For the first time since the Iran-Iraq War! Kuwait Oil Company restarts port naphtha tender.

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Kuwait Petroleum Corporation (KPC) has restarted its first port naphtha spot tender to the market since the outbreak of the US-Iran war, signaling a substantial loosening in Kuwait’s oil export channels.

According to Reuters, citing trading sources and a obtained document, KPC has issued a tender to sell spot naphtha cargoes loaded from Kuwaiti ports in July. This is the first time the state-owned oil company has resumed such direct offers from Kuwaiti ports since the outbreak of the US-Iran conflict. The tender closes and is valid on June 22.

The direct significance of this tender is that supplies of petrochemical feedstock from Kuwait’s main export ports are reopening to the spot market, offering new sources of supply for Asian naphtha buyers. Previously, due to regional tensions, Kuwait suspended spot sales of naphtha through its ports for several months.

Tender Volume and Shipping Details

According to relevant documents, KPC is offering two volume options in this tender: 55,000 metric tons (about 495,000 barrels) or 80,000 metric tons of naphtha, with loading scheduled for July 5-6 at any Kuwaiti port.

Reuters sources indicate that KPC last issued such a naphtha tender in January this year, targeting shipments in February. This means prior to this tender, the company’s port naphtha spot sales had been suspended for about five months.

Alternative Solutions via Other Ports

During the interruption in direct port shipments, KPC did not completely exit the market. Reuters reported that earlier this month, KPC used ship-to-ship transfers at locations such as India’s west coast, offshore Oman, and Fujairah storage tanks to supply products including diesel and naphtha for June prompt shipments.

These operations show that while regional tensions restricted normal export processes at Kuwait’s domestic ports, the company maintained some business activities by relocating loading locations. The resumption of direct port tenders is seen by industry insiders as a positive signal for supply chain normalization.

KPC did not respond to Reuters’ request for comment outside of business hours.

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