Kuwait’s oil minister is skeptical about the need—and the ability—of the state oil company to spend close to US$500 billion on an expansion program that should run until 2040, Reuters reports, citing local media. Khaled al-Fadhel said he was not against the expansion as such, but added that he believed the projected US$495 billion (150 billion dinars) to fuel this expansion are “optimistic.” Kuwait, along with the UAE and Saudi Arabia, contributes half of OPEC’s total, Wood Mackenzie’s chief analyst Simon…
