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Últimas noticias sobre productos del petróleo
Últimas noticias sobre productos del petróleo.
Kuwait cuts crude output on Hormuz disruption: Update
Kuwait cuts crude output on Hormuz disruption: Update
Updates with force majeure notice London, 7 March (Argus) — Kuwait's state-owned oil firm KPC has started to reduce crude output and refinery runs after oil exports were effectively halted by the war in the Middle East, the company said. Tanker traffic through the strait — the main route for Mideast Gulf crude exports — has almost come to a standstill since the US and Israel began launching air strikes on Iran on 28 February. Tehran has responded by attacking other countries in the region, including targeting oil and gas infrastructure and shipping. Opec member Kuwait, which produced 2.59mn b/d of crude in February according to Argus , is entirely dependent on Hormuz for its exports. A prolonged disruption would wipe out most of this output because of storage limitations. KPC also issued a force majeure notice on its crude and refined products exports, according to a 7 March statement seen by Argus . Such notices protect companies from breach-of-contract penalties when they are unable to deliver to their customers due to events outside of their control. Kuwait exported about 1.9mn b/d of crude and 860,000 b/d of refined products through the strait of Hormuz in 2025, according to Kpler. KPC said the "precautionary" measures were a response to "ongoing aggression" by Iran against Kuwait and "threats against shipping through the strait of Hormuz." KPC said Kuwait's domestic market needs remained fully secured. The company did not provide details on current output but said it was ready to restore production once conditions allow. Kuwait is the second Mideast Gulf country after Iraq to confirm production shutdowns because of the war. Upstream shutdowns are also expected in Saudi Arabia, the UAE, Qatar and Iran should the war continue. Saudi Arabia and the UAE have crude pipelines that can bypass the strait of Hormuz, but these outlets would only partially offset the loss of the waterway. The war is also increasingly threatening the region's oil and gas upstream infrastructure. Saudi Arabia said earlier on Saturday that its air defences intercepted 20 drones launched in five waves toward Saudi state-controlled Aramco's 1mn b/d Shaybah oil field in the Empty Quarter desert. Saudi Arabia's 250,000 b/d offshore Berri field also suffered a "minor impact" following an attack, a source close to the matter said on Saturday. Qatar has already shut down its massive LNG production facilities after being attacked. There appears to be no end in sight to the war, with US President Donald Trump on Saturday vowing to hit Iran "very hard" again and that additional targets were now under consideration. By Aydin Calik, Nader Itayim and Cara Wong Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Kuwait cuts crude output after Hormuz disruption
Kuwait cuts crude output after Hormuz disruption
London, 7 March (Argus) — Kuwait's state-owned oil firm KPC has started to reduce crude output and refinery runs after oil exports were effectively halted by the war in the Middle East, the company said. Tanker traffic through the strait — the main route for Mideast Gulf crude exports — has almost come to a standstill since the US and Israel began launching air strikes on Iran on 28 February. Tehran has responded by attacking other countries in the region, including targeting oil and gas infrastructure and shipping. Opec member Kuwait, which produced 2.59mn b/d of crude in February according to Argus, is entirely dependent on Hormuz for its exports. A prolonged disruption would wipe out most of this output because of storage limitations. Kuwait exported about 1.9mn b/d of crude and 860,000 b/d of refined products through the strait of Hormuz in 2025, according to Kpler. KPC said the "precautionary" measures were a response to "ongoing aggression" by Iran against Kuwait and "threats against shipping through the strait of Hormuz." KPC said Kuwait's domestic market needs remained fully secured. The company did not provide details on current output but said it was ready to restore production once conditions allow. Kuwait is the second Mideast Gulf country after Iraq to confirm production shutdowns because of the war. Upstream shutdowns are also expected in Saudi Arabia, the UAE, Qatar and Iran should the war continue. Saudi Arabia and the UAE have crude pipelines that can bypass the strait of Hormuz, but these outlets would only partially offset the loss of the waterway. The war is also increasingly threatening the region's oil and gas upstream infrastructure. Saudi Arabia said earlier on Saturday that its air defences intercepted 20 drones launched in five waves toward Saudi state-controlled Aramco's 1mn b/d Shaybah oil field in the Empty Quarter desert. Saudi Arabia's 250,000 b/d offshore Berri field also suffered a "minor impact" following an attack, a source close to the matter said on Saturday. Qatar has already shut down its massive LNG production facilities after being attacked. There appears to be no end in sight to the war, with US President Donald Trump on Saturday vowing to hit Iran "very hard" again and that additional targets were now under consideration. By Aydin Calik and Nader Itayim Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Pakistan hikes retail gasoline, diesel prices
