Nawaf Al-Saud: Kuwait's oil production reaches 75% of pre-Iran war levels
Nawaf Al-Saud announces that Kuwait's oil production stands at 75% of its pre-war level with Iran, while commitments to the authority continue.
Translated by Qiyas from الأنباء — Original source
Kuwait National Petroleum Company (KNPC) CEO Sheikh Nawaf Al-Saud said that Kuwait is currently pumping around 2 million barrels of oil per day, which represents 75% of the approximately 2.6 million barrels per day produced before the outbreak of the war with Iran in late February, when Tehran moved to close navigation through the Strait of Hormuz.
Al-Saud noted that KNPC is fulfilling its commitments to customers and that all Kuwaiti refineries are operating, with oil projects and pipeline plans continuing to be implemented, despite Iran’s threats to navigation in the Strait of Hormuz. However, the number of oil tankers transiting the strait is increasing.
He added that Iran continues to threaten navigation in the strait, yet a growing number of oil tankers are risking passage despite these threats.
Al-Saud said, “More ships are passing through because people realize there is no alternative to the Strait of Hormuz. Everything you do, every pipeline you build, and every storage facility you construct cannot replace the vital importance of the Strait of Hormuz.”
Al-Saud stressed that there are not sufficient quantities of oil products in the market, particularly distillates, and added, “The loss of Kuwait’s jet fuel supplies was a key factor in the decision to release strategic petroleum reserves.”
