UAE Will Double Oil Export Capacity Bypassing Hormuz by 2027
Bloomberg.com • • world
Key Points:
- The United Arab Emirates plans to double its crude oil export capacity bypassing the Strait of Hormuz by next year to reduce reliance on this strategic shipping chokepoint.
- Abu Dhabi National Oil Co. is speeding up the construction of a pipeline to the port of Fujairah on the Gulf of Oman.
- The company currently operates a 1.5 million barrel-per-day pipeline to Fujairah, which has been crucial during the ongoing Middle East conflict.