en.Wedoany.com Reported - Kuwait has recently launched a naphtha loading tender, allowing buyers to take delivery directly at its deep-water port in the Persian Gulf, marking the first such sale by the country in months.

According to a report by Bloomberg citing tender documents, state-owned Kuwait Petroleum Company (KPC) has issued a tender to sell naphtha cargoes, with delivery at Kuwaiti ports.

This tender from Kuwait indicates that Gulf producers are optimistic about a rebound in production and the volume of crude oil and refined product shipments following the reopening of the Strait of Hormuz.

During previous tensions in the Strait of Hormuz, Kuwait had required potential buyers to charter their own tankers to lift oil from its ports in several sales. However, hours after the United States and Iran signed a memorandum of understanding to reopen this key oil and liquefied natural gas channel, tanker traffic through the Strait of Hormuz faced new uncertainties. Iran claimed to have closed the strait due to Israeli attacks on Lebanon, while the United States insisted the waterway remained open, with millions of barrels of oil flowing out of the Gulf.

The situation remains unstable, but oil-producing countries in the Middle East Gulf, particularly Kuwait, which relies entirely on the Strait of Hormuz for its exports, appear to be preparing to increase production that was halted during the early stages of the crisis.

Sheikh Nawaf Saud Al-Sabah, Deputy Chairman and CEO of Kuwait Petroleum Company (KPC), stated that with the reopening of the Strait of Hormuz, Kuwait expects to boost its daily oil production to 2 million barrels within a week, compared to an average daily output of just 573,000 barrels in May. He added that once regular international commercial shipping resumes at Kuwaiti ports, pre-war production levels could be restored within weeks.

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