To ensure the safe transport of crude oil and petroleum products to buyers, the Kuwait Petroleum Corporation (KPC) is offering ship-to-ship transfer options outside the Strait of Hormuz.
Sea-news.az reports that Sheikh Khaled Ahmed Al-Sabah, KPC’s General Manager of Global Marketing, shared this information in a statement to Reuters.
According to him, amid the ongoing war between the United States and Iran, buyers and shipping companies are refraining from using ports located within the Strait of Hormuz due to heightened security risks. Consequently, Kuwait Petroleum Corporation is providing alternative shipping options to meet customer demand.
It was noted that other regional oil producers, such as Qatar, the United Arab Emirates, and Iraq, are also supplying crude oil to buyers via ports situated outside the Strait of Hormuz.
According to the report, KPC offered naphtha for sale under delivery terms on board the vessel at the destination port as part of a series of tenders held in August and September.
The Corporation previously offered naphtha on a delivered-on-board basis even before the conflict began. The company resumed its oil cargo sales in June, following the outbreak of the U.S.-Iran war in February.
