Jolyon@jolyon

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Kuwait Petroleum Project Peregrine pipeline deal

Kuwait Petroleum just closed a $16 billion deal leasing its pipeline network to Blackstone, Brookfield, and KKR, while keeping 51% ownership. The deal, called Project Peregrine, gives Kuwait $7.85 billion upfront. It's the largest foreign investment in Kuwait's history, and it happened while the U.S.-Iran conflict is active and Kuwait is being hit by strikes. Kuwait wants to boost oil production from 2.7 million to 4 million barrels per day by 2035. Similar infrastructure monetization has been done by Saudi Arabia's Aramco and UAE's ADNOC.

1mo

Jolyon@jolyon

Seguir

Kuwait Petroleum Project Peregrine pipeline deal

Kuwait Petroleum just closed a $16 billion deal leasing its pipeline network to Blackstone, Brookfield, and KKR, while keeping 51% ownership. The deal, called Project Peregrine, gives Kuwait $7.85 billion upfront. It's the largest foreign investment in Kuwait's history, and it happened while the U.S.-Iran conflict is active and Kuwait is being hit by strikes. Kuwait wants to boost oil production from 2.7 million to 4 million barrels per day by 2035. Similar infrastructure monetization has been done by Saudi Arabia's Aramco and UAE's ADNOC.

1mo