Commercial sources have announced that Kuwait's Al-Zour Refinery has issued its first tender for fuel oil after a suspension lasting approximately eight weeks. The refinery had halted its tenders due to a partial closure at its complex. Market participants are closely monitoring the low-sulfur fuel oil tenders, as the refinery is set to become a significant source of low-sulfur fuel oil when fully operational.
The refinery is offering a quantity of between 120,000 and 150,000 tons of low-sulfur fuel oil for loading between May 27 and 28, with the tender closing on May 15. The last tender for low-sulfur fuel oil was closed on March 21, when about 120,000 tons were offered for loading between April 7 and 8.
The refinery is owned by the Kuwait Integrated Petroleum Industries Company (KIPIC) and has resumed full refining operations after a partial stoppage due to technical issues. Al-Zour Refinery has been issuing low-sulfur fuel oil tenders every week or every two weeks since it boosted its exports this year.
