KUWAIT CITY, July 8: The Kuwait Petroleum Corporation is set to prioritize increasing Kuwaiti foreign investments in 2025. According to oil industry insiders, this strategic move aims to diversify revenues to bolster the GDP. This initiative follows the KPC’s focus on boosting local oil investments in 2024 through a series of tenders aimed at revitalizing the domestic oil sector. As part of its plan to strengthen foreign investments, the KPC has instructed its overseas subsidiaries to assess their respective markets. This evaluation aims to identify opportunities for expansion or relocation to new markets through acquiring lucrative oil projects.

Currently, the KPC is concentrating efforts on expanding its presence in European markets by expanding fuel station networks and pursuing environmentally friendly oil projects. Plans also include potential ventures in Asian markets, targeting upcoming project acquisitions within those regions. Key Kuwaiti entities involved in foreign investments include Kuwait Foreign Petroleum Exploration Company, Kuwait Petroleum International Company “Q8”, Petrochemical Industries Company, and Kuwait Gulf Oil Company. Concurrently, the KPC is promoting greater participation from the local private sector in revitalizing the oil industry. Opportunities range from energy transformation initiatives to increasing drilling activities aimed at augmenting production capacities.

By Najeh Bilal
Al-Seyassah/Arab Times Staff