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Japan, UK, US banks eye $1 bln loan to Kuwait Petroleum Corp


A group of Japanese, British and U.S. banks is considering jointly extending $1 billion in loans to Kuwait Petroleum Corp to help boost oil production and ease tight supplies, the Nikkei business daily said on Saturday, Apr 02.

Disruptions caused by the war in Ukraine and sanctions on Russia have dominated oil markets for the past few weeks, skyrocketing prices. Source: Nikkei Asia

Participating banks include Mizuho Bank, which is the main banking unit of Japan’s Mizuho Financial Group, British lender HSBC and JPMorgan of the United States, the newspaper said.

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