MP demands truth on Kuwaiti oil reserves

KUWAIT CITY (AFP) – Veteran Kuwaiti lawmaker Ahmad al-Saadun demanded that the government reveal the truth about the emirate’s oil reserves which were reported to be only half of the official figure.

“No clarifications have been issued by the energy ministry, the Kuwait Petroleum Corp. or its affiliated companies to discount doubts about the credibility of official figures,” Saadun said in a question to Energy Minister Sheikh Ahmad Fahd al-Sabah.

“This raises justified and legitimate concerns that these reserves could be depleted in a very short duration on the basis of current production figures,” Saadun, a three-time former speaker, said Sunday.

The controversy began after the authoritative industry newsletter Petroleum Intelligence Weekly (PIW) revealed in January that Kuwait’s oil reserves are far below the officially stated amount of 99 billion barrels.

AFP