Kuwait can restore nearly 70 per cent of its oil production in 68 weeks after the Strait of Hormuz reopens, Reuters reports citing the Kuwait Petroleum Company’s (KPC) managing director for international marketing, Shaikh Khaled Ahmad Al-Sabah.
The remaining 30pc would take about another month, he tells the S&P Global Energy Middle East Petroleum and Gas Conference.
Separately, Al-Sabah says the KPC can restore its refinery output to normal levels in around two to three weeks. KPC has about 1.4 million barrels per day of refining capacity, he adds.
