Kuwait- KPC signs contract with int'l company for exporting 100000 bpd
Date
2/17/2016 7:10:50 AM
(MENAFN- Kuwait News Agency (KUNA)) KUWAIT Feb 17 (KUNA) -- The Kuwait Petroleum Corporation (KPC) has signed a contract with an international company for exporting 100000 barrels per day (bpd) with expected annual revenues worth USD 2 billion.Speaking to KUNA KPC Managing Director for International Marketing Nabeel Bourisli said the contract was signed with a leading world oil refining company hailing it as a strategic significant contract that would promote Kuwait's position as a main oil supplier at Asian markets.The signing of the contract coincided with the KPC's Golf Tournament which kicked off on Tuesday and closes today (Wednesday) he said adding that the event attracted major world oil companies and refineries.Stressing the significance of this contract the KPC official said it came amid major circumstances and challenges the world oil market is facing mainly oversupply and global oil refineries' tendency to cut long-term contracts. (end) asj.mt
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.