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A1C KYLE R. FIDEL, USAF
"Today, it is nearly 50% finished, and we are speeding up its delivery to 2027," the CEO of ADNOC stated. The new pipeline will enable ADNOC to double its export capability via the port of Fujairah, situated in the Gulf of Oman, just past the Strait of Hormuz. The UAE hastened the initiative because of the conflict between the US and Israel with Iran and the pipeline is anticipated to be functional by 2027.
Since the onset of the military conflict, Iran has successfully obstructed passage through the Strait of Hormuz, where nearly one-fifth of global oil and liquefied natural gas transits. According to Reuters on May 15, the UAE is utilizing the Habshan-Fujairah pipeline, which holds a capacity of 1.8 million barrels daily.
Al Jaber states that the energy supply interruptions due to the blockade of the Strait of Hormuz have been the worst ever recorded, resulting in over 1 billion barrels of oil being lost. The head of ADNOC indicated that every week the strait is closed, almost 100 million barrels are lost to the worldwide market.
Al Jaber pointed out that even if the conflict concludes, it would require at least four months to boost supply volumes to 80% of their usual levels. He anticipated that complete normalization will not happen until the first or second quarter of 2027.
source: reuters.com
Since the onset of the military conflict, Iran has successfully obstructed passage through the Strait of Hormuz, where nearly one-fifth of global oil and liquefied natural gas transits. According to Reuters on May 15, the UAE is utilizing the Habshan-Fujairah pipeline, which holds a capacity of 1.8 million barrels daily.
Al Jaber states that the energy supply interruptions due to the blockade of the Strait of Hormuz have been the worst ever recorded, resulting in over 1 billion barrels of oil being lost. The head of ADNOC indicated that every week the strait is closed, almost 100 million barrels are lost to the worldwide market.
Al Jaber pointed out that even if the conflict concludes, it would require at least four months to boost supply volumes to 80% of their usual levels. He anticipated that complete normalization will not happen until the first or second quarter of 2027.
source: reuters.com
