PIW’s Kuwait report ‘not accurate’

(Kuwait City) – A senior Kuwaiti oil official has cast doubt on the accuracy of a report by industry newsletter Petroleum Intelligence Weekly (PIW) that the Opec producer’s oil reserves are only half those officially stated.

‘I have no idea where they got this figure from … I don’t think it’s accurate,’ Farouk Al Zanki, the chairman of state-run Kuwait Oil Company (KOC) said in Kuwait City.
PIW earlier said that according to internal Kuwait records the newsletter saw, Kuwait’s actual oil reserves, which are officially stated at around 99 billion barrels, or close to 10 per cent of the global total, are a good deal lower.

TradeArabia