Saudi Arabia aims to raise the capacity of its east-west pipeline by 40% in two years so more of its oil exports can avoid passing through the Strait of Hormuz, the energy minister said on Thursday.HT: Oilprice
Khalid al-Falih also told Reuters that importers should, as a first immediate step, secure shipments through the strategic waterway at the mouth of Gulf, after attacks on oil tankers in the area and the seizure of a British-flagged ship by Iran.
Falih said the international community should take swift action to protect oil supplies and secure the Strait, through which about a fifth of the world’s oil passes.
Oil importers “have to do what they have to do to protect their own energy shipments because Saudi Arabia cannot take that on its own,” he said in an interview during a visit to India.
The United States, which has imposed economic sanctions on Iran to halt its exports of oil, is trying to rally support for a global coalition to secure Gulf waters. Britain has called for a European-led naval mission to protect shipping.
“India also needs to do its part in securing free navigation of sea links transporting energy to the rest of the world,” Falih said after meeting Indian Oil Minister Dharmendra Pradhan.
India has deployed two warships in the Strait....MORE
If interested see also: "Straits of Hormuz? Time To Dust Off The Trans-Arabia Canal Project"
