Historic surge in Kuwait’s fuel oil exports driven by Al-Zour refinery
Low-sulfur fuel oil exports reach unprecedented levels
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KUWAIT CITY, March 3: In February, Kuwait experienced a historic surge in fuel oil exports, driven by the Al-Zour refinery reaching full processing capacity, reports Al-Qabas daily. Data compiled by “MEED” from the trading platform “Kpler” and the London Stock Exchange Group (LSEG) indicates that Kuwait’s refined product exports, particularly low sulfur fuel oil (VLSFO) crucial for shipping, reached unprecedented levels.
Kuwait’s oil exports in February totaled 720,000 metric tons, equivalent to 158,000 barrels per day. Approximately 60% of these exports consisted of low sulfur fuel oil, with high-sulfur fuel oil (HSFO) making up the remaining 40%. This surge in low-sulfur fuel oil exports follows a slowdown in the previous quarter when supplies were redirected to domestic power generation. Since the Al-Zour refinery began operations, over 50% of Kuwait’s low-sulfur fuel oil exports have been directed to Singapore, the world’s leading bunkering port.
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