Kuwait National Petroleum Company (KNPC) and the Petrochemicals Industries Company (PIC) signed early May agreements to transfer contracts of key projects to Kuwait Integrated Petrochemical Industries Company (KIPIC).
The state owned Kuwait National Petroleum Company (KNPC) expects to finalize a loan of well over $5b to finance its clean fuels project (CFP) by the end of the first quarter of 2017.
Kuwait approved a request from Kuwait Petroleum Corporation (KPC) to set a subsidiary under the name Kuwait Integrated Petrochemical Industries Company (KIPIC) with an estimated capital of about $5.94b