The petroleum industry in Kuwait is the largest industry in the country, accounting nearly half of the country's GDP.

Kuwait Kuwait (; ar, الكويت ', or ), officially the State of Kuwait ( ar, دولة الكويت '), is a country in Western Asia. It is situated in the northern edge of Eastern Arabia at the tip of the Persian Gulf, bordering Iraq to the nort ...

has proven crude oil reserves of 104 billion barrels (15 km³), estimated to be 9% of the world's reserves. Kuwait's oil reserves are the fourth largest in the world and the

Burgan Field The Burgan field is an oil field situated in the desert of southeastern Kuwait. Burgan field can also refer to the Greater Burgan—a group of three closely spaced fields, which includes Burgan field itself as well as the much smaller Magwa and ...

is the

second largest The second (symbol: s) is the unit of Time in physics, time in the International System of Units (SI), historically defined as of a day – this factor derived from the division of the day first into 24 hours, then to 60 minutes and finally t ...

oil field A petroleum reservoir or oil and gas reservoir is a subsurface accumulation of hydrocarbons contained in porous or fractured rock formations. Such reservoirs form when kerogen (ancient plant matter) is created in surrounding rock by the presence ...

. Kuwait is the world's eleventh largest oil producer and seventh largest exporter. Kuwait's oil production accounts for 7% of world-wide oil production.An assessment of world oil exports EnergyBulletin.net
/ref> KuwaitiOilFires-STS037-152-91-(2)

Since the

government of Kuwait Kuwait is an emirate with a political system consisting of an appointed judiciary, appointed government (dominated by the Al Sabah ruling family), and nominally elected parliament. Executive branch The Constitution of Kuwait was approved and p ...

owns the petroleum industry, it controls a lot of the country's economy; in all, about 43 percent of the GDP. Kuwait’s oil exports vary depending on internal needs – almost all of Kuwait’s energy is derived from oil – and on international demand and prices and production quotas fixed by the

OPEC The Organization of the Petroleum Exporting Countries (OPEC, ) is a cartel of countries. Founded on 14 September 1960 in Baghdad by the first five members (Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela), it has, since 1965, been headquart ...

, of which Kuwait is a member. OPEC’s quotas, however, are difficult to enforce, and Kuwait and other countries have been accused of violating them. In 2005, oil production was 2.418 million bbl/day (2005 est). Kuwait's chief oil companies are: *

Kuwait Petroleum Corporation Kuwait Petroleum Corporation ( ar, مؤسسة البترول الكويتية) is Kuwait's national oil company, headquartered in Kuwait City. The activities of Kuwait Petroleum Corporation (KPC) are focused on petroleum exploration, produc ...

(KPC) : Holding group responsible for international marketing. *

Kuwait Oil Company The Kuwait Oil Company (KOC), an oil company headquartered in Al Ahmadi - Kuwait, is a subsidiary of the Kuwait Petroleum Corporation, a government-owned holding company. Kuwait was the world's 10th largest petroleum and other liquids producer ...

(KOC) : Crude oil exploration and development company. *

Kuwait National Petroleum Company The Kuwait National Petroleum Company (KNPC) ( ar, شركة البترول الوطنية الكويتية) is the national oil refining company of Kuwait. Established in October 1960, KNPC handles the responsibility of oil refining, gas liquefac ...

(KNPC) : Runs oil refineries across Kuwait. * Petrochemicals Industries Company (PIC) : Petrochemical and fertilizer manufacturer. *

Kuwait Petroleum International Kuwait Petroleum International, often referred to by its trademark Q8 (pronounced Que-Eight, or Kuwait), refines and markets fuel, lubricants and other petroleum products in Europe. Established in 1983, it is the international subsidiary of Kuw ...

(KPI, also known as " Q8") : Runs refining and marketing business overseas. * Kuwait Foreign Petroleum Exploration Company (KUFPEC) : International oil exploration company. * Equate petrochemical company (EQUATE) : A petrochemical company formed by PIC and

Dow Chemical The Dow Chemical Company, officially Dow Inc., is an American multinational chemical corporation headquartered in Midland, Michigan, United States. The company is among the three largest chemical producers in the world. Dow manufactures plastics ...

. * Petroleum Training Centre (PTC) : Responsible for all training and career development within the KPC companies. * Kuwait Oil Tanker Company (KOTC) : Crude oil shipping * Kuwait Aviation Fueling Company (KAFCO) : Aircraft fuel * Kuwait Gulf Oil Company (KGOC) : Oil and gas exploration and production in the Saudi-Kuwaiti neutral zone; joint venture with

Saudi Arabia Saudi Arabia, officially the Kingdom of Saudi Arabia (KSA), is a country in Western Asia. It covers the bulk of the Arabian Peninsula, and has a land area of about , making it the fifth-largest country in Asia, the second-largest in the A ...

. * Oil Sector Services Company (OSSC) : Handles all construction projects, maintenance, security, fire-fighting, and medical services to all oil sector employees and their families. * Oil Development Company (ODC)

References

External links

Oil and Gas Infrastructure in Kuwait

Kuwait Petroleum Corporation
official website {{Asia topic, Petroleum industry in

See also

References

External links