Kuwait Petroleum Corp is offering crude for July delivery via a tender, a document showed on Friday, after lifting force majeure and announcing plans to ramp up output. The producer is offering Kuwait Export Crude with each cargo at 2 million barrels, according to the document. They will be sold at a differential to the average Oman and Dubai price quotes on a delivered ex-ship basis, Reuters quoted it as saying. The tender will close on Tuesday with bids remaining valid until Wednesday. KPC said on Thursday that all force majeure notices issued during the US-Israeli war on Iran have been lifted with immediate effect, the government communication center reported on X. The country's oil production would increase to 2 million barrels per day (bpd) within a week, coinciding with the opening of the Strait of Hormuz and resumption of commercial shipping, it added. Kuwait exported about 1.2 million bpd of crude on average in the first two months of this year, which plummeted to near zero in April, data from shiptracker Kpler showed. Last week, KPC sold 4 million barrels of crude for June delivery via a tender. The cargoes were loaded via STS at Oman's Sohar area onto Very Large Crude Carriers Sea Ruby and Maran Atalanta, which are heading to China, Kpler data showed.
