Kuwait Offers More Gasoline For Export

Kuwait offered significantly more gasoline for export last month, with KPC issuing three spot tenders for a total of 93,000t to load in May according to Argusmedia.

• KPC recently sold a 35,000t gasoline cargo for loading in June and has issued a tender to sell another 35,000t in July. Prior to that, KPC issued spot tenders for one gasoline cargo to load in each of February, March and April and three cargoes to load in August last year.
• The UAE, Nigeria and Tanzania have been the top buyers of Kuwaiti gasoline this year, according to data from oil analytics firm Vortexa.
• In contrast, it has not issued any spot tenders to buy gasoline supplies since November 2022, which is when the first crude distillation unit the new 615kbpd al-Zour refinery came online.
• Al-Zour's third and final crude unit is due for completion this month, which will bring Kuwait's total refining capacity to 1.415mnbpd. The start up of the third unit is scheduled for the end of summer.