Kuwait Petroleum Corporation Kuwait Petroleum Corporation
Tankers

Kuwait Petroleum returns to spot naphtha market for the first time since US-Iran war

Reuters

Kuwait Petroleum Corp (KPC) has issued a tender to sell spot naphtha cargoes for July loading from its ports, marking its first such offer since the onset of the US-Iran war, according to trade sources and a document reviewed by Reuters.

The state-owned oil firm is offering either 55,000 tonnes (495,000 barrels) or 80,000 tonnes of the petrochemical feedstock, with loading scheduled for July 5-6 at any Kuwaiti port, the document showed.

The tender closes on June 22 with same-day validity.

KPC did not immediately reply to a Reuters request for comment outside of the company's working hours.

The refiner's last such naphtha tender was for February shipments in January, two of the sources said.

Earlier this month, KPC offered prompt June-loading refined fuels such as diesel and naphtha via ship-to-ship transfer loadings off west coast India or Oman and from Fujairah tanks.

(Reporting by Trixie Yap and Mohi Narayan; Editing by Sherry Jacob-Phillips)