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REFINING
Crude exports out of Kuwait dropped by over 400,000 bpd in July vs the 2022 average according to Kpler (see chart) but the crude is largely being redirected domestically towards the al-Zour refinery and is being exported in the form of products.
- It was reported last month that Kuwait’s 615,000 bpd Al-Zour refinery has brought its third and final crude distillation unit (CDU) online, putting Kuwait’s target to have the refinery achieve its full capacity by the end of September within reach.
- The refinery is helping to reshape global product flows by sending middle distillates to Europe and VLSFO to Asia.
source: Kpler
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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