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Kuwait’s State Oil Company to Seek Up to $20 Billion of Funding

Production

The state oil company of Kuwait plans to borrow as much as $20 billion over the next five years to make up for an expected shortfall in funding, a person familiar with the matter said.

 

 

Kuwait Petroleum Corp. will need the money to maintain the petrostate’s crude-production levels, said the person, who asked not to be named because the information is private.

 

 

The borrowing plan underscores how badly Persian Gulf countries were impacted by the drop in crude prices last year as the coronavirus pandemic spread and energy demand plunged.

 

 

The company remits almost everything it generates from crude sales to the OPEC member’s government. It then gets reimbursed in installments to fund capital expenditure, mainly for upstream operations and investments in oil fields. The firm may face a deficit of 6 billion dinars ($19.9 billion) over five years, though it hopes to minimize the gap by becoming more efficient, the person said.

 

 

Read more: One of the World’s Richest Petrostates Is Running Out of Cash

KPC plans to cover the shortfall by issuing debt, including on international markets. The situation will be reviewed every six months to assess the company’s needs and borrowing costs, the person said.

Pandemic Hit

Kuwait’s financial position — like that of almost all major oil producers — took a hit last year when the virus grounded planes and shut down businesses across the world. The government faced a cashflow crisis and it instructed KPC to transfer more than 7.5 billion dinars in dividends to the Treasury, but which the Supreme Petroleum Council had previously said could be retained.

KPC has since reached a preliminary agreement to repay the sum over 15 years. That helps but won’t solve the company’s problem, the person said.

The firm’s media office couldn’t be reached for comment.

Wealth Fund

Oil accounts for around 90% of Kuwait’s revenue. The nation pumps around 2.4 million barrels of crude a day, making it the fourth-biggest member of the Organization of Petroleum Exporting Countries.

Kuwait is trying to cut spending to contain its economic slump. KPC has slashed capital-expenditure projections for the next five years by more than 30%. The company has hired a consultant to help merge eight subsidiaries into four to streamline operations. That’s expected to be completed by the end of 2022, the person said.

Last month, the government sought permission from parliament to withdraw money from the sovereign wealth fund for the first time since the aftermath of the Gulf War in 1990.

bloomberg



38 Comments on "Kuwait’s State Oil Company to Seek Up to $20 Billion of Funding"

  1. YouCannotRecoverFromConstantChaos on Sun, 28th Mar 2021 5:14 pm 

    StarvingLion : Fake news, Fake Country, Fake Money, Fake People, …Banana Republic.

    ——————————————

    Fake everything. Everyone is lying left, right and center. Constant lying lead to a state a chaos from which you never recover from. When all you hear around are lied, you are living in constant chaos state. You have basically destroy you civilization.

  2. SomeOfMyUselessThought on Sun, 28th Mar 2021 5:50 pm 

    I just had a idea like that, it is probably a stupid idea. Since the Cabal/Satanist are lusing lies as a way to manipuate people and create chaos. what about we do the same thing 10 times worst.

  3. IFuckCIADirectorInTheAss on Mon, 29th Mar 2021 8:46 am 

    OutcastPhilosopher: This whole thing is doomed in the most spectacular fashion.

    ——————–

    Well written man, that made me laught.

  4. IFuckWilliamBurnsInTheAss on Mon, 29th Mar 2021 8:57 am 

    Look people the front man working for the zionist/Cabal/satanist/NWO. The one that is really in charge of the USA and

    https://www.youtube.com/watch?v=0xEcQc3Sw1U

  5. IFuckWilliamBurnsInTheAss on Mon, 29th Mar 2021 9:06 am 

    Look at how fake it is.Space X and elon are deep state.

    https://www.youtube.com/watch?v=gA6ppby3JC8

  6. IFuckWilliamBurnsInTheAss on Mon, 29th Mar 2021 9:13 am 

    They are using a cheap propane torch. goto 0:22

    https://www.youtube.com/watch?v=gA6ppby3JC8

    Elon is fake role model pushing STEM BS: if you work hard you can become rich also

  7. IFuckWilliamBurnsInTheAss on Mon, 29th Mar 2021 9:33 am 

    You have to love this dumb ass nation of Canada and their stupid diversity shit:

    Maryam Monsef (women and gender equality and rural economic development)

    https://www.youtube.com/watch?v=37vK0aI_FuI

    Gender in the title means everybody except the Whites heterosexual man.

