News developments
Kuwait: KPC declares force majeure
Times Kuwait, 7 March 2026: Kuwait Petroleum Corporation (KPC) has declared force majeure and begun reducing crude‑oil output due to severe disruption of shipping through the Strait of Hormuz.
KPC has initiated precautionary production cuts after explicit threats against vessels transiting the Strait of Hormuz and a near‑absence of available tankers in the Arabian Gulf. The company has explained in a trade notice that safe maritime passage is compromised, prompting the declaration of force majeure.
The Strait of Hormuz handles roughly 20% of global oil and LNG supplies, and ongoing disruptions have already led to output cuts in Iraq and Qatar, with analysts warning that the UAE and Saudi Arabia may also face reductions if storage capacity tightens. KPC has not specified the exact scale of its reduction but noted that Kuwait had produced about 2.6 million barrels per day in February and that production levels will be reviewed as conditions evolve.
The corporation remains prepared to restore output once maritime conditions allow, highlighting its significant role as a major exporter of naphtha to Asia and jet fuel to north‑west Europe. Complementary reports indicate that the force majeure notice cites explicit threats and the absence of shipping capacity as the primary legal grounds for the declaration.
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