Kuwaiti Oil Barrel Price68.13 Date:10-05-2021

Aims & Objectives

Aims & Objectives


Protecting the petroleum resources, exploiting and developing it in accordance with the best method and in a way that secures the growth of the country resources, increasing its national income and securing the safety of workers, environment and structures in accordance with the provisions of the Amiri Decree delivered on 12th August 1986.

Starting from this point, Ministry of Oil adopted main objectives in order to be able to realize its mission without prejudice to any of the rules or laws organizing the drilling and exploring process simultaneously with production and export operations and to protect such wealth for the next generations.

Oil Objectives

  • Proposing the general policy of oil and gas sector in accordance with balanced basis keeping the resources of oil wealth and realizing the best development and exploitation for the resources in a way that secures the development of the State revenues and increase its income.
  • Maintaining the level of Kuwait oil prices so as to fulfill the financial obligations of the State and development plans, provides the needs of next generations, maintain the position of oil as a strategic commodity and main source of energy and enhance Kuwait position in the international market.
  • Producing the international position occupied by the State of Kuwait, strengthening its role in the regional and international organizations and associations concerned with oil field such as OPEC, OAPEC, GCC countries, organizations affiliated to United Nations in the fields of oil and energy.
  • Securing the needs of local markets for petroleum and gas derivatives and proposing its pricing policies.
  • Assisting Supreme Petroleum Council in the tasks undertaken by it and supervising the execution of its decisions.
  • Activating the control over the oil sector plans, programs and activities represented by Kuwait Petroleum Corporation, the affiliated companies, the foreign oil companies working in the country, practicing the rights of the State therein for the purpose of increasing the performance effectiveness and enlarging the financial revenues, securing the safety of oil workers and structures and developing the national experiences.
  • Work on applying the environmental laws and statutes, enhancing the concept of protecting the environment through the active participation in the works and programs of Environment Public Authority, reviewing oil sector operations and projects to ascertain that they are fulfilling the environmental requirements and statutes and the international standards.
  • Strengthening the cooperation and coordination with Government, parliament and private sector organizations within the affairs related to oil resources and industry to promote the industry, exchange of information, conducting specialized studies and researches in order to achieve the State development plans objectives.
  • Work on increasing the contribution of oil sector in supporting the national economy.
  • Participating in setting up seminars and conferences specialized in oil and energy, establishing oil information centers and arrange for publishing culture and awareness for oil industry inside the country and supporting the research works.

of Oil Tender

Ministry of Oil Building - Oil Sector - Third Floor
Finance Department

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