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Kuwait Oil Products Exports Rose 30% YoY In Jan On Al Zour Start Up

OIL PRODUCTS

Kuwait’s key refined products exports hit a record level of 17mn barrels in January, up 30% on the year, as Al Zour shipped more fuel oil to the Singapore Strait, diesel and jet fuel to Europe, and naphtha to China, South Korea and Japan, Kpler data showed.

  • Al Zour’s second CDU is expected to start up in April and March, while the third one could come online by August.
  • “Full impact to the products market will likely be felt in H2 2023,” FGE’s Asia refining head Ivan Mathews said.
  • Al Zour is working on producing diesel that meets European specifications, one of the sources said, as Europe is currently short of around 745,000kbpd of diesel following the embargo.
  • Annual diesel exports could reach up to 143,000 bpd, while jet volumes could hit 97,000 bpd once the refinery reaches full capacity.
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