LYCOS RETRIEVER 
Kuwait
built 645 days ago
As part of the Kuwait Petroleum Corporation family, PIC is at the heart of the national strategy to maximize the value of Kuwait's hydrocarbon resources, and is focused on increasing its petrochemical contributions. It is focused on strategic growth inside and outside Kuwait through diversification, further use of strategic alliances, as well as pursuing successful joint ventures such as EQUATE, GPIC and MEGlobal. More information is available at www.pic.com.
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Iraq's deliberate act of aggression and eco-terrorism against Kuwait was a seminal event in modern Arab history, for it represented the first invasion of one sovereign Arab state against another. The possibility of such an event was heretofore dismissed as impossible, given the cultural affinity between all Arabs. Therefore, while individual Arab states may have had grievances vis-…-vis each others, most Arabists predicted that such differences would never manifest themselves through armed combat. Saddam Hussein broke this Arab cultural taboo, and his act of aggression against his fellow Arab Kuwaitis came a serious shock to any lingering notions of pan-Arab unity (if there was any resonance of this left by the time of the Gulf War). Prior acts of Iraqi of profligate acts of violence against Iranians and Kurds did not alarm fellow Arabs, since these peoples were not Arab, and Saddam Hussein had championed himself as the "Sword of the Arabs". Moreover, Hussein's brutal repression of his own Arab countrymen was tolerated, for every nation in the region repressed internal dissent, each to a varying degree.
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![[Country Map]](http://retrieverimages.lycos.com/images/k/u/w/kuwait/i/005.jpg)
Kuwait has a small, relatively open economy dominated by the oil industry and government sector. Approximately 90% of the Kuwaiti citizen labor force works in the public sector, and 90% of private sector workers are non-Kuwaitis. Kuwait's proven crude oil reserves of about 101.5 billion barrels--9% of world reserves--account for nearly 60% of GDP, 95% of export revenues, and 80-90% of government income. During the 1970s, Kuwait benefited from the dramatic rise in oil prices, which Kuwait actively promoted through its membership in the Organization of Petroleum Exporting Countries (OPEC). The economy suffered from the triple shock of a 1982 securities market crash, the mid-1980s drop in oil prices, and the 1990 Iraqi invasion and occupation. The Kuwaiti Government-in-exile depended upon its $100 billion in overseas investments during the Iraqi occupation to help pay for the reconstruction.
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Kuwait has the third largest oil reserves in the world after Saudi Arabia and Iraq. The main concession for oil exploitation was held by a joint British-American firm until 1974, when Kuwait took control of most of the operations; it had previously retained a large part of the oil profits. Much of the profits have been devoted to the modernization of living conditions and education in the country. The petroleum industry, which accounts for about 95% of Kuwait’s export revenues, was severely damaged in the Persian Gulf War. However, by the end of 1992, the country had repaired nearly all the damage to its war-ravaged oil fields and its oil output was at about prewar levels. Huge amounts of natural gas complement Kuwait’s oil and petrochemical production.
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Kuwait Airways knows that you need efficiency, timeless, and reliability. Its fleet and communications network are the products of the very latest in sophisticated technology. Warm, personal service that meets your every need. Super modern technology. Traditional arabian hospitality. This is what the new Kuwait Airways is all about.
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Kuwait has a proven crude oil reserves of 104 billion barrels (15 km³)[47], estimated to be 10% of the world's reserves. Being a tax-free country, Kuwait's oil industry accounts for 80% of government revenue. Petroleum and petrochemicals accounts for nearly half of GDP and 95% of export revenues. Increases in oil price since 2003 has caused a surge in Kuwait's economy.[48] Kuwait's current oil production of 2.8 million bpd is expected to increase to 4 million bpd by 2020.[49] To realize this production target, Kuwait Petroleum Corporation plans to spend US$51 billion between 2007 to 2012 to upgrade and expand the country's existing refineries.[50] Other major industries include shipping, construction, cement, water desalination, construction materials and financial services.[51] Kuwait's climate limits agricultural development. Consequently, with the exception of fish, it depends almost wholly on food imports. About 75% of potable water must be distilled or imported.
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