Energy
Kuwait is one of the world's most significant players in the global energy market, largely due to its immense hydrocarbon reserves. The country holds approximately 6% of the world's total crude oil reserves and is a founding member of the Organization of the Petroleum Exporting Countries (OPEC). The entire energy sector is dominated by the state-owned Kuwait Petroleum Corporation (KPC) and its subsidiaries, which oversee exploration, production, refining, and marketing.
Unlike countries struggling with domestic energy deficits, Kuwait's primary challenge has historically been managing global oil price volatility and diversifying its income away from crude oil. While the country is an extremely high consumer of energy per capita due to heavy reliance on air conditioning and subsidized electricity, it has maintained a surplus of production over consumption, allowing it to remain a major global exporter.
Kuwait has embarked on strategic goals under Vision 2035 to significantly boost its crude oil production capacity to 4 million barrels per day and increase the share of renewable energy in its domestic power mix to address rising internal demand and free up more oil for export. The country relies almost entirely on fossil fuels (natural gas and oil) for its electricity production, and water desalination, with renewable energy contributing only a marginal percentage to the total installed capacity.
Kuwait Energy in Numbers – 2023 Statistics
| Metric | Kuwait Statistics (Approximate) |
| Electricity access | Essentially 100% (near universal access) |
| Production of Electricity | 83.6 billion kWh |
| Consumption of Electricity | 78.3 billion kWh |
| Electricity production from fossil fuels | 100% of total capacity (using natural gas and heavy fuel oil/crude) |
| Electricity production from other renewable sources | Less than 1% of total installed capacity |
| Crude oil production | 2.69 million bbl. /day |
| Crude oil exports | 1.8 million bbl. /day |
| Crude oil proved reserves | 101.5 billion bbl. |
| Refined petroleum products production | 1.35 million bbl. /day |
| Refined petroleum products consumption | 315,000 bbl. /day |
| Natural gas production | 20.6 billion cubic meters |
| Natural gas consumption | 23.5 billion cubic meters |
| Natural gas imports | 2.9 billion cubic meters (via LNG terminals) |
| Natural gas proved reserves | 1.784 trillion cubic meters |
| Renewable Energy Target (Vision 2035) | Target of 15% of power generation capacity from renewable sources by 2035 |