Kuwaiti Refineries Targeting 1.6mn bpd Runs "Soon"

Kuwait’s three refineries are currently processing 1.4 mn bpd of crude daily and expect to raise rates that to 1.6 mn bpd “soon” according to Kuwait Petroleum chief, Sheikh Nawaf Al-Sabah on Tuesday.

• The domestic refining increase means Kuwait may have less oil to export in the future after ramping up its new Al-Zour refinery.
• Al Zour is helping Kuwait to meet its OPEC+ commitment by allowing domestic heavy crude flows to be directed towards the refinery.
• “Al-Zour is running as much heavy oil as possible,” Sheikh Nawaf said in Houston. “What we are trying to do is maximize as much heavy oil into that refinery as possible since they get a lower netback in the market,”