March 25, 2020 / 9:44 AM / 12 days ago

Kuwait Petroleum to cut operational, capital expenditure -local media

DUBAI, March 25 (Reuters) - State-run Kuwait Petroleum Corp. has instructed all subsidiaries to cut capital and operating spending this year due to the steep slide in oil prices caused by the collapse of coordinated output cuts by producers and the spread of the coronavirus, Kuwaiti newspapers reported on Wednesday. (Reporting by Rania El Gamal and Dahlia Nehme; editing by Jason Neely)

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