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The Vital Role of Oil and Gas in Kuwait’s Economy
Kuwait is one of the world’s leading oil producers, and its economy is heavily reliant on the oil and gas industry. The nation’s oil reserves, among the largest globally, have been the foundation of its economic success. The Kuwait Oil Company and other major players are responsible for exploration, production, and export of petroleum products, contributing significantly to national revenue.
However, the global push for renewable energy and fluctuations in oil prices pose potential risks. As a result, Kuwait is exploring diversification strategies, such as investing in petrochemicals and renewable energy to maintain its economic stability.
Key Question: With global efforts shifting towards renewable energy, how can Kuwait ensure the sustainability of its oil and gas sector while preparing for a post-oil future?