Al Zour awards first low-sulphur fuel oil tender to oil major

By Reuters

Published: Mon 21 Nov 2022, 6:23 PM

Kuwait refinery Al Zour has awarded its first low-sulphur fuel oil (LSFO) tender to an oil major, several industry sources said on Monday.

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The cargo was sold at a premium of about $17 a tonne to Singapore quotes on a free-on-board basis.

The refinery had offered 100,000 tonnes of the product for loading between November 28 to 29, in a tender that closed on November 18.

The port of discharge was not immediately clear, though industry sources said that the cargo is either headed to Asia or the United States Gulf Coast.

KIPIC is an affiliate of Kuwait Petroleum Corp (KPC), neither of which responded immediately to requests for comment. — Reuters

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