Pakistan hikes retail gasoline, diesel prices
Dubai, 7 March (Argus) — Pakistan has raised retail gasoline and diesel prices by Rs55/l, or about 20pc, citing higher global oil prices linked to the war in the Middle East and concerns over potential supply disruptions. The government is increasing gasoline prices to Rs321.17 ($1.16) per litre from Rs266.17/litre, and diesel prices to Rs335.86/litre from Rs280.86/litre, petroleum minister Pervaiz Malik said at a press conference late Friday in Islamabad, according to state news agency APP. The new prices took effect from midnight on Friday local time. "We will now review these prices on a weekly basis," Malik said, adding that the government would reduce prices once global market conditions improve. "There is no doubt we are facing extraordinary circumstances," the minister said, noting that diesel demand is expected to rise during the upcoming crop season and that the fuel is also widely used by public transport serving low-income communities. Global oil prices have surged in the wake of US and Israeli air strikes against Iran and Tehran's subsequent retaliation against US military bases and wider energy infrastructure and shipping in the Middle East over the past week, all of which is causing disruption to oil and gas supply. Qatar's energy minister warned crude prices could reach $150/bl in the next 2-3 weeks. To mitigate potential supply disruptions along key shipping routes, Pakistan has also begun efforts to secure crude from alternative sources. Two vessels operated by state-owned PNSC are currently heading towards the ports of Yanbu in Saudi Arabia and Fujairah in the UAE to support Pakistan's energy needs, the minister said, adding that Saudi Aramco had assured Pakistan that if a larger tanker was arranged it could be loaded at Yanbu and sent towards Pakistan. Pakistan sources at least 60pc of its gasoline requirements from the Mideast Gulf, with the UAE supplying the majority. State-owned refiner PSO typically buys 92R gasoline cargoes from regional refiners including Oman's state-owned OQ, Dubai-based ENOC and PetroChina Dubai. But clean tanker freight rates in the Mideast Gulf have surged since the war began. Cross-Mideast Gulf MR rates had risen to about $1mn–$1.025mn as of 4 March, up from $375,000–$400,000 on 27 February. Before the war, the vessel Torm Damini was chartered to ship 35,000t of gasoline from Fujairah to Pakistan for about $400,000, but shipping brokers say rates on the route have since climbed to around $1.2mn–$1.5mn. Stockpiling Market participants said reports of the impending gasoline and diesel price increase had prompted some advance buying in the domestic market. "There was some stockpiling after reports emerged that the government might raise prices earlier than the usual fortnightly schedule," one Pakistan-based gasoline trader said, adding that some dealers and pump owners held back supplies ahead of the increase: "Some dealers and pump owners hoarded fuel to profit from the new prices." By Rithika Krishna Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
US weighs military powers to restart oil pipeline
US weighs military powers to restart oil pipeline
Washington, 6 March (Argus) — President Donald Trump's administration is considering invoking a 1950 war mobilization law to override legal impediments to restarting a pipeline that would transport oil being produced offshore California. The Trump administration since last year has pushed to restart a network of pipelines that would allow US independent Sable Offshore to start selling crude it is producing from offshore platforms off the coast of southern California. Federal regulators in December asserted to have control over the pipelines, but a state judge last month halted the restart of the pipeline, citing a consent decree that had resolved a state lawsuit over a massive spill from the pipeline in 2015. The administration is now considering an alternative to restarting the shuttered oil pipeline by using the Defense Production Act of 1950. Under a legal opinion the US Department of Justice published on 3 March, the administration asserted the ability to use the Korean War-era law to preempt both state law and the consent decree. "The [law] authorizes the President to regulate private entities in ways that may be inconsistent with state law" the legal opinion said. US presidents have used the Defense Production Act to fast-track the production of military equipment, critical minerals and even medical devices needed to address Covid-19. But no president has previously invoked the law to override state laws limiting pipeline operations. According to the memo, Sable Offshore asked US energy secretary Chris Wright to invoke the law to require Sable to operate the pipeline system as a way to preempt California state law. Sable Offshore did not respond to a request for comment. Trump administration officials have already indicated they are looking for ways to address spiking oil prices sparked by US-Israeli strikes on Iran. The administration has a "whole flow chart of tools" to bring down prices, White House national economic council director Kevin Hassett said on Friday. Invoking the Defense Production Act to restart the pipeline would likely trigger a lawsuit from California, which says the pipeline needs to meet stringent pressure testing requirements before it can restart. By Chris Knight Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
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