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Kuwaiti Fuel Oil Exports at Record Export Pace in Feb Helped by Al Zour

OIL PRODUCTS

Kuwait’s fuel oil exports rose for a second consecutive month in February according to Kpler and LSEG figures - helped by Al Zour’s ramp up to full capacity.

  • FGE said Al Zour reached full capacity of 615,000 bpd for the first time in February, but further testing could see this ease again.
  • "We anticipate Al Zour's average runs in 2024 will be around 415,000 bpd (67%), with a sweet spot ranging from 400,000 to 450,000 bpd," FGE said.
  • Kuwaiti fuel oil product exports hit a record high of 720,000 metric tons or 158,000 bpd in February – 60% VLSFO and 40% HSFO.
  • KPC increased the number of spot VLSFO tenders from Al Zour to three in February according to Reuters sources.
  • 50% of Al Zour’s VLSFO has headed to Singapore since operations started.
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