Kuwait Offers 35,000 Tons of Naphtha for November Delivery to Asia

Kuwait Offers 35,000 Tons of Naphtha for November Delivery to Asia

Kuwait Petroleum Corporation (KPC) has offered 35,000 metric tons of full-range naphtha for delivery to buyers in Asia in November, according to a tender document reviewed by Reuters.

The cargo is scheduled to load between November 16 and 30, with bids due on October 29 and valid only that day. The tender specifies delivery on a delivered basis at the buyer’s destination port in Asia, according to the document.

The offer follows a recent sale by Kuwait’s state-owned refiner of 85,000 tons of full-range naphtha for early-November delivery at a higher-than-usual price, Reuters reported. The report did not disclose the sale price or identify the buyers.

The tender comes amid continued uncertainty in Asian naphtha supply following disruptions to Middle Eastern exports and shipping through the Strait of Hormuz. In September, Kuwait Petroleum Corporation and the UAE’s ADNOC had increased naphtha exports to Asia using ship-to-ship transfers outside the Strait of Hormuz. The two companies shipped nearly 1.6 million metric tons in August and September, more than double the approximately 700,000 tons recorded in March and April.

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Sarah Samir 4399 Posts

Sarah has been writing in the oil and gas field for 8 years. She has a Bachelor Degree in English Literature. She has three years of experience in the banking sector.

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