Kuwait Petroleum Corporation on the Middle East War and Its Aftermath: The Most Severe Crisis Faced by Kuwait's Oil Sector Since the Iraqi Invasion

The CEO of the Kuwait Petroleum Corporation, Sheikh Nawaf Al-Saud Al-Sabah, described in an interview with France Press the repercussions of the closure of the Strait of Hormuz following the war between the United States and Iran as “the most difficult and largest crisis our oil sector in Kuwait has faced since the Iraqi invasion in 1990.”

Sheikh Nawaf Al-Sabah added that “once the strait is reopened, navigation will return to normal, and we will then be able to easily return to the production levels that prevailed before the war, or even exceed them,” emphasizing the importance of the Strait of Hormuz and that there is “no alternative” to its unrestricted opening.

He noted that “you can build as many pipelines as you want and create all the storage capacity you desire, but unless you ensure the free flow of hydrocarbons and freedom of navigation through the Strait of Hormuz, you will end up facing another energy crisis very soon.”

Since late February, Tehran has effectively closed the vital strait for oil and energy supplies, in response to the US-Israeli attack on it. This has affected Gulf states’ crude oil exports, most of which pass through the strait.

Kuwait’s oil, vital, and civilian facilities have been targeted by malicious Iranian attacks in retaliation for strikes against them.