Oil Sector Activities of Kuwait
Oil Sector Activities of Kuwait Last updated on Tuesday 20th April 2010
Kuwait succeeded in utilizing its oil resources most effectively by processing its natural gas rather than burning it off. At the domestic level, oil industry has developed and reached integration in its oil operations beginning with exploration, production and refining to transportation and marketing. Kuwait succeeded in securing and almost guaranteed market for its oil and oil-related products.
Kuwait Petroleum Corporation (KPC) has been continuing its efforts in completing the development of its producing, marketing and administrative structure. The KPC introduced several services in the fields of exploration, production and, also, marketing. It has also played a major role in overcoming the crisis and destruction of the oil industry as a result of the Iraqi occupation.
The activities of the oil sector include crude oil production, refining, marketing and transportation as well as foreign exploration and the production of natural gas for domestic purposes. Kuwait has three refineries at Ahmadi, Shuaiba and Mina Abdullah. A fourth is planned and all of them have been planned and built with adaptability in mind.
Kuwait has long realized that as oil is a finite resource, it is necessary to conserve it and also to diversify the means of wealth production. Emphasis has been laid on supplying the local market and augmenting existing supplies of commodities.