Investors compete for $7B stake in Kuwait oil pipeline network

BlackRock, Brookfield, EIG Global Energy Partners, KKR and Apollo are among the global investment firms bidding for a roughly $7 billion stake in Kuwait Petroleum Corporation’s oil pipeline network.

KPC has asked some bidders to recruit additional investors, allowing smaller funds with existing relationships with the state oil company to join consortium bids, Reuters reports.

The sale is part of a broader effort by Gulf energy companies and sovereign investors to raise capital by monetizing infrastructure assets while attracting foreign investment.

Proceeds from the sale are slated to support economic diversification and domestic investment plans beyond oil.