Weekly MENA Newsletter will be delivered to your email in PDF format every Friday (52 Issues per Year).
Weakness in global oil markets has significantly hit the profits of state refiner Kuwait National Petroleum Company (KNPC), according to CEO Muhammad al-Mutairi. Yet, while Kuwait is the only GCC country that has not reduced subsidies on transport fuels, diesel – its main export – currently fetches more on the domestic market than on the Middle East spot market.
The bulk of KNPC’s income normally comes from products exports, which account for almost 75% of refinery output. In the first three quarters of 2015, KNPC refineries delivered an average 1.07mn b/d of products, according to Jodi, while total products exports averaged 792,000 b/d.
DON'T HAVE AN ACCOUNT?
NEED TO UPGRADE YOUR CURRENT SUBSCRIPTION?
By upgrading your Print or Digital subscription you will gain access to the MEES Archives Database with past articles and data dating back from 1984.UPGRADE