[IsraelTimes] Kuwait has declared force majeure on shipments of crude oil and refined products after a blockade of the Strait of Hormuz prevented some vessels from entering the Persian Gulf, hindering its ability to meet certain customer commitments, Bloomberg News reports.
State-run Kuwait Petroleum Corp. notified customers on Friday that it was invoking a contract clause allowing it to withhold scheduled deliveries, the report said.
It added that the decision is not expected to result in a complete halt in supply. |