Kuwait Petroleum Corporation (KPC) hopes to secure long-term supply contracts with Asian buyers, a primary concern driving efforts to build JV refineries in the Gulf state’s crude markets. It hopes to secure such deals with or without finalizing the planned JVs.

Kuwait this week signed a 10-year crude supply deal with China. It hopes to export 500,000 b/d to China within three years, more than double current volumes (see table). (CONTINUED - 251 WORDS)