Wednesday, 10 July , 2019     |     1349      |      +      |     

Kuwait Petroleum hires NBK Capital to advise on $2 bln financing

Kuwait Petroleum hires NBK Capital to advise on $2 bln financing : Google
  • Business

Kuwait Petroleum Corp has hired NBK Capital to advise it on a financing of around $2 billion that is likely to come from Kuwaiti banks, two sources familiar with the matter said.


One of the sources said negotiations for the financing were in their early stages.

KPC did not immediately respond to a request for comment. NBK Capital declined to comment on the financing.

The state-owned oil company plans to invest hundreds of billions of dollars by 2040 as part of efforts to boost its crude oil production capacity to 4.75 million barrels per day by that date.

The firm’s former chief executive, Nizar al-Adsani, said last year KPC was looking to spend $114 billion by 2023 and an additional $394 billion beyond that up to 2040.

The CEO of Kuwait’s Warba Bank, Shaheen Al-Ghanem, told Reuters last week that Warba Bank was competing to get a lead role in a 350 million Kuwaiti dinar loan for KPC.

Kuwait Today Business Subscription

Keywords:
Category: #Business | 2019/07/10 latest update at 2:26 PM
Source : Reuters | Photocredit : Google
1350
Comments Add comment

Latest Comments


  
  LinkedIn Gulf Media

Sponsored Publications


Related Articles

The editorial staff of Kuwait Media would like to give all of its readers from Gulf and Kuwait and the whole world the opportunity to participate actively in the development of the website! If you have something interesting, fun, scandalous - just something worth to be seen from more people. Capture it and share it in the Kuwait Today with a short text.

Do you have information you want to reach our readers?

Send article/s

You can subscribe to our Facebook, Twitter and Google pages or use our RSS feed channel to always read the most important news about Kuwait, the Gulf and the world.


Latest searches in Kuwait Today