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KPC: The global marketing sector succeeded in marketing heavy oil despite the Corona pandemic

15-08-2021

The Deputy Managing Director of Sales in the Global Marketing Sector of the Kuwait Petroleum Corporation, Sheikh Khaled Al-Sabah, affirmed the continued success of the global marketing sector of the Corporation represented in the management of crude oil sales in marketing Kuwaiti heavy crude oil since the beginning of its export for the first time in May 2020 after passing many marketing challenges that faced the sector. During the decline in global demand for crude oil due to the repercussions of the Corona virus pandemic. Sheikh Khaled Al-Sabah added in a statement to Kuwait News Agency (KUNA) today, Sunday, that the role of the global marketing sector complements the role of the Kuwait Oil Company in developing the best opportunities for marketing heavy oil according to the highest economic returns and enhancing the return on investment in heavy oil production facilities. He valued the efforts of workers in the global marketing sector and their vital role through their distinguished relations with major international oil companies to market heavy oil shipments after completing the sale of nearly 18 million barrels of Kuwaiti heavy crude oil for the period from May 2020 to September 2021 according to the highest prices for heavy oil markets. . Sheikh Khaled Al-Sabah praised the role of the Crude Oil Sales Department and the national cadres working in it around the clock headed by the director of the department, Walid Al-Mukhaizeem, revealing the existence of joint future plans in cooperation with companies in the oil sector, namely (Kuwait National Petroleum Company, Kuwait Oil Company and Quebec), which would develop solutions To maximize the added value of heavy oil, which may return additional profits in the future. He added that the crude oil sales team was able to market Kuwaiti heavy crude oil in the most important Asian markets with growth, such as China, India and South Korea, which contributed to enhancing Kuwait's share in the promising Asian markets, which is the most important achievement arising from the efforts of all teams working in the global marketing sector, taking into account Taking into account the full commitment of the State of Kuwait to the production quota established according to the (OPEC +) agreement.