KUWAIT CITY — Kuwait Petroleum Corporation announced a precautionary reduction in crude oil production and refining throughput amid continued tensions and threats from Iran affecting regional maritime traffic.
In a statement to the Kuwait News Agency, the national oil company said the measure was taken as part of its risk management and business continuity strategy in light of the current security situation.
The company said the decision follows Iran’s continued threat to the safe passage of ships through the Strait of Hormuz, a key route for global energy transport.
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KPC stressed that the reductions are strictly precautionary and will be reviewed as the situation evolves.
The company added that it remains ready to restore production levels when the situation allows, and stressed that the needs of the domestic market remain fully secured under the existing supply plan.
KPC also reaffirmed its commitment to protect its employees, protect Kuwait’s national energy assets, and support the stability of global energy markets.
