96
ALRAQABA . ISSUE 15
United States of America
State of Kuwait
Comparison criteria
Natural resources are privately owned by
individuals, corporations or governmental
entities that own the surface of the land.
If the local, state, or federal government
owns the land then the government owns
those resources and manages those
rights for public benefit.
Natural resources are owned by the
government. Nationalization of Kuwait’s
oil industry started in 1975 and currently
the mother company is Kuwait Petroleum
Corporation (KPC) , which has 8
subsidiaries.
Domestic market
structure
Private contracts
Government regulation
Contract types
Yes ranked number one
No
World’s top oil
producer 2017
141
3
Number of operable
refineries
10,000,000
3,150,000
Total capacity of crude oil
production per day (Bpd)
39,230
101,500
Oil reserves
(millions of barrels)
10
6
Oil reserves rank
in the world 2017
The industry is often informally divided into "upstream" (exploration and
production), "midstream" (transportation and refining), and "downstream"
(distribution and marketing).
Industry structure
Case Studies
This section will show two case studies one case study representing the State
Audit Bureau and the other one represents the Government Accountability Office.
This section will show how the GAO uses different methods to deal with fraud
cases and how they handle the case compared to Kuwait. The State Audit Bureau
has what is called a “recurring observations” and those observations are added
as a separate section in the annual report. However, their risk is not assessed,
therefore the case study will show the importance of having a fraud department as
well as a high risk list to help mitigate fraud, waste and abuse.
Articles
