In a quietly released earnings update late last month, Bahrain-headquartered firm Kuwait Energy (KEC) confirmed that its $651mn takeover by China’s United Energy Group (MEES, 30 September 2018) is pushing onward having been approved by KEC’s board in December. The firms are now “endeavoring to have all the outstanding [contract] conditions completed or waived by 30 June.”

United’s takeover of KEC’s Middle East-focused portfolio will give it numerous...