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FINANCIAL NEWS
Kuwait to launch energy trading venture
28 Jul 2017
(MENAFN) Kuwait aims to start trading energy and not only producing it, joining the other Mideast producers eager to claw back some of the revenue traders like Vitol Group and Glencore.
Currently, Kuwait Petroleum Corp is in talks with both commodities dealers along with some global oil firms about making a mutual venture to trade refined products by 2018.
In addition, KSA and Oman already have trading units and Abu Dhabi National Oil Co. proclaimed that this month it may seek partners as it increases into trading.
The firm is discussing its plans for a trading venture with oil producers BP, Royal Dutch Shell and Total, as well as with Vitol and Glencore.
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