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Regional unrest may prompt Kuwait Energy may delay IPO

10 April 2011

Plans by Kuwait Energy for an initial public offering (IPO) of its shares on the London Stock Exchange may be deferred due to regional political unrest, The National has reported. The private oil and gas producer said it could also delay planned oil and gas exploration in Yemen but is proceeding with projects in Iraq and Egypt. "We've always said our IPO will be subject to market conditions and we know the market conditions aren't ideal as far as the Middle East region is concerned," Paul Ditchburn, vice president of planning and portfolio management at Kuwait Energy, said.

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