Kuwait Petroleum Corporation (KPC) is planning to ship 2 million barrels of Kuwaiti crude oil to Vietnam for refinement, reports KUNA.
The shipment of crude oil will go to a refinery in the Nghi Son area to ensure that is has sufficient stocks for current operations. The company will continue to supply the refinery in accordance with previous agreements, Essam El Marzouq, Kuwait’s Minister of Oil, stated in a press release and reported in Kuwait Times.
The refinery, a project of Kuwait Petroleum International Q8, was designed to refine Kuwaiti crude oil by 100% and has a refining capacity 200,000 b/d, according to Al-Marzouq.
Al-Marzooq highlighted the significance of the Q8 project in strengthening Kuwait’s international oil relations with Vietnam and its role in achieving KPC’s objective of secure long-term outlets for Kuwaiti crude oil.