Kuwait: More IOCs, More Investment, More Output

Kuwait is finally making serious progress on its ambitious targets for expanding crude production capacity and output. Expansion plans were boosted by the relaxation in March of a national ban on debt, a move that paved the way for Kuwait’s first international bond issuance in eight years this week. The $11.25 billion debt raise on Oct. 1 will help Kuwait toward its target of hiking crude output capacity to at least 3.5 million barrels per day by 2030 and 4…