Kuwait Plans Petrochemical Surge, Oil Output Expansion by 2040

Kuwait is actively expanding its oil and petrochemical sectors to strengthen its position as a global energy leader. The country aims to increase its petrochemical production to 14.5 million tonnes per year by 2040 while raising crude oil production capacity to 4 million barrels per day by 2035, up from the current 3.2 million barrels per day, the highest in over a decade. In line with the recent OPEC+ agreement, Kuwait plans to increase actual crude oil output to 2.559 million barrels per day starting in October 2025. Kuwait is also advancing offshore oil exploration projects at fields like Al-Nokhtha and Al-Julaia, incorporating advanced technologies and focusing on environmental safety to secure its energy future. These initiatives are part of Kuwait's broader 2050 energy transformation strategy that includes investments in renewable energy, green hydrogen, and biofuels. Officials emphasize these efforts not only boost hydrocarbon reserves but also support the development of local manufacturing industries, reinforcing Kuwait's role as a reliable global energy supplier.