KUWAIT/REGIONAL

 

Kufpec Scales Up Ambitions With Shell LNG Buyout, RWE-Dea Bid

 

Kufpec, the overseas upstream subsidiary of state-owned Kuwait Petroleum (KPC), has signaled its ambitions with a $1.14bn Australian LNG purchase. A bid for the upstream arm of Germany’s RWE could be its most audacious move yet. 

Kufpec will soon be the second largest shareholder in the Chevron-operated 8.9mn tons/year Wheatstone LNG project in Australia. Subject to closing, it will...