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Kuwait spending over $500B through 2040 to raise capacity

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Kuwait Petroleum will spend more than $500 billion to expand its capabilities through 2040 but the country’s oil minister doesn’t think it needs to, sources told Reuters. Khaled al-Fadhel thinks the projected billions announced is an “optimistic” target, though he was not against the idea of expansion “KPC is expected to spend $114 billion in capex over the next five years and an additional $394 billion beyond that to 2040,” CEO Nizar al-Adsani told an oil industry conference. The country’s capacity is......
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