Kuwait's IPG buys jet fuel from KPC in rare move

17/06/2015 16:17 AST

Kuwait-based trading firm Independent Petroleum Group bought a jet fuel cargo for loading in July from state-owned Kuwait Petroleum Corp in a rare move, traders said.

IPG bought 60,000 tonnes of the aviation fuel from KPC for loading over July 17 to 20 at a premium of between $1.70 and $1.75 a barrel over Middle East quotes, the traders said.

This is the first time in several years that IPG has bought jet fuel from KPC, they added. IPG usually trades in gasoil and only occasionally trades in jet fuel which is then used to co-load with gasoil cargoes, one of them said.

It is not clear what IPG was planning to do with this cargo. IPG officials declined to comment on the matter.

IPG has business in the Red Sea, Arabian Gulf, east Mediterranean and East Africa, and plans to expand in the Mediterranean, Indian subcontinent and the Far East, according to the company website.

In the same tender, KPC sold another 60,000-tonne jet fuel cargo for the same loading dates to Shell at a premium of between $1.80 and $1.85 a barrel to Middle East quotes, industry sources said.


Reuters

News

IPG posts KD 2.213 m in first half profit

03/08/2010

Independent Petroleum Group Company (IPG) reported that the board of directors met on Aug 2, 2010 and adopted the financial statements for the half year ending June 30, 2010. For the three months end

Arab Times

Most Viewed Companies

Ticker Price Volume

Valuation

IPG Sector Market
P/E
Price/BookValue
Dividend Yield (%)

Momentum

Relative Strength
  • 1-Month
  • 3-Month
  • 1-Year
Volume Change
  • 10D Avg Vs 90D Avg
Price Vs…
  • 52-w high
  • 50-day moving avg.
  • 200-Day Moving Avg

Top Related Companies

Ticker Price Change
SAUDIARAMCO 26.52 -0.08 (-0.31%)
ADNOCGAS 3.51 0.04 (1.15%)
ADNOCDRILL 6.14 0.01 (0.16%)
BAHRI 31.94 0.00 (0.00%)
PETRORABIGH 12.40 -0.30 (-2.37%)

Recent News

Knowledge Economic City gets funding for Islamic World District project

19/06/2026

Knowledge Economic City has announced that it has secured a SAR150 million ($40 million) shariah-compliant financing facility from Saudi-based Riyad Bank to fund construction work on the first phase

Trade Arabia

e& plans world's first commercial U6GHz network in UAE

19/06/2026

e& UAE today announced it has awarded a contract to a strategic infrastructure partner to roll out the world's first commercial mobile network using Upper 6GHz (U6GHz) 256TRX Giga-MIMO technology. <

Trade Arabia

GWC launches air-to-land logistics corridor

19/06/2026

Gulf Warehousing Company (GWC) has announced that it has for the first time extended its end-to-end supply chain to include a fully operational air-to-land logistics corridor powered by the TIR syste

Gulf Times

Dubai's Amanat acquires 100% of Cambridge Health in Dh105m deal

19/06/2026

DFM-listed Amanat Holdings PJSC has completed the full acquisition of Cambridge Health Group after buying an additional 10.03 per cent stake for Dh105 million.

The deal gives Amanat 100 per

Gulfnews

Saudi Aramco Weighs Global Oil Storage Facilities to Boost Energy Security

19/06/2026

Saudi Arabia laid out a new strategy in Rome to strengthen global supply chains and build a broader partnership model with Europe, seeking to move beyond current geopolitical pressures and deepen eco

Arab News

logo

Financial Information Co.

Saudi Arabia

GCC Markets

Mutual Funds

News

Investment Tools

Sector News

Screeners

Indices & Commodities

Downloads

Copyright ©2001 - 2025, Financial Information Co. All Rights Reserved.

Terms of Services | Privacy Policy | Advertise with us | Contact Us | Sitemap