Moscow: Kuwait is satisfied with its stake in BP Plc and may increase its holding if market conditions are favourable, the nation's oil minister said.
"We already have a stake there," Shaikh Ahmad Al Abdullah Al Sabah said in Moscow yesterday.
"If Kuwait investment authorities see there are more attractive opportunities, I am sure they will take them depending on the market situation."
Europe's largest oil producer by volume plans to dispose of as much as $30 billion (Dh110 billion) in assets in the next 18 months to raise cash to meet the costs of the Gulf of Mexico oil spill. BP said it has $16 billion of unused credit lines and plans to cut its debt to as little as $10 billion over the same period.
