Kuwait to Invest $79b in Oil Projects

Kuwait to Invest $79b in Oil Projects

Kuwait Oil Company (KOC) is willing to pump about $79b of investments over the next five years as part of its plans to increase the production capacity to 4mb/d from 3.1mb/d, Trade Arabia stated.

The planned projects include new petrochemical plants and expansion of existing units owned jointly by Petrochemicals Industries Company (PIC), a subsidiary of KOC, stated PIC’s CEO, Mohammed Al Farhoud, according to Oman Tribune.

Another project involves establishing an ethylene glycol plant in the US with a production capacity of 750,000 tons per year, Al Farhoud added.

It worth noting that KOC had awarded contracts worth around $25.37b between 2014 and 2016 to boost its production capacity.

Dr. Mahinaz El-Baz 318 Posts

Mahinaz El Baz received her PhD degree in International Economics from Helwan University in 2022. She has +10 years of experience in journalism and economic analysis. She received the "Best Economic Article Award" in 2016 from CFA Society Egypt.


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