KUWAIT: The Kuwaiti government will discuss the size of the country's oil reserves in a closed-door session with members of parliament today.
The size of the reserves in the world's seventh-largest oil exporter became a sensitive issue last year when industry newsletter Petroleum Intelligence Weekly (PIW) said it had seen internal records showing reserves were about 48 billion barrels - half the officially stated 99 billon.
The difference is equal to more than four percent of global proved oil reserves, according to data in BP's annual statistical review, the oil industry's most trusted.
"The issue was raised at the beginning of today's session during discussion of the state budget and the oil minister promised that the government will ask for a closed-door session to discuss the size of the reserves," MP Adel Al Sarawi said.
Parliament was due to finish and approve the new state budget today before the summer break. Legislators threatened not to pass the budget if oil reserves were not disclosed.
Former Oil Minister Shaikh Ali Al Jarrah Al Sabah, who resigned in late June, refused to disclose reserves during his year in the job.
Shaikh Ali added to confusion on the issue in May when he told a daily newspaper he could not deny the PIW estimates, while at the same time questioning how reserves were defined.