IPG secures over $1 billion in credit facility renewals

Kuwait’s Independent Petroleum Group (IPG) announced today (Wednesday) that it has signed agreements to renew credit facilities with four local banks — both commercial and Islamic — totaling 326.64 million dinars (approximately $1.068 billion).

In a statement to the Kuwait Stock Exchange, the company explained that the renewed credit lines are intended to support and finance its ongoing oil-related operations, reports Al-Jarida daily.

This strategic move reflects IPG’s commitment to maintaining financial flexibility and sustaining its core energy activities amid dynamic market conditions.