Kuwait Petroleum Corporation (KPC) said that it is considering selling bonds to help pay for a planned investment of USD100 billion over the next five years to boost oil output. These plans are similar to plans by Saudi Arabia to maintain spending on energy projects amid a global battle for market share. State-run KPC’s CEO Nizar Al-Adsani  said that the company is looking at issuing bonds and Islamic notes known as sukuk. KPC had announced plans earlier this month to arrange a USD10 billion loan to expand refineries to make cleaner-burning fuels. Al Adsani said that the world market will need around 5 to 6 million barrels a day of new crude annually. And that this shows the importance of continuity in investments in upstream globally for the sake of stable market supply and to avoid volatility and spikes in oil prices. (Bloomberg)