Nov. 26 (Bloomberg) -- Kuwait isn't considering rerouting its oil tankers to the Cape of Good Hope because of piracy in the Gulf of Aden, state news agency KUNA reported, citing Kuwait Petroleum Corp. Chief Executive Officer Saad al-Shuwaib.

Eighty percent of Kuwaiti tankers go to Asia, bypassing the Gulf of Aden, al-Shuwaib said, according to KUNA. The remaining vessels leaving the country are rented and non-Kuwaiti, or are Kuwaiti ships that sail under international military protection, the news agency said, citing al-Shuwaib.

Somali pirates hijacked an oil-laden tanker belonging to Saudi Arabia's Vela International Ltd. on Nov. 15. The ship was carrying 2 million barrels of crude valued at about $110 million. The attackers boarded the ship about 420 nautical miles (778 kilometers) off Somalia, taking 25 crew members hostage.

Kuwait is the fourth-largest oil producer in the Organization of Petroleum Exporting Countries, which supplies more than 40 percent of the world's crude.

To contact the reporter on this story: Fiona MacDonald in Kuwait at FmacDonald4@bloomberg.net

Last Updated: November 26, 2008 09:08 EST