KUWAIT

KUFPEC Finalizes 100% Takeover of IEDC 

The deal, agreed to in principle a month ago (MEES, 1 April), whereby the Kuwais Foreign Petroleum Exploration Company (KUFPEC) is taking over 100% ownership of the International Energy Development Corporation (IEDC), has now been finalized. Under agreements completed and executed in Geneva on 23 April KUFPEC, a wholly owned subsidiary of the Kuwait Petroleum Corporation (KPC), acquired all the shares held by Arab Petroleum Investments...