Kuwaiti opposition against raising oil output

KUWAIT CITY (AFP) – The Kuwaiti opposition plans to reject a government strategy to raise oil production capacity in the light of reports that the emirate’s reserves are half the announced figure, a leading opposition candidate has said. “We will work to introduce key changes to the government oil policy in a bid to halt plans that aim to raise oil production, because such plans are unnecessary,” former liberal MP Abdullah al-Nibari told a press conference Wednesday night.

“We will work to introduce key changes to the government oil policy in a bid to halt plans that aim to raise oil production, because such plans are unnecessary,” former liberal MP Abdullah al-Nibari told a press conference Wednesday night.

“Kuwaiti national interests will not be served by increasing production,” said Nibari, who has served in several parliaments but was not a member of the outgoing assembly.

Based on its long-term strategy, Kuwait plans to raise its output capacity to four million barrels per day (bpd) in 2020 at a cost of around 20 billion dollars.

AFP