Kuwait National Petroleum Company announced on the 25th that its subsidiary has signed a $16 billion cooperation agreement with a consortium of international investors including Blackstone, Brookfield, and KKR to jointly develop the domestic crude oil pipeline network. The two parties will establish a joint venture, with the Kuwaiti side retaining a controlling 51% stake. The transaction is expected to provide $7.85 billion in initial funding to achieve the goal of producing 4 million barrels o

According to the Financial Times, JPMorgan CEO Jamie Dimon had a phone conversation with the UK Chancellor of the Exchequer, Rachel Reeves, last week, warning her not to raise taxes on the banking industry. The UK government is currently considering introducing new taxes on banks before the October budget. Dimon stated that an uncompetitive tax regime could weaken London as a financial center, potentially leading to an outflow of capital and financial jobs from the UK.

Norwegian natural gas operator GASSCO issued a notice stating that the KOLLSNES natural gas processing plant in Norway experienced an unplanned shutdown from August 16 to 17, which will result in a daily reduction of 12 million cubic meters in the plant’s natural gas output.

Norwegian company Gassco plans to suspend operations at the Karsto gas field from 4:00 AM on August 17 to 4:00 AM on August 18, during which daily natural gas supply will be reduced by 5 million cubic meters.

Cargo tracking in the Strait of Hormuz is increasingly difficult, with shipping remaining sluggish