Kuwait Considers Privatizing Oil-Field Services

Source: www.gulfoilandgas.com 7/12/2016, Location: Middle East

Kuwait is mulling the privatisation of its oil services sector, a senior finance ministry official said, although any such plans would not include the Gulf Arab state's production capability.

The finance ministry and state-run Kuwait Petroleum Corporation are studying which sectors and services may be privatised, Undersecretary Khalifa Hamada told reporters at a news conference in Kuwait City, adding any moves would focus on oil services companies and not production.

Any privatisation of state oil assets is considered a politically sensitive subject in Gulf states, as oil is the economic bedrock which supplies the revenues to provide the generous cradle-to-grave welfare state enjoyed by citizens.

Hamada said any privatisation plans in Kuwait would not include its oil production facilities. He did not specify a time frame for the process.


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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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