The energy industry in Kuwait
Kuwait, situated in the Middle East, is the 10th largest oil producing country in the world with the oil and gas sector accounting for 60% of the country’s GDP and a staggering 95% of its export revenues. This is supported by the presence of the 2nd largest oil field in the world, the Burgan Field which taps in to the fact that Kuwait holds an estimated 10% of the worlds’ oil reserves. In an effort to maintain their position in the market, Kuwait, as of 2019, had $62bn worth of oil and gas projects under construction, including the Al Zour Refinery. Kuwait is also a long standing member of OPEC. The renewable sector in Kuwait is in its early days and the country has set itself an ambitious target of having 15% of their energy from renewable sources by 2030. This is mainly expected to come from solar power.