Article
Carole Nakhle
{
"authors": [
"Carole Nakhle"
],
"type": "legacyinthemedia",
"centerAffiliationAll": "dc",
"centers": [
"Carnegie Endowment for International Peace",
"Malcolm H. Kerr Carnegie Middle East Center"
],
"collections": [],
"englishNewsletterAll": "menaTransitions",
"nonEnglishNewsletterAll": "",
"primaryCenter": "Malcolm H. Kerr Carnegie Middle East Center",
"programAffiliation": "MEP",
"programs": [
"Middle East"
],
"projects": [],
"regions": [
"Gulf",
"Middle East"
],
"topics": [
"Economy"
]
}
Source: Getty
In The Media
The Future of the Kuwaiti Economy
Kuwait is one of the richest countries in the world, but due to its lack of economic diversification, any potential decline in the oil price could cause serious problems to its economy.
Published on May 7, 2014
Source: VoiceAmerica
Even though Kuwait is producing an average of 2.8 to three million barrels a day, Nakhle said that the situation is also worrisome: “You have eighty percent of government revenue coming from the oil sector. So, there are no other sectors in the economy to compensate for any potential decline in oil price. That would be a key concern for the sustainability of the Kuwaiti economy.”
Discussing foreign investment, Nakhle said that Project Kuwait, a project put in place in the mid-1990s that required oil companies to be involved in the upstream sector without really owning the production had been “nearly forgotten,” because the Kuwaitis “didn’t want the foreign investors—not even to have control over operational management.”
Nakhle added that if there is a potential deal in Iran, it would be interesting to find out “what kind of agreements or contracts Iran would offer to investors and whether Kuwait would learn from what its neighbor will be doing.”
This interview was broadcasted on VoiceAmerica’s “Emerging and Frontier Markets Investing.”
About the Author
Carole Nakhle
Former Nonresident Scholar, Middle East Center
Nakhle was a nonresident scholar at Carnegie Middle East Center, specializing in international petroleum contracts and fiscal regimes for the oil and gas industry, world oil and gas market developments, energy policy, and oil and gas revenue management.
- Nuclear Energy’s Future in the Middle East and North Africa
- ISIL Sells Its Oil, But Who Is Buying It?In The Media
Carole Nakhle
Recent Work
Carnegie India does not take institutional positions on public policy issues; the views represented herein are those of the author(s) and do not necessarily reflect the views of Carnegie, its staff, or its trustees.
More Work from Carnegie India
- India’s Press Note 3 Gamble: Opening the FDI Door to ChinaArticle
On March 10, 2026, India’s Union Cabinet approved amendments to Press Note 3, a regulation that mandated government approval on all foreign direct investment (FDI) from countries sharing a land border with India. This amendment raises questions primarily about whether its stated benefits will materialize and if the risks have been adequately weighed. This piece will address the same.
Konark Bhandari
- The Impact of U.S. Sanctions and Tariffs on India’s Russian Oil ImportsCommentary
This piece examines India’s response to U.S. sanctions and tariffs, specifically assessing the immediate market consequences, such as alterations in import costs, and the broader strategic implications for India’s energy security and foreign policy orientation.
Vrinda Sahai
- India-China Economic Ties: Determinants and PossibilitiesPaper
This paper examines the evolution of India-China economic ties from 2005 to 2025. It explores the impact of global events, bilateral political ties, and domestic policies on distinct spheres of the economic relationship.
Santosh Pai
- TRUST and TariffsCommentary
The India-U.S. relationship currently appears buffeted between three “Ts”—TRUST, Tariffs, and Trump.
Arun K. Singh
- Can Geopolitical Alignment Seal the India-EU FTA?Article
This article argues that the geopolitical circumstances have never been more conducive, not merely for the early conclusion of the free trade agreement (FTA) between India and the EU, but also for crafting a substantive and comprehensive strategic partnership.
Mohan Kumar
