Ministry of Oil Kuwait

In April 1975, His Highness issued an Amiri Decree that separated the Ministry of Oil from the Ministry of Finance and nationalized the oil industry. This decree established the state's control over oil resources, culminating in the agreement to transfer all rights of the two companies to the State on March 16th, 1996. This marked the complete control of the State over their interests in Kuwait. Since the early stages of oil production and export, Kuwait has pursued a clear petroleum policy aimed at maximizing the country's benefits. This policy has evolved in response to developments in the petroleum industry, both locally and internationally. Kuwait's petroleum policy has consistently sought to achieve full ownership of the oil sector, ensuring the country's control over its valuable resources.