Tuesday 31, July 2018 by Kudakwashe

Kuwait's Kufpec secures $1.1 billion finance deal

 

Sumitomo Mitsui Banking Corporation, First Abu Dhabi Bank, Societe Generale, Mizuho and Scotiabank all reportedly involved in the financing transaction.

  

Kuwait Foreign Petroleum Exploration Company (Kufpec) has signed a $1.1 billion finance deal with a number of banks to help it expand its oil and gas operations, reported local daily, Arab Times.

Kufpec, a subsidiary of Kuwait Petroleum Corporation (KPC), aims to increase its output to 150,000 barrels of oil equivalent per day.

  

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