Kuwait National Petroleum Company issued a tender to sell naphtha — used in gasoline and plastics production — requiring buyers to pick up cargo at a deep-Gulf port, transport by sea and charter vessels themselves. Traders said it is the first such buyer-collect offer in years. The move coincides with rising Strait of Hormuz traffic and oil producers’ steps to restore supplies after a temporary US‑Iran peace agreement.

2026-06-22

Kuwait National Petroleum Company issued a tender to sell naphtha — used in gasoline and plastics production — requiring buyers to pick up cargo at a deep-Gulf port, transport by sea and charter vessels themselves. Traders said it is the first such buyer-collect offer in years. The move coincides with rising Strait of Hormuz traffic and oil producers’ steps to restore supplies after a temporary US‑Iran peace agreement.