Kuwait Declares Further Force Majeure on Oil Shipments
Bloomberg • • world
Key Points:
- Kuwait Petroleum Corp. has declared an additional force majeure on crude oil and refined product shipments, indicating it cannot fully meet customer obligations even if the Strait of Hormuz reopens.
- The force majeure declaration allows Kuwait to suspend contractual deliveries due to circumstances beyond its control.
- This is a continuation of a previous force majeure declared in early March amid ongoing disruptions.
- The notice was issued to customers on Friday, highlighting ongoing challenges in Kuwait's oil export capabilities.
