(MENAFN) State-run Kuwait Petroleum Corporation (KPC) and China's UNIPEC signed a significant deal that would almost double crude oil deliveries over a decade, QNA reported.
Under the agreement, KPC will provide UNIPEC crude oil, starting from 2014, with the volume expected to reach 300,000 barrels per day (bpd).
According to KPC, it is a strategic contract based on cost-and-freight (C&F) basis, which will involve utilizing of Kuwait Oil Tanker Co. Fleet.
"We are very proud to sign this 10-year contract, which marks an excellent achievement as a package," KPC International Marketing Managing Director said.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.