Brookfield, KKR and Blackstone have agreed to acquire a 49% stake in a joint venture linked to Kuwait Petroleum Corporation’s national oil pipeline for approximately 16 billion dollars. This represents the largest foreign investment ever recorded in Kuwait, providing the Gulf state with roughly 8 billion dollars in upfront cash. Kuwait retains a majority ownership of 51% along with operational control over the 320-kilometer pipeline network. The transaction gives Kuwait financial resources to modernize its energy infrastructure as part of its goal to reach 4 million barrels per day of crude production capacity by 2035. The deal follows a broader regional trend where Gulf energy producers are increasingly monetizing state-owned assets, similar to Saudi Aramco’s 2019 IPO and ADNOC’s recent listings.
Source: Read the original article
