Kuwait City, Kuwait– Kuwait National Petroleum Company has exported the first shipment of the advanced diesel fuel to the European markets in light of the severe shortage of energy sector in the continent.
Kuwaiti media reports said the company shipped 66,000 tons, and the shipment was produced with special specifications that fulfil the European markets’ requirements, especially in winter season.
The fuel conforms to the advanced and environmental standards with its distinguished quality.
The energy sector in Europe faces unprecedented crisis and upsurge in the prices of electricity and gas, especially after launch of Russian-Ukrainian war and the imposition of US sanctions on Moscow.
Oil merchants increased diesel shipments from Asia and the Middle East to Europe in October to profit from a wide price gap between the regions, following weeks-long strikes at French refineries, that had reduced stock levels.
According to ship tracking data from Refinitiv, about 289,000 tons of gasoil was to be loaded from South Korea and China to northwest Europe in October, up from 137,500 tons in September.
