Kuwait stands to lose about $10 billion of its oil revenues within a year, unless funding of at least one billion dinars is available for KOC projects to maintain the country’s oil production at its current levels.

The sources told Al-Rai that if the required funding is not available, production will decrease by 200,000 barrels per day during the first year, noting that multiplying the amount of the decrease by the price of $80 per barrel means losing about $10 billion to Kuwait in 12 months.

The oil sources have warned that the KOC projects are at stake, and that the impact of the oil sector on the scarcity of liquidity will be reflected in the implementation of projects and their returns, noting that one of the most viable solutions to achieve financing stability for the company projects, is restructuring the economic structure of the company’s capital projects in light of the supply of the profits of the oil sector to the state and the lack of sufficient liquidity.

timeskuwait