US Funds Invest $16B in Kuwait Oil Pipeline
Kuwait Petroleum Corporation announced the signing of a $16 billion deal to lease its oil pipeline network, the largest in the country's history, with a consortium comprising global companies from the United States and Canada. The deal, dubbed the Shahin Project, involves leasing 13 pipelines for 20 and a half years, with a joint stake of 49% for the investing companies and 51% for Kuwait Petroleum Corporation, while maintaining operational control and national ownership. The deal is expected to generate cash returns of approximately $7.85 billion, which will be used to support the plan to increase oil production to 4 million barrels per day by 2035, despite regional challenges and recent production disruptions.
Notice: This Is an AI-Generated Summary
Comments (0)