Kuwait is considering rescheduling some of the key projects in its 2015-19 development plan in response to continued fall in oil prices.
Though Brent rebounded strongly as MEES went to press it remains comfortably below $50/B, implying a 49% fall from 2014’s $98bn to $50bn in Kuwait’s oil export revenues if prices remain at similar levels for the remainder of 2015 (see p10). In addition to the slide in prices, the shut-in of 500,000 b/d of shared Saudi/Kuwaiti Neutral Zone output has further hit the country’s revenue (MEES, 7 August). (CONTINUED - 1162 WORDS)
