Bid & Tender

News

KPC Exports First Light Crude Shipment

Kuwait Petroleum Corporation (KPC) has exported its first high-quality light crude oil shipment, it has been announced.

 

"This achievement is considered the fruit of a continuous cooperation between Kuwait oil companies and the world's marketing sector, and this is a historical step in the oil industry of Kuwait," said Kuwait's Oil Minister Bakheet Al-Rashidi.

 

"It is an important step in strengthening Kuwait's status among oil exporting countries in the world and to reinforce local economy, especially that this light crude oil is in high demand worldwide," Al-Rashidi noted.

 

Light crude oil has a low density and flows freely at room temperature. It generally has a low wax content, and receives a higher price than heavy crude oil on commodity markets because it produces a higher percentage of gasoline and diesel fuel when converted into products by refineries.

BACK

Related News