This Big OPEC Member Might Be The Next Big Opportunity For Oilfield Services

15 Jul 2016   Kuwait

There’s been a global trend toward privatization of natural resources the last several months. With lower commodities prices prompting governments like Saudi Arabia to raise cash through the sale of part of state oil firm Aramco — and the Russian government this week announcing it has sold a 10.9 percent stake in diamond miner Alrosa for $816 million. But the biggest development in privatization may be about to drop, in one of the world’s richest oil nations. Kuwait. That revelation came in the form of an offhand comment from Kuwait’s finance undersecretary Khalifa Hamada. Who mentioned during a press gathering Tuesday that the government is considering privatizing the oil field services sector. Hamada gave scant details on the privatization plan, only referring to it in passing during answers to other questions. But the suggestion was clear — Kuwait’s government is seriously considering allowing outside investment in its […]

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