SINGAPORE: Kuwait Petroleum Corp (KPC) is looking to acquire additional vessels as the state-owned energy company expands its shipping fleet amid ongoing disruptions to regional oil trade, a senior executive said on Tuesday.
KPC Managing Director for International Marketing Shaikh Khaled Al-Sabah said the company currently operates its own fleet and is actively exploring opportunities to purchase more ships.
The move comes as the US-Iran conflict creates growing uncertainty over oil transportation routes and regional energy supplies.
KPC is also evaluating alternative options to ensure reliable deliveries of crude oil and petroleum products to its customers, including the development and use of pipelines through neighbouring countries and additional oil storage facilities.
The company’s strategy reflects growing efforts by Gulf energy producers to diversify transportation and storage infrastructure and reduce their exposure to disruptions along key regional shipping routes.
By Reuters
