Economic Affairs

The Program Objectives:

• The Economic Affairs Program is competent with proposing and following up the strategic plans and policies related to development of oil and gas industry in the country and specifically, the production and pricing policies of crude oil and natural gas, the pricing policies of petroleum products in the local market. It is also competent with preparing the studies and researches relevant to oil and energy, preparing of the five years plan in coordination with all divisions of such sector.
• Promoting the relations with international Arab and Foreign organizations, Bodies and Associations and enhance Kuwait position in the petroleum market, the ideal economic exploitation of crude oil and natural gas and protecting the crude oil as a main source of energy.
• Preparing of oil revenues estimates for the purposes of the general budget of the state and control over the oil companies expenses.
• Following up the strategic plans of oil sector.
• Following up the international energy polices and the factors affecting it, studying its effect on the Kuwait petroleum and credit objectives and policies, providing suitable proposals and recommendations its regard.
• Proposing, following up and executing the working strategy in regional, Arab and international organizations concerned with energy especially GCC states and Organization of Arab Petroleum Exporting Countries and Oil Petroleum Exporting Countries.
• Active participation in the petroleum, regional, Arab and international organizations and conferences.
• Studying and analyzing the budget and closing accounts of Organization of Arab Petroleum Exporting Countries and Oil Petroleum Exporting Countries and following up Kuwait obligations towards them in coordination with the concerned bodies.
• Following up and analyzing crude oil and natural gas prices in the international markets, studying the relation between oil prices and the cost of other energy resources, provide proposals concerning the pricing of crude oil and natural gas in short and long term.
• Studying and analyzing the capital projects and closing accounts of petroleum companies working in the neutral area.