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FINANCIAL NEWS
Kuwait to boost oil, gas output
10 May 2010
(MENAFN) Kuwaiti Minister of Oil Sheikh Ahmad Al-Abdullah Al-Sabah said that the government has set a strategy to raise oil output to four million barrels per day by 2020, and gas output to one billion cubic feet per day by 2016, Reuters reported.
Kuwait’s oil and gas strategy provides for drawing and training national cadres to manage oil operations both at home and abroad just out of eagerness to develop the country’s national elements and to involve them in national development and prosperity, the minister said at the 9th Arab Energy Conference in Doha.
He stressed the importance of energy as the key catalyst for global economy and a core element of economic and societal development processes.
However, he called on Arab oil-producing countries to continue playing a favorable role in ensuring global oil markets.
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