Published on June 9, 2014
Kuwait's Petrochemical Industries Company (PIC) hopes to boost its income so that it accounts for over 50 per cent of the nation's non-oil income. Its essential to give more value to the petrochemicals sector in order to develop the production chain and to protect the industry from effects of increasing competition in external markets.
The petrochemical output can be sustained with the help of Kuwait's reserves and growing upstream production. Access to diverse feedstock will also ensure a more diverse range of downstream products.
However, government control of upstream and downstream sectors affects the investment climate and the nation's export potential.