Bloomberg News

Kuwait Pumped 3 Million Barrels a Day in February, KPC Says

March 12, 2012

Kuwait pumped about 3 million barrels of oil a day last month, Farouk Al-Zanki, the chief executive of state-run Kuwait Petroleum Corp. said.

KPC has a contingency plan if the Strait of Hormuz at the entrance to the Persian Gulf becomes closed, he said today in Kuwait, without providing any details. Demand for the company’s crude oil “still looks good.”

Brent crude has gained 16 percent this year in London to about $125 a barrel mainly on concern conflict with Iran could choke off oil exports from the gulf, limiting supply.

To contact the reporter on this story: Wael Mahdi in Kuwait at wmahdi@bloomberg.net

To contact the editor responsible for this story: Stephen Voss at sev@bloomberg.net


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