Kuwaiti businessman and writer Ali Abbas Al-Naqi revealed that Kuwait continues to strengthen its pivotal presence in global oil markets through careful production management and full compliance with OPEC+ agreements, while adopting the latest technologies to enhance efficiency and reduce environmental impact.

Al-Naqi noted that Kuwaiti oil production increased by 1.5% year-on-year in July 2025, reaching 2.45 million barrels per day, the highest level since the end of 2023, supported by increased production quotas under the OPEC+ agreement.

He added that Kuwait plans to invest between 9 and 10 billion dollars annually over the next five years to increase production capacity from 2.8 million barrels per day to be between 3.5 and 4 million barrels per day by 2040.

Regarding renewable energy projects, Al-Naqi revealed that Kuwait is close to signing an executive agreement with China in the first quarter of 2026 for the third and fourth phases of the Shagaya Renewable Energy Project, with a total capacity of 3.2 gigawatts.

He emphasized that the growing demand for Kuwaiti oil in regional and international markets opens up vast prospects for expansion and enhances Kuwait’s vital role in formulating regional and international oil policies.

Al-Naqi concluded by saying that Kuwait represents a living example of how vision, smart investment, and commitment to national values ​​can create an influential nation in the future of the Arab and global energy industry.