KUWAIT

Kuwait Nears Sale Of European Refinery, Targets Asian Downstream

There is growing speculation that state firm Kuwait Petroleum Corporation (KPC) is nearing a deal with Swiss trader Gunvor for sale of the 88,000 b/d Rotterdam refinery. KPC operates the plant through its Kuwait Petroleum International (KPI) overseas refining and marketing subsidiary.

For KPI the sale would be a big step in trimming its European operations, reducing its emphasis on refining as it expands in retail....