    I full get it government of Canada. As a White man I have privileges and I am systemically racist ( meaning I am racing toward everyone that is not Whites). I get it people.

    I will correct my behavior by steeping aside and letting Women, black, brown shit diversity, native build us a low energy civilization. I don’t want to get in the by involving my self de in any, because I could send the message that I am using my Whites privileges.

    Good luck stupid dumb assesd.

  8. IFuckWilliamBurnsInTheAss on Mon, 29th Mar 2021 9:45 am 

    I thought I was too ugly to go into politics. Apparently not, I am too beautiful to go to into politic, I just realized.

    https://www.youtube.com/watch?v=9zZqyHXlN7Q

    Jump 0:16 to see what I mean

  9. IFuckWilliamBurnsInTheAss on Mon, 29th Mar 2021 9:59 am 

    What do we have here people. Yes the European Space Agency. Everything is fake and show to manipulate people like me that have no power. Intelligence agencies like CIA, Kremlin, MI6, run the show. They are coordinating together and writing the script together. There is no conflict between Russia, US and China. It is all scripted

    https://www.youtube.com/c/EuropeanSpaceAgency/videos

    In Canada everyone (negro, brown shit diversity, women, native, cat, dog, flies) is a victim except the Whites man. As a Whites man I understand that I am the ultimate oppressor. Let me stay this again:

    As a White man I have privileges and I am systemically racist ( meaning I am racing toward everyone that is not Whites). I get it people.

    I will correct my behavior by steeping aside and letting Women, black, brown shit diversity, native build us a low energy civilization. I don’t want to get in the by involving my self de in any, because I could send the message that I am using my Whites privileges.

    Good luck stupid dumb asses.

  10. IFuckAntonioGuterresInTheAssAlso on Mon, 29th Mar 2021 10:38 am 

    Trudeau holds joint press conference with UN Secretary-General, Prime Minister of Jamaica | LIVE

    https://www.youtube.com/watch?v=SU8Z7rT74QQ

    Lets watch the video together to see if the Cabal/UN/WEF/Satanist/CIA/Kremlin/MI6/Israel will blame the Whites hetero sexual man for everything bad in the world. UN/WHO/WEF are also part of the earth script writing. They work with the central intelligence agencies in writing the earth theater sript.

    I would like to repeat that I am an White man I get it now, this woke language.

    As a White man I have privileges and I am systemically racist ( meaning I am racing toward everyone that is not Whites). I get it people.

    I will correct my behavior by steeping aside and letting Women, Jews,black, brown shit diversity, native build us a low energy civilization. I don’t want to get in the way by involving my self in anyway, because I could send the message that I am using my Whites privileges.

    Good luck stupid dumb asses.

  11. CryFuckingBitch on Mon, 29th Mar 2021 11:24 am 

    Cry fucking bitch, you deserve it , how is feminism and white man bashing working out for you.

    33:50 to 34:00

    https://www.youtube.com/watch?v=37vK0aI_FuI

  12. IFuckAntonioGuterresInTheAssAlso on Mon, 29th Mar 2021 3:55 pm 

    Another deep fake. Look at his face, typical deep fake. more and more of them

    https://www.youtube.com/watch?v=HECLf-hpOdk

  13. UNIsPartOfTheCabal on Mon, 29th Mar 2021 4:03 pm 

    UN is part of the Cabal. They take a big cut each time a nation give them money

    https://www.youtube.com/watch?v=SU8Z7rT74QQ

    I think there is also deep fake in this video.

