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Kuwait’s crude production capacity hit over 2mln bpd from nothing at height of conflict
Kuwait Petroleum Corporation (KPC) has increased its crude production to more than 2 million barrels per day (bpd) from almost nothing during the height of the Middle East crisis, CEO Sheikh Nawaf Al-Sabah told Bloomberg.
“Now that the shipping is going through, we are committed to raising our production to as high as we can to accommodate the requirements of our customers. We are working through the Strait of Hormuz and are looking at future alternatives,” he said.
The company can reach pre-war capacity of 2.7 million bpd if and when additional ship security is provided, the CEO told the news agency.
One of the world’s biggest refineries that produces jet fuel and diesel is in Kuwait, Al-Sabah said, adding the company wants more product carriers to come into the Gulf to carry that product out.
“If you have a safe escort, then more and more tankers will come from the international community. We are using our strategic tanker fleet to shuttle crude and product out through the strait through ship-to-ship transfer,” he said.
Source: www.zawya.com
