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Jamal Iesa Al-Loughani, DMD International Marketing, Kuwait Petroleum Corporation (KPC)

Kuwait prioritises exports and flexibility as demand for crude continues to grow

5 February 2020

In this Global Platform video, Jamal Iesa Al-Loughani, DMD International Marketing, Kuwait Petroleum Corporation (KPC), talks about Kuwait Export Crude and upcoming plans for the future. In response to growing demand, KPC will begin to export its new heavy crude material in 2020. Important developments for 2020 also include the new clean fuel project, which will introduce over 800,000 barrels per day of refined product, and the opening of a new refinery in Al Zour. Furthermore, a new onshore receiving terminal for liquefied natural gas is set to supply most of Kuwait’s gas requirements. 

Transcript:

Kuwait is very eager to establish a good and profitable relationship with the whole world. That’s why, actually, we have seen some of the joint ventures now going on. Already on the ground is our refinery in Vietnam. We have a 200,000 barrels per day (bpd). Also, we have a joint venture with Duqm Refinery in Oman, and we have a number of petrochemical joint ventures through our affiliates, PIC, all over the world, in Canada, U.S., Korea and China. Kuwait is known for Kuwait Export Crude grade, known as KEC. This grade has been supplied in the market for the last 70 years. We started to export our second grade, called Kuwait Super Light Crude. We will export a new grade next year, in 2020, which will be our Kuwait heavy crude material. The whole market is waiting because the demand is very high for the heavy material. 

Jamal Iesa Al-Loughani, DMD International Marketing, Kuwait Petroleum Corporation (KPC)

Submitted by egalit@oxfordbu... on 5 February 2020 - 4:07am

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