Kuwait is working to establish an oil trading arm in the near future. Sheikh Khaled Al Sabah, Managing Director of International Marketing at state firm KPC, told media on the sidelines of this week’s MPGC conference in Dubai that “it’s on the way…very soon you will hear something.” Precise details are still being finalized, and Sheikh Khaled says it has not yet been decided whether the firm will handle third-party volumes. “The main thing is to think about the Kuwaiti hydrocarbons,” he says.
The entity’s operations would likely extend to marketing KPC’s 50% equity volumes from the 230,000 b/d OQ8 refinery at Duqm, Oman, which is due online by the end of the year. (CONTINUED - 118 WORDS)