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Thursday , September 29 2022

Decision to stop senior appointments in oil sector reflects negatively on economy

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‘Situation will put Kuwait’s chances of raising its share in OPEC on the line’

KUWAIT CITY, July 17: The decision to stop appointing officials in senior and supervisory positions or rotation in state institutions in the oil sector is becoming evident and is likely to reflect negatively on the Kuwaiti economy during the next stage, reports Al-Rai daily. The sources said this situation will put Kuwait’s chances of raising its share in OPEC on the line, pointing to the need to support the oil sector, after its technical, operational, administrative and financial sectors have started groaning as a result of the number of vacancies remain vacant for a long time.

The sources revealed the oil sector has 30 vacancies, including that of an executive, a manager, other than team leaders, noting that these vacancies harm the oil sector due to the suspension of decisions affecting work. The same sources said it is surprising the government has not spared even the oil sector from its decision to stop the appointments in senior positions and this has affected of production and development, and its repercussions will be negative.

Striving
The sources explained Kuwait is racing against time to keep pace with global developments, striving to implement strategic oil projects that would raise Kuwait’s production capacity, noting that “this requires deciding on projects that are difficult for any leader who works by proxy and does not know his fate, whether to avoid taking responsibility or not being qualified to do so, and therefore not excluding the oil sector from the decision to stop promotions and senior appointments at this sensitive stage will waste great investment and development opportunities for Kuwait.

The sources pointed out that the exceptional oil prices are not permanent; stressing that Kuwait’s failure to exploit them will waste exceptional opportunities for it to benefit from projects that generate billions of profits. The sources stated that Kuwait’s efforts to raise its production share in OPEC next September require leaders to assume responsibility for the projects to be implemented, especially since the procedures of these projects are intertwined with other sectors, whether inside or outside the oil sector, noting that disrupting one of them would obstruct the rest of the sectors. This may cause Kuwait to lose its opportunity to support its long-awaited demands.

Priority
The sources considered that there is a need to exclude the oil sector in promotions, transportation and rotation and give it priority and adequate support, in light of the exceptional situation it is going through from proxy-managed positions with the expiration of the terms of the boards of directors of oil companies and their emergency extension, and that is in the interest of the national economy, explaining that despite the extension of the terms of the boards of directors, but the majority of the members of those boards are wary of taking any vital decisions, as they see the necessity of leaving them to the new boards. The sources described the matter as complicated, pointing out that it plunges the oil sector into a large labyrinth in which responsibilities are lost.

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