Kuwait may expand oil storage overseas after Gulf conflict in Oil & Companies News 05/06/2026 Kuwait is exploring options to increase its oil storage capacity in foreign countries following disruptions to shipments through the Strait of Hormuz caused by conflict in the Persian Gulf. Sheikh Khaled Al Sabah, managing director of international marketing at Kuwait Petroleum Corp., said the strait remains unsafe for energy shipments. He made the remarks at the S&P Global Energy MPGC 2026 conference in London. The country is in discussions with neighboring states about possible pipeline alternatives, Al Sabah said. Kuwait currently relies entirely on tanker shipments through the Strait of Hormuz for its energy exports. In recent years, Kuwait has established agreements to store small quantities of oil in South Korea and Japan. The US and Israeli military campaign against Iran, which started in late February, has disrupted global energy markets. About one-fifth of daily oil and gas supplies from the Gulf region have been affected. Oil prices have risen more than 35% since the conflict began. Source: Investing.com 2026-06-05 hellenicshippingnews... tweet Share