The Supreme Petroleum Council is one of the governmental agencies of

Kuwait Kuwait, officially the State of Kuwait, is a country in West Asia and the geopolitical region known as the Middle East. It is situated in the northern edge of the Arabian Peninsula at the head of the Persian Gulf, bordering Iraq to Iraq–Kuwait ...

of which major task is to develop and set the energy policy of the country. In fact, the council is the highest policy body which oversees the overall petroleum and gas sector in Kuwait.

History and profile

The council was established on 26 August 1974 to protect the state’s natural resources along with two other major public bodies, namely the Ministry of Oil and the

Kuwait Petroleum Corporation Kuwait Petroleum Corporation (; KPC) is Kuwait's major national oil company, headquartered in Al Kuwait. The activities of Kuwait Petroleum Corporation are focused on petroleum exploration, production, petrochemicals, refining, marketing, a ...

. In addition, the council set Kuwait's general policy of oil and energy. Saad Al Abdullah Al Sabah and Sabah Al Ahmad Al Sabah, the former

Emir of Kuwait The Emir of the State of Kuwait () is the monarch and head of state of Kuwait, and is the country's most powerful office. The emirs of Kuwait are members of the Al Sabah dynasty. Sheikh Mishal Al-Ahmad Al-Jaber Al-Sabah became the emir of Kuwa ...

, were among the former heads of the council. The latter served in the post between 2003 and 2010. Then the council began to be headed by the

Prime Minister of Kuwait The prime minister of Kuwait is the head of government of Kuwait. As the third most powerful official in the country, following the Emir of Kuwait and List of Speakers of Kuwait National Assembly, Speaker of the National Assembly, the prime min ...

. The council members who are selected by the

Amir of Kuwait The Emir of the State of Kuwait () is the monarch and head of state of Kuwait, and is the country's most powerful office. The emirs of Kuwait are members of the Al Sabah dynasty. Sheikh Mishal Al-Ahmad Al-Jaber Al-Sabah became the emir of Kuwai ...

serve for three years. At the initial phase, the council consisted of four ministers, namely minister of finance and oil, minister of foreign affairs, state minister for Cabinet's affairs and minister of commerce and industry. In 2010 the number of the council members was 18, eight cabinet members and ten representatives of private sector. As of 2013 the council is made up of six ministers and six representatives of private sector. The heads of the Kuwait Petroleum Corporation and of the

Central Bank A central bank, reserve bank, national bank, or monetary authority is an institution that manages the monetary policy of a country or monetary union. In contrast to a commercial bank, a central bank possesses a monopoly on increasing the mo ...

also hold a seat on the council. In theory, the council meets at least four times annually. However, it did not meet from 2008 to February 2010 due to the resignation of four council members.

References

{{DEFAULTSORT:Supreme Petroleum Council 1974 establishments in Kuwait Economy of Kuwait Government agencies established in 1974