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Fuel crisis in Kuwait

Steel News - Published on Tue, 31 May 2011

Sources in Kuwait have warned that there are signs of the beginning of a local crisis in the availability of diesel used by large trucks, factories and ships. This has consequently led to the existence of a black market where the product is sold for higher prices compared to the gas stations which are experiencing shortages.

The sources revealed that this crisis erupted more than two weeks ago after the National Oil Company started to reduce the diesel quotas supplied to the two local companies. They consequently decided to limit the share of each truck which is not exceeding KWD 5 to meet at least the minimum demand from consumers.

The sources indicated that consumers who find the new quota inadequate try to get an additional amount with those who enjoy surplus.

Mr Hamza Bakhsh MD of First Fuel Marketing Company said earlier that the company is suffering from a severe shortage in diesel in some plants at the present time. There were a number of stations which ended its stockpiles and thus were forced to close.

He pointed out that there are negotiations currently underway between the two companies and the Kuwait National Petroleum Company to reach appropriate solutions to address the problem of the diesel fuel shortage.

(Sourced from www.yallafinance.com)

Posted By : admin on Tue, 31 May 2011
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