KPC propane, butane exports fall 4.5% in fiscal year

Kuwait Petroleum Corporation (KPC) experienced a 4.5% decrease in propane and butane exports during the fiscal year concluding March 31. The total volume shipped to foreign markets dropped to 5,923 metric tons, a reduction from the 6,200 metric tons exported in the preceding fiscal year, according to an official government report.

An oil expert cited two primary strategic factors behind this export decline. Firstly, logistical challenges arose from increased maritime traffic and military operations in crucial energy supply routes during the final quarter of the fiscal year. These heightened geopolitical risks compelled KPC's oil sector to declare force majeure and temporarily halt some export operations.

Secondly, the expert pointed to KPC's strategic decision to re-prioritize domestic energy needs. Amid escalating regional security crises, the company directed larger quantities of propane and butane to the local market to ensure adequate supplies for internal consumption. The expert underscored the significance of these two products within Kuwait's oil export portfolio, noting their essential role in numerous manufacturing industries and various everyday applications both domestically and globally.