Kuwait Petroleum Corporation (KPC) and Turkish Petroleum Refineries Corp. (Tupras) signed a deal to provide the latter with Kuwaiti crude oil, KPC announced in statement on Thursday.
This strategic deal was the fruit of tremendous efforts made by KPC to seize a marketing share in the Mediterranean Sea zone, amidst fierce composition with oil exporting countries, KPC Managing Director of International Marketing Nabil Bourisli said in the statement.
KPC's international marketing team was able, in a record time, to expand in European markets, it noted. Last Monday, a KPC delegation visited Tupras, Turkey's leading industrial company and a main consumer of oil in European markets, to broker the deal. The deal will open up promising opportunities with European oil companies, the statement pointed out.