Kuwait announces the lifting of “force majeure” and aims to raise its oil production to two million barrels per day

The State of Kuwait announced a plan aimed at raising its oil production to two million barrels per day within a week, with the lifting of all “force majeure” notices, coinciding with the reopening of the Strait of Hormuz under the peace agreement.

This came in a statement carried by the Kuwait News Agency (KUNA) from the Kuwait Petroleum Corporation, where the Vice Chairman of the Board of Directors and CEO of the Corporation, Sheikh Nawaf Saud Al-Sabah, explained that a return to prevailing pre-war production levels may be achieved within weeks, provided that international commercial shipping traffic resumes on a regular basis to Kuwaiti ports. Sheikh Nawaf stressed that the Kuwaiti oil sector was able to complete fundamental reforms in the damaged energy infrastructure, allowing production capacities to be restored at a faster pace than previous estimates.

He added that the corporation will lift all “force majeure” notices issued during the war period with immediate effect, in a step that reflects the sector’s readiness to gradually return to normal operational operations and resume supplies according to approved plans.

Sheikh Nawaf stressed the Corporation’s full commitment to cooperating with its customers and partners around the world to ensure a smooth and effective transition to full contractual quantities, in accordance with the obligations and agreements concluded, stressing the Corporation’s keenness to maintain the reliability of Kuwaiti supplies and the continuation of its role as a responsible energy supplier in global markets.

He pointed out at the conclusion of the statement that these steps reflect the progress made in efforts to restart the oil sector and the return of operations to pre-war levels, which supports the stability of global energy markets and enhances the ability of the State of Kuwait to fulfill its obligations towards its customers and international partners.