Scorpio Group secures Kuwait contract for five used tankers
Monaco-based Scorpio Group will sell Kuwait five used petroleum product tankers as the Gulf state seeks to expand its exports of refined products.
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what happened
Zawya reports that Monaco-based Scorpio Group has secured a contract to sell five used petroleum product tankers to Kuwait. The purchase forms part of the Gulf state’s plan to increase petroleum products exports.
The Central Agency for Public Tenders, or CAPT, approved the vessels’ acquisition by state-owned Kuwait Oil Tanker Company, according to Al-Rai newspaper. Sources at KOTC said CAPT’s board endorsed the company’s request but instructed it to obtain prior approval from Kuwait Petroleum Corporation, which oversees Kuwait’s hydrocarbon sector.
why it matters
The agreement points to Kuwait expanding maritime capacity linked to petroleum products exports. The transaction still requires prior approval from KPC, leaving an additional authorization step before the purchase is completed.
instruments
sources
- Scorpio group wins Kuwait tanker deal — Zawya, 12 October 2026 at 09:25 UTC
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