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Macquarie walks away from Kuwait oil pipelines deal amid Iran war: Sources to Reuters

Middle East News

17-03-2026 | 09:05

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Macquarie walks away from Kuwait oil pipelines deal amid Iran war: Sources to Reuters

Macquarie has withdrawn from bidding for a stake in Kuwait's oil pipeline network worth up to $7 billion, two sources familiar with the matter said, becoming one of the first known investors to pull out of ‌a Gulf deal due to the Iran war.

The Australian infrastructure investor notified Kuwait Petroleum Corporation on Friday that it was exiting the process because of the conflict and uncertain outlook, one source said, as dealmakers try to press ahead with the transaction despite unprecedented regional volatility.

The move is a sign that the conflict is cooling investor enthusiasm for the Gulf, where millions of barrels of crude are stranded after Iran effectively shut the Strait of Hormuz.

Kuwait has no export route for its crude other than the narrow waterway between Iran and Oman, through which a fifth of global oil supply normally flows.

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