Kuwait to raise oil output capacity to 4 mbpd.

Kuwait is pumping billions of dollars into projects to expand its oil production capacity to four million barrels per day from three mbpd within a strategy to maintain its position as one of the world’s largest crude exporters, according to Mubasher Trade Research.

[tbpspa]

The state Kuwaiti Oil Company (KOC) has already raised capacity to two million bpd after Iraqi forces were ejected out of the emirate in 1991 and to three million bpd at present, said Fawaz Hammadi, PR team leader at KOC.

Early in November, Kuwait’s oil minister said he expected OPEC to keep its crude oil output target unchanged at its next meeting.He also said Kuwait was currently producing 2.9 million barrels per day of oil and had the capacity to produce 3.2 million bpd.He said Kuwait could achieve oil production capacity of 4 million bpd by 2020, Mubasher reported earlier.

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