  14. FuckingHilarious on Mon, 29th Mar 2021 4:10 pm 

    Stupid cuck sucker. I love watching a civilization disintegrate. They are basically to Whites man to set aside and to not participate to society. The Jews we will destroy this civilization on their own, they don’t need Whites peo0le to do it. FUckin hilarious.

    https://www.youtube.com/watch?v=TK4492ZMTAM

  15. FuckingHilarious on Mon, 29th Mar 2021 4:19 pm 

    Stupid cucks suckers. I love watching a civilization disintegrate. They are basically saying to Whites man to step aside and do not participate to society. The Jews we will destroy this civilization on their own, they don’t need Whites people to do it. FUckin hilarious.

    https://www.youtube.com/watch?v=TK4492ZMTAM

  16. SuckMyAssCabalAndJews on Mon, 29th Mar 2021 7:11 pm 

    Everyone in the following video, can suck my ass. Fucking Cabal using earth as their personal play ground. Listen to tghe BBC bitch talking. She sound so fake

    https://www.youtube.com/watch?v=yV-_JG4k7lc

    I would like to repeat that I am an White man I get it now, this woke language.

    As a White man I have privileges and I am systemically racist ( meaning I am racing toward everyone that is not Whites). I get it people.

    I will correct my behavior by steeping aside and letting Women, Jews,black, brown shit diversity, native build us a low energy civilization. I don’t want to get in the way by involving my self in anyway, because I could send the message that I am using my Whites privileges.

    Good luck stupid dumb asses.

  17. ShowYouFaceNWOSoICanKillYou on Mon, 29th Mar 2021 7:41 pm 

    Turn the sound off and read the comments on the chat. This is where you will learn new stuff about Canada, NWO and the Cabal. I repeat that piece of shits, you will not get my help until you (Cabal, NWO, ..) show who you are so we can kill you and torture you to death. Try me fuckers

    Live Stream! MP Pierre Poilievre Crashes Ethics Committee 29th of March 2021

    https://www.youtube.com/watch?v=btK__5_D6CM

  18. YouHaveBeenWarnedCabal on Mon, 29th Mar 2021 8:09 pm 

    Another thing cuck sucker from the Cabal, you try to take over Quebec/Canada natural resources or electrical grid, I will build a militia and shutdown the electrical grid for ever. You are being warned stupid piece of shit.

  19. YouHaveBeenWarnedCabal on Mon, 29th Mar 2021 8:49 pm 

    Here are the people I will recruit for my militia group.

    https://www.youtube.com/watch?v=VK6Rrf-YAXI

    Try something funny within Canada and Quebec borders and we all go back to the dark ages. We lose all the technical knowledge like this for ever:

    https://www.electroschematics.com/7805-datasheet/

  20. YouDeserveDeathCabal on Mon, 29th Mar 2021 9:11 pm 

    Another thing cock suckers, I am talking to you the Cabal/Banker/Financiers. I see what you are trying to do here. You want Canada to give money to Africans nations so they can back pay their debt. So you want Canada and other nations to bail out the internationals bankers using the UN as a indeterminate agency. You cock sucker really deserve death

    https://www.youtube.com/watch?v=yV-_JG4k7lc

  21. CabalCIAUNWEFcanSuckMyAss on Tue, 30th Mar 2021 10:05 am 

    OutcastPhilosopher: Why anyone invests in the obvious occult phallic rituals of launching penises into the atmosphere is beyond me.

    ——————————————–

    Good observation. The Cabal/NWO/UN/WHO/WEF/CIA/Kremlin/MI6/Israel are probably mostly jews with the 118 genetic defect. The Jews race is full of pedophiles,sexual deviant, greedy people lusting for power.

  22. NotGoingToHappenEver on Tue, 30th Mar 2021 10:57 am 

    Not going to happen if I can help it. Not at all.

    24 World Leaders Call For More Globalism In Wake Of Pandemic

    https://www.zerohedge.com/geopolitical/24-world-leaders-call-more-globalism-wake-pandemic

  23. IFuckTheCabalInTheAss on Tue, 30th Mar 2021 11:04 am 

    SpaceX’s Starship SN11 launches in heavy fog, misses landing in apparent failure

    Look they add fog to their CGI movie to hide how fake it is. The Cabal/UN/CIA/KGB/MI6/WEF/WHO/Intelligence agencies of the world/Satanists are at it again.

