Kuwait Petroleum Corporation has signed a $16 billion lease-and-lease-back deal with international investors to develop its oil pipeline network and boost oil production. This is one of the largest foreign investments in the region following recent tensions, underscoring Kuwait's continued appeal to global capital.
Leading contractors have been invited to submit updated bids for the key project management contract for the Dorra gas field, despite the ongoing dispute with Iran. The results of the tender are expected later this year.
BP is completing its exit from the renewable energy sector as it negotiates the sale of its last major asset, Lightsource BP. This decision is linked to a strategic review by the company and pressure from investors who are prioritizing the oil and gas business.