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Kuwait eyes regional pipeline tie-ups to bypass Hormuz
Kuwait eyes regional pipeline tie-ups to bypass Hormuz
Dubai, 10 June (Argus) — Kuwait's state-owned KPC is exploring potential tie-ups with fellow Gulf Co-operation Council (GCC) countries Saudi Arabia and the UAE that could help move its crude and oil products in the event of any future disruptions to flows through the strait of Hormuz. Kuwait is totally dependent on the strait to export its crude and oil products, while Saudi Arabia and the UAE have pipelines that allow them to divert a share of their oil to ports outside the strait. That has helped them better navigate the more than three-month closure of Hormuz triggered by the start of the US-Iran war on 28 February. "We are in discussions with our brothers in Saudi Arabia and in the Emirates to look at how to expand the pipeline system that they have to accommodate Kuwaiti barrels coming up," KPC chief executive Sheikh Nawaf al-Sabah told the Atlantic Council Global Energy Forum. Saudi Arabia's 7mn b/d capacity East-West pipeline can carry crude from the Abqaiq oil processing complex in the Eastern Province to the Yanbu terminal on the Red Sea for export. The UAE's 1.7mn b/d Adcop pipeline carries crude from Habshan in Abu Dhabi to Fujairah, outside the strait of Hormuz. Sheikh Nawaf said the GCC typically has a mechanism that if one member cannot export oil for whatever reason, another with additional capacity could export on their behalf "and tally it up afterwards." But since "nobody has that capacity" given the situation in the strait, "instead, we are working with our brothers to look at pipeline capacity that can grow out," he said. He did not specify which projects Kuwait was studying with its neighbors. The KPC chief did caution, however, that an alternative export route would not totally insulate Kuwait, or any other country, from risk. Pipelines "are only as safe as the export facility at the end of it," Sheikh Nawaf said. "And you've seen how Iran has targeted both the Saudi and Emirati pipelines, and how those [attacks] have been effective, to a certain degree." Fujairah was targeted on five separate occasions between late February and early June, according to Argus tracking, Saudi Arabia's Yanbu port was targeted once, and the East-West pipeline was targeted once , temporarily reducing throughput capacity by around 700,000 b/d. "A long pipeline needs compression. So, if you hit one node of that compression, you've got to rebuild that," said Sheikh Nawaf. "The easiest thing to rebuild or replace is the pipeline itself. But if you hit the compression facility, that takes more time." "And worse yet, is if you hit the export facility, because then, the pipeline is essentially useless," he said. "And we would have to work together with our partners [to recover]." Swift-ish recovery The disruption of oil flows through the strait of Hormuz forced Kuwait to scale back its crude production capacity to about 25pc of pre-conflict levels. "We took our production levels down at the beginning of the war, carefully and methodically, to what is only required for local consumption in Kuwait, because we could not export anything," Sheikh Nawaf said. Latest Argus estimates put Kuwaiti crude output at 580,000 b/d in May, compared with 2.59mn b/d in February. Many weeks of on-and-off diplomacy between Iran and the US has not led to clarity on when marine traffic could meaningfully recover, but Sheikh Nawaf said when it does Kuwait should be able to resume the majority of its production within less than a month. "We could get back to 80pc of our shut-in production [back] in less than a month, probably three weeks, because we have resilient reservoirs," he said. With around 2mn b/d of crude output shut-in, this would imply a return of 1.6mn b/d within weeks, lifting output to around 2.1mn b/d. Sheikh Nawaf suggested the shut-in of some reservoirs may have "benefited" them because it "allowed them to settle and recharge, essentially, the underground pressure." But he said the final 20pc "is always the hardest," which could take another "three to four months" to recover. By Nader Itayim Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
BP confirms shift to two‑segment structure
BP confirms shift to two‑segment structure
London, 9 June (Argus) — BP confirmed today that it will reorganise its business into two segments — Upstream and Downstream — from 1 July. The Upstream segment will combine BP's oil and gas regions, covering exploration, development and production. It will also include upstream joint ventures, alongside the company's renewable natural gas and carbon capture and storage businesses. The Downstream segment will include refining, terminals and pipelines, as well as BP's mobility and convenience retail operations. It will also cover biofuels, aviation and hydrogen, and include the company's remaining 35pc stake in its Castrol lubricants business. BP's Supply, Trading & Shipping function will operate across both segments, supporting "delivery and value creation across the integrated system", the company said. Its renewable power businesses — including solar and offshore wind, where BP is pursuing an asset-light model — will sit within the Technology function. The reorganisation was trailed shortly after new chief executive Meg O'Neill joined the company in April . Focusing BP around two distinct segments "is an important step in accelerating delivery" and will "reduce complexity and strengthen execution", O'Neill said today. The move brings BP's structure closer to that of US peers Chevron and ExxonMobil. O'Neill previously spent more than two decades at ExxonMobil. BP is currently organised into three main segments — Gas & Low Carbon Energy, Oil Production & Operations, and Customers & Products — alongside an Other Businesses and Corporate segment. The company said the new structure will clarify accountabilities and enable "faster, more effective" decision-making. O'Neill has previously said that moving BP's refining into a dedicated downstream segment, from the largely upstream Production & Operations business, would allow leadership to better "maximise value from the front of the refinery all the way to the end-customer". BP said Gordon Birrell, currently executive vice-president of Production & Operations, will lead the new Upstream segment. Customers & Products head Richard Harding will serve as interim head of Downstream until a permanent executive vice-president is appointed. By Jon Mainwaring Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
