Kuwait's Kufpec says it has raised additional $1.5 billion loan

April 4, 2015 12:03 PM

66 0

DUBAI, April 4 (Reuters) - Kuwait Foreign Petroleum Exploration Company (Kufpec), a wholly-owned subsidiary of Kuwait Petroleum Corp, said on Saturday it had received an additional $1.5 billion loan, raising a previous debt it took last November to $2.5 billion.

The new funding will be used to finance the company's current and future projects and international expansion plans, Kufpec said in a statement on Kuwait's state news agency KUNA.

Also read: When It Comes to Tech, Venture Capital Grows Less Venturesome

Read more

To category page