Al-Qabas: Gulf states store oil for emergency

The Kuwaiti daily al-Qabas issued on Friday said that certain Gulf states including Kuwait have stored large oil reserves for emergency use outside the Gulf region.

The paper indicated that Kuwait has a share of oil reservoirs stored in wells on the Eastern Coast of the USA, and in rented giant oil tankers and in huge complexes in Africa, and in Southern East Asia in general, and in Singapore in particular.

The paper said that Kuwait's share of this stored reserves is 15 million barrels out of 70 million barrels, including one million oil byproducts barrels in order to meet the requirements of the Kuwaiti oil distribution stations in Europe which carries the Mark "Kuyo 8" brand.

The paper indicated that the Kuwaiti oil establishment in London refused to comment on these information, but a source close to it did not rule out that.

The paper indicated that the a company registered in one of the Caribbean islands provided giant tankers to store some of the Kuwaiti reserves of refined items, and that loading capacity of these tanks ranges between 90,000 to 125,000 of oil byproducts.