Business | Oil & Gas
Kuwait to boost oil capacity
Kuwait is pumping at around 2.5 million barrels per day (bpd) of crude oil and aims to boost capacity to 3 million bpd in the first half of 2009, a top oil official said yesterday.
- Reuters
- Published: 23:12 August 25, 2008
Kuwait City: Kuwait is pumping at around 2.5 million barrels per day (bpd) of crude oil and aims to boost capacity to 3 million bpd in the first half of 2009, a top oil official said yesterday.
Kuwait is sticking to the production target of 2.53 million bpd set by the Organisation of Petroleum Exporting Countries (Opec) and has about 200,000 bpd to 300,000 bpd of spare capacity, said Saad Al Shuwaib, the chief executive of state oil firm Kuwait Petroleum Corp (KPC).
Kuwait's informal Opec output target is 2.53 million bpd.
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