India’s E85 debut spurs calls for flex-fuel vehicles
India’s E85 debut spurs calls for flex-fuel vehicles
Mumbai, 9 June (Argus) — India's launch of E85 gasoline has prompted calls from industry participants for faster rollout of flex-fuel vehicles (FFVs) and expanded refuelling infrastructure to support higher ethanol use. Oil minister Hardeep Singh Puri launched E85 at an Indian Oil retail outlet in New Delhi on 5 June. It can be used in FFVs compatible with blends from E20 to E100. The launch follows Indian automakers introducing their first FFVs for higher ethanol blends last week. Maruti Suzuki unveiled India's first flex-fuel car on 4 June , while Hero MotoCorp launched its Splendor+ and HF Deluxe motorbikes on 3 June, the first bikes in the country able to run on blends of up to E85. Indian Oil's general manager for alternative energy, Bibhudatta Rout, said the country lacks sufficient FFVs but said the E85 launch would support future expansion of high-ethanol mobility. The government plans to offer E85 at 48 public-sector fuel stations, expanding to 500 outlets by the end of this year and 5,000 by 2027. E85 is priced at a 20 rupees/litre discount to E20. Market participants expect faster FFV rollout. Fuelbrains director Sachin Malusare said "faster adoption will be the key to ethanol consumption as well as energy independence." Industry participants have also highlighted infrastructure constraints. Shree Renuka Sugars director Atul Chaturvedi said E85 should initially be rolled out near ethanol-producing centres and stressed the need for sufficient dispensing capacity. India's ethanol output is concentrated in sugar-producing states, notably Uttar Pradesh and Maharashtra. India has accelerated its fuel blending programme in recent months and is progressing towards sustainable aviation fuel (SAF) blending. The government said vehicles using E85 could reduce lifecycle greenhouse gas emissions by about 61pc compared with conventional gasoline vehicles. Since 2014-15, the ethanol blending programme has saved 1.84 trillion rupees ($18.4bn) in foreign exchange. In April, India proposed allowing higher ethanol blends up to E85 and E100 through changes to vehicle rules, alongside biodiesel blends of up to 100pc (B100). New fuel standards introduced in May cover blends including E22, E25, E27 and E30. Conventional vehicles remain incompatible with higher blends such as E85, risking engine damage. India's ethanol production capacity exceeds current E20 blending requirements and could support higher mandates. But supply remains tied to monsoon conditions and agricultural output, said RNK Commodities consultant Nandlal Talware, adding that sustained feedstock availability for at least the next five years will be key to scaling E85 and FFV adoption. By Nikhil Sharma Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
UAE's Fujairah out of VLSFO bunker supplies
UAE's Fujairah out of VLSFO bunker supplies
Dubai, 9 June (Argus) — An acute supply crunch resulting from the US-Iran war has left the UAE port of Fujairah, the world's fourth-largest bunkering port, depleted of very-low sulphur fuel oil (VLSFO). Most major bunker suppliers in Fujairah have completely pulled out of the market, reporting zero availabilities for the rest of the first half of June. The US-Israel war with Iran has severely disrupted local VLSFO production by cutting imports of feedstock materials and has severed supply from Kuwait's 615,000 b/d al-Zour refinery, leaving remaining bunkering volumes barely able to meet even very slim demand. "Nothing is moving here and will stay the same until we get a cargo from somewhere," a major bunker supplier said. Argus -assessed spot premiums for delivered VLSFO rose to all-time highs of $500-700/t against front-month Singapore VLSFO cargo values in the first week of June. In the neighbouring port of Khor Fakkan, where some sellers still have scarce supplies, a supplier sold a cargo on 8 June at a $450/t premium to the price basis. Under normal market conditions, bunker premiums typically hover around $10–20/t. But market participants anticipate some near-term relief with an expected arrival of low-sulphur straight run residuals (LSSR) in mid-June. A 100,000t cargo of LSSR from Nigeria's Dangote refinery, on board the Indonesia Prosperity , is scheduled to arrive in Fujairah on 16 June, according to global trade analytics firm Vortexa. The vessels charterer is trading firm Vitol, who owns a 100,000 b/d refinery in Fujairah. "It will take few days for LSSR to be blended into marine fuel grade VLSFO," one bunker trader said. "Vitol has its own bunkering arm in Fujairah which will have a priority for access over other suppliers." The volume of VLSFO sales in deals collected for assessment by Argus fell to a record low of 1,085 t/d in May, down from 1,760 t/d of sales in April. Argus compiles daily data on deals from Fujairah suppliers, traders and buyers, capturing up to a quarter of the market, offering a snapshot of broader market trends. By Elshan Aliyev Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
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