Kuwait - Upstream Tax Regime 46
Table: Kuwait - Contracts and Licensing Regime 46
Oil And Gas Infrastructure 47
Oil Refineries 47
Table: Oil Refineries In Kuwait 49
Oil Storage Facilities 49
Table: Kuwait - Oil Terminals and POrts 49
LNG Terminals 49
Table: Kuwait - Existing and Planned LNG Infrastructure 49
Gas Storage Terminals 50
Table: Kuwait - Gas Storage Terminals 50
Gas Pipelines 50
Table: Kuwait - Gas Pipelines 50
Crude Oil Pipelines 50
Table: Kuwait - Crude Oil Pipelines 50
Company Profile 51
Kuwait Petroleum Corporation (KPC) 51
Table: Major Upstream Assets in Kuwait 52
Table: Key Financial Data (USDmn) 52
Kuwait National Petroleum Company (KNPC) 54
Table: Key Financial Data, USDmn 55
Regional Overview 56
Middle East Oil and Gas Regional Overview 56
Oil Production: Output On Upward Trajectory 56
Oil Consumption: Gas And Subsidy Reform Tempering Demand 59
Table: Gasoline-95 Pump Price June 2015 and March 2016 (USD/Litre) 59
Refining Capacity: Mega Refineries To Outcompete 61
Gas Production: Upstream Focus Swaying To Gas 62
Gas Consumption: Industrial Growth And Power Drive Demand 64
Table: Middle East Oil and Gas Production, Refining Capacity and Trade 65
Glossary 66
Table: Glossary Of Terms 66
Methodology 68
Industry Forecast Methodology 68
Source 70
Risk/Reward Index Methodology 70
Table: Bmi's Oil and Gas Upstream Risk/Reward Index 72
Table: Weighting 73

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