Kuwait Petroleum Corporation expects to restore 70% of production within 8 weeks
Managing Director for Global Marketing at the Kuwait Petroleum Corporation, Sheikh Khaled Ahmed Al-Sabah, said that Kuwait may restore 70% of the normal levels of its oil production within a period ranging between 6 and 8 weeks, after reopening The Strait of Hormuz.
Al-Sabah explained on the sidelines of a conference Oil and Gasin the Middle East, which is regulated by the Corporation "Standard & Poor’s Global Energy" The remaining 30% will take about an additional month.
Kuwait Petroleum Corporation also expects that its refineries will return to normal production levels within two to three weeks.
Kuwait declared a state of force majeure for oil production last March, and about a month later, it announced Kuwait Petroleum Corporation, a number of the corporation’s operational facilities, including the Kuwait National Petroleum Company and the Petroleum Chemical Industry Company, were subjected to malicious Iranian targeting and attack using drones, which resulted in fires breaking out in a number of those facilities.
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