Kuwait Petroleum Corporation (KPC) has implemented a precautionary reduction in crude oil production and refining throughput in Kuwait due to security risks linked to Iranian threats affecting shipping through the Strait of Hormuz, the company announced on Saturday.
State-held Kuwait Petroleum Corporation (KPC) is considering following in the footsteps of its Saudi and Abu Dhabi peers by tapping major international infrastructure investors to buy a stake in its crude oil pipeline network in a deal that could be valued at about $7 billion, sources with knowledge of the plan told Reuters.