Kuwait Wants Consortiums to Bid for $7 Billion Oil Pipeline Deal

AI Summary

Kuwait Petroleum Corporation (KPC) is seeking consortium bids involving international infrastructure investors to sell a $7 billion stake in its oil pipeline network. This move aligns Kuwait with similar strategies by Saudi and Abu Dhabi peers to attract major infrastructure investments.

Kuwait’s state oil firm, Kuwait Petroleum Corporation (KPC), has asked some of the asset management funds bidding for a stake in its oil pipeline network to tap other investors in their bids for the planned sale estimated at $7 billion, anonymous sources familiar with the process told Reuters on Thursday. Early this year, it emerged that KPC is considering following in the footsteps of its Saudi and Abu Dhabi peers by tapping major international infrastructure investors to buy a stake in its oil pipeline network. KPC held initial talks with…