Kuwait extends oil supply contracts for Indian refiners by three months to March 2022 due to a delay in the commissioning of its 615,000 barrel-per-day Al-Zour refinery
Event Location
Kuwait, Kuwait
Start Time
30 December 2021, 12:00 AM
End Time
31 January 2022, 12:00 AM
Kuwait has extended contracts to supply oil to Indian refiners by 3 months until March 2022 due to the delay in operating the Al-Zour refinery, which has a capacity of 615,000 barrels per day, Reuters reported, citing well-informed sources.
The sources did not say when the new Kuwaiti refinery would start operating.
This year, Kuwait had shortened an annual oil supply deal with Indian refiners to 9 months ending in December.
The Kuwait Petroleum Corporation did not respond to a request for comment.
Trade data showed that India, the third largest importer and consumer of oil in the world, imported about 382,000 barrels per day from Kuwait in November, the highest level since March 2015, indicating that India’s oil imports from Kuwait rose from March to November 2021 by about 45 percent. 100 to 253,000 barrels per day compared to the same period a year ago.
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