    They really consider the earth as their personal play ground and only care about their self. Fucking sexual deviant, greedy mentally sick people

  24. IFuckTheCabalInTheAss on Tue, 30th Mar 2021 11:06 am 

    I forgot to add the link. Here it is https://www.youtube.com/watch?v=t1t2IXx1yOc

  25. youFuckingPiecesofShits on Tue, 30th Mar 2021 11:46 am 

    You fucking pieces of shit The Cabal/UN/CIA/KGB/MI6/WEF/WHO/Intelligence agencies of the world/Satanists.

  26. GoFUckYourselfEurope on Tue, 30th Mar 2021 4:07 pm 

    24 World Leaders Call For More Globalism In Wake Of Pandemic

    https://www.zerohedge.com/geopolitical/24-world-leaders-call-more-globalism-wake-pandemic

    This is the list:

    J. V. Bainimarama, prime minister of Fiji;
    António Luís Santos da Costa, prime minister of Portugal;
    Klaus Iohannis, president of Romania;
    Boris Johnson, prime minister of the United Kingdom;
    Paul Kagame, president of Rwanda;
    Uhuru Kenyatta, president of Kenya;
    Emmanuel Macron, president of France;
    Angela Merkel, chancellor of Germany;
    Charles Michel, president of the European Council;
    Kyriakos Mitsotakis, prime minister of Greece;
    Moon Jae-in, president of the Republic of Korea;
    Sebastián Piñera, president of Chile;
    Carlos Alvarado Quesada, president of Costa Rica;
    Edi Rama, prime minister of Albania; Cyril Ramaphosa, president of South Africa;
    Keith Rowley, prime minister of Trinidad and Tobago; Mark Rutte, prime minister of the Netherlands; Kais Saied, president of Tunisia;
    Macky Sall, president of Senegal;
    Pedro Sánchez, Prime Minister of Spain;
    Erna Solberg, prime minister of Norway;
    Aleksandar Vučić, president of Serbia;
    Joko Widodo, president of Indonesia;
    Volodymyr Zelensky, president of Ukraine;
    Dr Tedros Adhanom Ghebreyesus, director-general of the World Health Organisation

    You call suck my asshole and eat my shit. Notice a lot of Europeans name on the list. I have always said globalism is a European invention to steal other nations natural resources, skilled people. I guess the Cabal is really European leaders and England leaders.

  27. GoFUckYourselfEurope on Tue, 30th Mar 2021 4:21 pm 

    More than 20 heads of government and global agencies are calling for a treaty on international pandemic preparedness. Canada, the U.S., Russia and China are not among signatories.

    https://www.youtube.com/watch?v=Zn_8nOn0cp8

  28. GoFUckYourselfEurope on Tue, 30th Mar 2021 5:07 pm 

    OutcastPhilosopher : The amount of craziness that is about to be unleashed is going to dwarf anything ever seen.

    ——————————————-

    Yes. The system is too unstable to be saved

  29. CanadaAndQuebecCanGoFuckThemself. on Tue, 30th Mar 2021 5:59 pm 

    Canada and Quebec can go fuck themself.

    Canada will apologize to all-Black WWI battalion

    https://www.youtube.com/watch?v=8QbFjOmIVBc

    I would like to repeat that I am an White man I get it now, this woke language.

    As a White man I have privileges and I am systemically racist ( meaning I am racing toward everyone that is not Whites). I get it people.

    I will correct my behavior by steeping aside and letting Women, Jews,black, brown shit diversity, native build us a low energy civilization. I don’t want to get in the way by involving my self in anyway, because I could send the message that I am using my Whites privileges.

    Good luck stupid dumb asses.

