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Kuwait's KPC Signs $16bn Lease and Leaseback Deal with Blackstone, KKR, Brookfield for Oil Pipeline Network
The leaseback will generate $7.85 billion in upfront proceeds and leaves KOC with full ownership and operational control of the network.
- On Saturday, Kuwait Oil Company signed a US$ 16.0 billion lease-and-lease-back agreement with a global consortium comprising Blackstone, Brookfield, and KKR to manage its crude oil pipeline network.
- Under the 20.5-year contract, KOC retains a 51% stake and full operational control, while the consortium collectively holds a 49% interest in the joint venture on equal terms.
- Known as Project Peregrine, the partnership generates US$ 7.85 billion in upfront proceeds for KOC, supporting Kuwait Petroleum Corporation in reaching 4 million barrels of production capacity per day by 2035.
- This investment supports Kuwait's economic diversification goals while strengthening KPC's ability to deliver on national infrastructure development and attracting world-class international capital into the energy sector.
- Representing the largest foreign direct investment in Kuwait's history, the deal reflects sustained international trust in the Arabian Gulf region and serves as a catalyst for deeper global participation in the national economy.
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Kuwait has agreed a $16 billion infrastructure deal with Blackstone Inc., Brookfield Asset Management Ltd. and KKR & Co. involving its oil-export pipelines, even as the Gulf nation comes under near-daily attacks from Iran.
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Kuwait’s KPC signs $16 billion lease and leaseback deal with Blackstone, KKR, Brookfield for oil pipeline network
DUBAI, July 25 (Reuters) - Kuwait Petroleum Corporation (KPC) has signed a $16 billion deal involving its crude oil pipeline network with a consortium comprising global funds Blackstone, Brookfield and KKR, the state-owned Gulf firm said on Saturday....
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Total News Sources21
Leaning Left2Leaning Right1Center9Last UpdatedBias Distribution75% Center
Bias Distribution
- 75% of the sources are Center
75% Center
L 17%
C 75%
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