KPC 100KBD India Deal

Kuwait Petroleum Corporation (KPC) has renewed its crude supply contract with India’s Bharat Petroleum in a deal that state news agency KUNA says is worth up to $3.7bn per year.

This implies volumes of around 100,000 b/d given average first quarter prices of $104/B for Kuwait export blend crude. KPC says that it intends to boost this number by 50,000 b/d in 2015. South Korea has been the largest customer for Kuwaiti crude over the past four years, taking...