Pakistan, Aug. 15 -- Kuwait's oil sector remains severely disrupted as the conflict around the Strait of Hormuz continues to restrict crude exports. The Gulf state depends heavily on oil, with more than 90 percent of government revenue linked to crude sales.

Kuwait also relies on the Strait of Hormuz for exports because it lacks pipelines bypassing the strategic waterway.

Read more: Pakistan to partner with KSA, Kuwait and Qatar for oil storage scheme

Kuwait Petroleum Corporation chief executive Shaikh Nawaf Saud Al-Sabah described the crisis as the sector's toughest challenge since Iraq's 1990 invasion. The state-owned company declared force majeure shortly after the conflict began, citing difficulties in meeting contractual obligatio...