Check this out. also note that I removed the namespace of the first kml tag and did other tweeks to the document so that it would work as quoted text.
SELECT EXTRACTVALUE (VALUE (d), '/description') the_key
FROM TABLE
(XMLSEQUENCE
(EXTRACT
(XMLTYPE.createxml
('<?xml version="1.0" encoding="UTF-8"?>
<kml>
<Document>
<name>Universiteitsweg, Utrecht, The Netherlands to Molensteyn, 3454 Utrecht, The Netherlands</name>
<Style id="roadStyle">
<LineStyle>
<color>7fcf0064</color>
<width>6</width>
</LineStyle>
</Style>
<Snippet>
</Snippet>
<Placemark>
<name>At the traffic circle, take the 2nd exit onto Oudenrijnseweg</name>
<description>
<![CDATA[go 0.6?#160;km]]>
</description>
<styleUrl>root://styleMaps#default+nicon=0x447+hicon=0x457</styleUrl>
<Point>
<coordinates>5.043430,52.071900,0</coordinates>
</Point>
<LookAt>
<longitude>5.043430</longitude>
<latitude>52.071900</latitude>
<range>100.000000</range>
<tilt>45.000000</tilt>
<heading>103.543640</heading>
</LookAt>
</Placemark>
<Placemark>
<name>At the traffic circle, take the 1st exit onto Naamrijk</name>
<description>
<![CDATA[go 0.5?#160;km]]>
</description>
<styleUrl>root://styleMaps#default+nicon=0x447+hicon=0x457</styleUrl>
<Point>
<coordinates>5.046120,52.076800,0</coordinates>
</Point>
<LookAt>
<longitude>5.046120</longitude>
<latitude>52.076800</latitude>
<range>100.000000</range>
<tilt>45.000000</tilt>
<heading>17.535595</heading>
</LookAt>
</Placemark>
<Placemark>
<name>Arrive at: Molensteyn, 3454 Utrecht, The Netherlands</name>
<address>Molensteyn, 3454 Utrecht, The Netherlands</address>
<styleUrl>root://styleMaps#default+nicon=0x467+hicon=0x477</styleUrl>
<Point>
<coordinates>5.052550,52.075780,0</coordinates>
</Point>
</Placemark>
<Placemark>
<name>Route</name>
<description>
<![CDATA[Distance: 18.6?#160;km (about 19 mins)<br/>Map data ?#169;2008 Tele Atlas ]]>
</description>
<GeometryCollection>
<LineString>
</LineString>
</GeometryCollection>
<styleUrl>#roadStyle</styleUrl>
</Placemark>
</Document>
</kml>'
),
'/kml/Document/Placemark[last()]/description'
)
)
) d
/