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REFINING: Al Zour Ramp-Up Reshaping Global Crude and Products Markets

REFINING
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Kuwait’s 615kbd Al Zour refinery ramped up in 2024, reshaping crude and oil product markets. The facility is fed solely by the nation’s crude. 

  • The facility ramp up has seen middle distillate flows towards Europe rise according to Vortexa tracking – creating a key market for its diesel and jet barrels. 40% of Al Zour clean product volumes headed for Europe this year.
  • A significant portion of Al Zour’s naphtha and VLSFO headed for Asian markets. Japan’s imports of Kuwaiti naphtha rose 50% y/y at the expense of Saudi and Qatari supplies.
  • Looking ahead to 2025, under a backdrop of weaker product demand in Europe and Asia, Kuwait may seek to diversify away from its core markets and potentially look increasingly to East & South Africa Vortexa said, mirroring an approach taken by Oman's new Duqm refinery.

 

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Kuwait’s 615kbd Al Zour refinery ramped up in 2024, reshaping crude and oil product markets. The facility is fed solely by the nation’s crude. 

  • The facility ramp up has seen middle distillate flows towards Europe rise according to Vortexa tracking – creating a key market for its diesel and jet barrels. 40% of Al Zour clean product volumes headed for Europe this year.
  • A significant portion of Al Zour’s naphtha and VLSFO headed for Asian markets. Japan’s imports of Kuwaiti naphtha rose 50% y/y at the expense of Saudi and Qatari supplies.
  • Looking ahead to 2025, under a backdrop of weaker product demand in Europe and Asia, Kuwait may seek to diversify away from its core markets and potentially look increasingly to East & South Africa Vortexa said, mirroring an approach taken by Oman's new Duqm refinery.

 

Keep reading...Show less