Core Viewpoint - Kuwait plans to increase its petrochemical production capacity to 14.5 million tons annually by 2040 as part of its oil economy diversification efforts [1] Group 1: Production Capacity and Goals - The Kuwaiti oil minister announced that the country aims to raise its crude oil production capacity to 4 million barrels per day by 2035 [1] - Currently, Kuwait Integrated Petroleum Industries Company (KIPIC) has a petrochemical production capacity exceeding 4 million tons annually from various domestic and international projects [1] Group 2: Key Projects - KIPIC plans to construct the "Zour Petrochemical Complex," which will integrate operations with the Zour Refinery, expected to produce 2.76 million tons of aromatics and polypropylene (PP), along with 1.7 million tons of gasoline [1] - The estimated investment for the Zour Petrochemical Complex is $10 billion, but KIPIC has not finalized the investment decision, and the project is currently stalled following the withdrawal of SK Engineering & Construction and Fluor Corporation from the bidding process [1] Group 3: Future Energy Strategy - The Kuwaiti oil minister emphasized that oil will continue to play a dominant role in the future energy structure, while the country remains committed to achieving carbon neutrality by 2060 [1]