  30. CanadaAndQuebecCanGoFuckThemself on Tue, 30th Mar 2021 6:09 pm 

    Le sénateur Pierre-Hugues Boisvenu explique son projet de loi sur la violence conjugale

    https://www.youtube.com/watch?v=4zaUaWwYRzI

    I would like to repeat that I am an White man and I get it now, this woke language.

    As a White man I have privileges and I am systemically racist ( meaning I am racist toward everyone that is not Whites). I get it people.

    I will correct my behavior by steeping aside and letting Women, Jews,black, brown shit diversity, native build us a low energy civilization. I don’t want to get in the way by involving my self in anyway, because I could send the message that I am using my Whites privileges.

    I wii stay sit on my ass until the electrical grid goes down and 90 % of Canada population is dead

    Good luck stupid dumb asses.

  31. CanadaAndQuebecCanGoFuckThemself on Tue, 30th Mar 2021 6:36 pm 

    The Disclosure to Protect Against Domestic Violence Act, the provincial version of Clare’s Law, will allow people who feel they are at risk to apply for a disclosure to find out if their partner has a history of domestic violence. It will also allow police to proactively initiate a request if they have reason to suspect a person is at risk of domestic partner violence.

    https://www.youtube.com/watch?v=YhPHf_NnWnE

    Wise man like me will avoid women with these kind of law and will simply chect out like I did and countless orther man did. The speed at which politicians are installing chaos in Canada is something only mentally sick people can do

    I would like to repeat that I am an White man and I get it now, this woke language.

    As a White man I have privileges and I am systemically racist ( meaning I am racist toward everyone that is not Whites). I get it people.

    I will correct my behavior by steeping aside and letting Women, Jews,black, brown shit diversity, native build us a low energy civilization. I don’t want to get in the way by involving my self in anyway, because I could send the message that I am using my Whites privileges.

    I wii stay sit on my ass until the electrical grid goes down and 90 % of Canada population is dead

    Good luck stupid dumb asses.

  32. ForYourEntertainment on Tue, 30th Mar 2021 7:12 pm 

    Australia Premier Dan Andrews has disappeared from public eye. The Alliance is attacking MSM news outlet now and certain media outlets have been under attack. Certain countries are being red-pilled and being shown videos of satanic ritual abuse, UFOs and elite crimes. The Alliance has planned a major attack on the Kabal with getting the Evergreen container ship stuck in the Suez Canal. I’m sharing research on solutions for Morgellon disease and infestation of this alien nanobot fibre.

    https://www.youtube.com/watch?v=aoiXRiSW9og

  33. ForYourEntertainment on Tue, 30th Mar 2021 7:44 pm 

    YouTube is deep state. Full video.with robot

    https://ugetube.com/watch/premier-d-andrews-gone-alliance-attacking-certain-msm-outlets-certain-countries-being-red-pilled-eve_Nh1638vtfhaSA46.html

  34. MoreDeepFake on Tue, 30th Mar 2021 8:30 pm 

    Doug Ford is deep fake. 8:13

    https://www.youtube.com/watch?v=GjKwpEXYe7w

    Legault deep fake also 22:38 31:53

    https://www.youtube.com/watch?v=RLYb6POGLi4

    IAm a fucking loser putting comment on hee

    The deep stste is big as fuck. Tough to believe

  35. MoreCabalBullshit on Tue, 30th Mar 2021 10:19 pm 

    China launches new satellite for land resources survey

    https://www.youtube.com/watch?v=8wx7NaY98pg

    The Cabal really own this earth and it is their personal playground. You have to give it to the Cabal, their fake script is well written. I guess we are entertainment for them. There is no space, the earth is flat

  36. WeHaveBeenAssFuckedForSoLong on Tue, 30th Mar 2021 10:45 pm 

    StarvingLion » Tue 30 Mar 2021, 23:34:04
    You are all headed to PRISON LABOR CAMPS:

    INTEL – Why Trump Fenced Off DC & Moved Out – Never to Return to the White House?

    What is Maritime Law?
    Jan 20, 2021

    —————————-

    Yes.Marime Law. earth is a maritme vesel, s

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