Kuwait’s oil reserves debate set

The Kuwaiti government will discuss the size of the country’s oil reserves in a closed-door session with members of parliament today.

The size of the reserves in the world’s seventh-largest oil exporter became a sensitive issue last year when industry newsletter Petroleum Intelligence Weekly (PIW) said it had seen internal records showing reserves were about 48 billion barrels – half the officially stated 99 billon.

The difference is equal to more than four percent of global proved oil reserves, according to data in BP’s annual statistical review, the oil industry’s most trusted.

GulfDailyNews