Kuwait may issue bonds amid $100b oil-investment push | GulfNews.com:
"Kuwait Petroleum Corp. is considering selling bonds to help pay for a planned investment of $100 billion over the next five years to boost oil output, echoing plans by Saudi Arabia to maintain spending on energy projects as global producers compete for market share.
State-run KPC is looking at issuing bonds and Islamic securities known as sukuk, the company’s chief executive officer Nizar Al Adsani said at a conference in Kuwait City. KPC had announced plans earlier this month to arrange a $10 billion loan to expand refineries to make cleaner-burning fuels. Kuwait, OPEC’s fourth-biggest producer, plans to expand its crude- production capacity to 4 million barrels a day by 2020, he said Tuesday.
A -Adsani’s remarks came a day after Khalid Al Falih, chairman of state-owned Saudi Arabian Oil Co., said his company, the world’s biggest producer, has formulated a new strategy in response to cheaper crude and is keeping up its investments. Together, the comments of both officials suggest that at least two of OPEC’s core Arab producers are doubling down in long-term bets on their energy assets."
'via Blog this'
No comments:
Post a Comment