Iran & Kuwait Petroleum Corporation — Kuwait Oil Company

Iran: Iran has effectively closed the Strait of Hormuz since U.S.-Israeli attacks in late February, directly causing the supply crisis and impacting global oil transit.

Kuwait Petroleum Corporation — Kuwait Oil Company: Kuwait Petroleum Corporation — Kuwait Oil Company is tasked with the full resumption of operations in the Kuwaiti oil sector, with plans to achieve full capacity between September and October due to ongoing maintenance and well disruptions.

Iran: Iran is the other primary belligerent, launching attacks on Gulf states and US forces. It faces US airstrikes and economic blockade, with reportedly over 3,300 casualties.

Kuwait Petroleum Corporation — Kuwait Oil Company: KOC's offshore drilling platform was attacked by a drone, causing damage and injuries.

Iran: Iran is mentioned as having attacked U.S. military depots in Kuwait, creating a challenging regional environment, but is not directly involved in the pipeline deal.

Kuwait Petroleum Corporation — Kuwait Oil Company: KOC is the operating entity that retains control of the pipeline network and receives the upfront proceeds to fund its 2035 production target.