United Arab Emirates

New pipeline avoids Strait of Hormuz


The United Arab Emirates started loading crude oil onto ships from its new pipeline which avoids the Strait of Hormuz yesterday.

The pipeline stretches 231 miles from the oilfields of the western desert to the Port of Fujairah which is on the eastern coast of the UAE and directly into the Gulf of Oman. This will avoid the narrow Strait of Hormuz which the Iranian government has been threatening to close since the European Union imposed an oil trade embargo on Iran starting on 1st July.

The new pipeline will pump around 1.5 million barrels per day which is around 75% of the 2.4 million barrels pumped each day by the country.

Tagged with:

More detailed briefing on the politics and risk of doing business in this country is available to clients and subscribers. If you would like to know more then please contact enquiries@tradebridgeconsultants.com