KPC CEO reaffirms commitment to customers and global energy security at 25th World Petroleum Congress in Riyadh
At the 25th World Petroleum Congress in Riyadh, Kuwait Petroleum Corporation CEO Shaikh Nawaf Saud Al-Sabah pledged that KPC would meet its obligations to customers and partners worldwide — “despite ongoing challenges.” He also pointed to the corporation’s role in supporting global energy security and market stability, signaling that Kuwait’s national oil company is leaning into its commitments at a moment when the industry is navigating significant uncertainty.
KPC CEO delivers commitment pledge at World Petroleum Congress
The pledge came straight from the top. Shaikh Nawaf Saud Al-Sabah took the stage in Riyadh to reaffirm that KPC would honor its commitments to customers and partners worldwide — challenges and all. His remarks, shared via KPC’s official X account, stressed the corporation’s role in bolstering global energy security and market stability.
Kuwait’s Oil Minister, Tareq Sulaiman Al-Roumi, was also present. His ministry’s X account noted that he participated while “reaffirming Kuwait’s leading role in shaping the future of energy and strengthening international petroleum cooperation.” Put the two appearances together, and the message is hard to miss: Kuwait isn’t stepping back from the global energy stage anytime soon.
Kuwait produced 1.766 million barrels per day in September, down from 1.906 million in August and well below the 2.100 million recorded in the first quarter of 2026.
KOC’s $16 billion pipeline deal underpins KPC’s capital plans
The CEO’s confidence isn’t coming out of nowhere. Back in July, KPC subsidiary Kuwait Oil Company (KOC) closed what KPC described as the largest foreign direct investment in Kuwait’s history — a $16 billion lease-and-lease-back agreement covering its entire domestic and export pipeline network.
The deal runs through a newly formed Kuwaiti-incorporated joint venture. A consortium led by Blackstone, Brookfield, and KKR holds a 49% stake, while KOC keeps a 51% majority and full operational control. The JV covers roughly 200 miles of pipeline across 13 lines, with KOC leasing back exclusive use and maintenance rights for a 20.5-year period in exchange for a volume-based tariff.
Kuwait’s refining throughput and production volumes are untouched by the arrangement — those decisions stay with the State of Kuwait. At closing, the transaction generated upfront proceeds of $7.85 billion for KOC, money that feeds directly into KPC’s capital expenditure plans. The headline goal is reaching 4 million barrels per day of crude oil production capacity by 2035.
KPC noted that the deal’s scale “reflects the quality of KOC’s asset base, the strength of KPC’s operational stewardship, and the enduring appeal of Kuwait as an investment destination.” That’s not boilerplate. It’s the financial backbone behind everything the CEO said in Riyadh.
Kuwait aligns with OPEC+ production commitments for November 2026
KPC’s pledges don’t exist in isolation. Kuwait is a founding OPEC member, and its production decisions are tied to a broader multilateral framework. On October 4, seven OPEC+ countries — Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman — met virtually to review global market conditions.
The group decided to maintain September 2026 required production levels for November 2026. Kuwait’s required production for November sits at 2.676 million barrels per day. The seven countries reiterated their collective commitment to full conformity with the Declaration of Cooperation and confirmed that monthly meetings would continue, with the next one scheduled for November 1, 2026.
Kuwait’s recent production figures show variability against historical trend
Whether Kuwait can consistently hit those required levels is a separate question. OPEC’s latest monthly oil market report, based on secondary sources, shows notable variability. Kuwait produced 1.766 million barrels per day in September, down from 1.906 million in August and well below the 2.100 million recorded in the first quarter of 2026.
For context, Kuwait produced 2.475 million barrels per day across all of 2025 and 2.429 million in 2024, per the same OPEC report. The Energy Institute’s 2025 statistical review put Kuwait’s output at 2.470 million barrels per day last year — a 2.4% year-on-year increase, representing 2.9% of global production.
The longer trend points the other way. The Energy Institute’s data shows Kuwait’s output declining at an average of 1.2% per year from 2015 to 2025. That backdrop makes KPC’s 4 million barrels per day target by 2035 genuinely ambitious — and it helps explain why the capital injection from the $16 billion pipeline deal carries so much weight.
What the Riyadh congress and KPC’s investment push tell you
The 25th World Petroleum Congress runs alongside Riyadh Energy Week at the Riyadh Front Exhibition and Conference Center, under the theme “Pathways to an Energy Future for All.” It draws heads of state, ministers, CEOs, energy experts, academics, and engineers — ranking among the most prominent forums on the global oil and gas calendar.
KPC didn’t just show up to make pledges. On October 7, the corporation co-hosted a forum with the Kuwait Direct Investment Promotion Authority, bringing together local and international business partners to explore procurement and investment opportunities across Kuwait’s oil sector. The forum emphasized qualification and registration pathways, transparency, and fair competition.
Step back, and the full picture from Riyadh comes into focus: a national oil company reinforcing its position on multiple fronts simultaneously — honoring customer commitments, locking in major foreign investment, aligning with OPEC+ partners, and using a high-profile global stage to signal one thing clearly. Kuwait’s oil sector is open for business, and it’s thinking big.
Kelly is an experienced writer with 15 years of experience exploring the big stories that shape our world, from tech breakthroughs and space exploration to climate, energy, and the fascinating quirks of science. She has a talent for turning complex ideas into sharp, memorable insights that stay with readers long after they’ve finished reading.
