Kuwait has outlined plans to more than double its tanker fleet by 2040.
Kuwait Petroleum Corp CEO Nizar al-Adsani, speaking at the Middle East Petroleum and Gas conference in Abu Dhabi yesterday, said the aim was to grow subsidiary Kuwait Oil Tanker Co’s (KOTC) fleet to 60 ships from its current total of 28. Most of the expansion will focus on product carriers, Adsani said.
KOTC currently operates 12 crude tankers, four LPG carriers, 10 product carriers and two bunker ships.
Adsani said Kuwait had laid out plans to grow crude oil production to 4.75m barrels per day by 2040, up from the current 3.2m barrels.