Kuwait's cabinet approved a draft decree appointing the chairman of Kuwait National Petroleum Co (KNPC) Farouk Al-Zanki as the new chief executive of Kuwait Petroleum Corp, the state news agency Kuna said on Wednesday.   

Kuwaiti Oil Minister Sheikh Ahmad Al-Abdullah Al-Sabah said Al-Zanki will hold the post at the country's top state oil company for three years, Kuna said. He replaces Saad Al-Shuwaib.

Energy policy in Kuwait, the world's fourth-largest oil exporter, is set by a council that includes oil industry and other government officials. Analysts say the country's oil firms are expected to have several management changes.   

The Opec member aims to reach an oil production capacity of 4 million barrels per day (bpd) in 2020 and sustain it until 2030. - Reuters