KPC Signs First Fixed-Term Naphtha Delivery Deal at Destination Port
The Kuwait Petroleum Corporation signed an agreement for naphtha delivery at the destination port to avoid shipping disruptions in the Strait of Hormuz.
Translated by Qiyas from الجريدة — Original source
Sources familiar with the matter said on Thursday that the Kuwait Petroleum Corporation (KPC) had, for the first time, signed a time-bound naphtha contract on a delivered-at-destination basis, amid disruptions to loading operations on a delivered-on-board basis at the Strait of Hormuz.
The contract for full-range naphtha shipments, scheduled for delivery between December 2026 and November 2027, was concluded at a premium of approximately $75 per ton above Japan Crude Cocktail (JCC) prices.
This time-bound agreement aligns with the company’s spot sales offers since the outbreak of the war in the Middle East, all of which have been delivered on a delivered-at-destination basis.
