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14.10.26 - 16:06
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Saudi Arabia Planning To Bypass Hormuz With Massive Expansion Of Oil Pipeline (ZeroHedge)
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Saudi Arabia Planning To Bypass Hormuz With Massive Expansion Of Oil Pipeline
Saudi Arabia plans to lift the East-West pipeline's capacity to 10 million barrels per day within two to three years, Energy Minister Prince Abdulaziz bin Salman said at the WPC Energy Congress in Riyadh, as the kingdom works to keep its crude moving around a closed Strait of Hormuz.
The line has become Riyadh's main export route. Saudi Arabia has used it to reroute around 4 million barrels per day to the Red Sea port of Yanbu, Zawya reported. Drone attacks that Saudi Arabia blamed on Iraqi militias forced the kingdom to shut the pipeline on September 11.
Flows were back to 5.8 million bpd by October 6, the minister said, still 1.2 million short of the line's current 7 million maximum. ZeroHedge earlier tracked the pipeline hitting a record 7 million bpd.
As OilPrice.com notes further, the 740-mile-long pipeline, also known as Petroline, has a maximum capacity of 7 million bpd at present.
Despite the ongoing confl...
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14.10.26 - 13:01
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Huthi-Angriffe auf Saudi-Arabien: Gefahr für den Welthandel (RND)
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Nach der Blockade der Straße von Hormus droht der nächste Schock für den Welthandel. Die vom Iran unterstützten Huthis bedrohen eine der wichtigsten Schifffahrtsrouten der Welt und greifen Saudi-Arabien an. Für Kronprinz Mohammed bin Salman steht viel auf dem Spiel....
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