The United Arab Emirates is considering building a third oil pipeline from its western coast to Fujairah to bypass the Strait of Hormuz, according to a...
The United Arab Emirates is considering building a third oil pipeline from its western coast to Fujairah to bypass the Strait of Hormuz, according to a report, but Abu Dhabi's state oil company ADNOC denied the report as 'purely speculative'.
A Fujairah route would let Gulf oil reach the open sea without passing through the strait, the chokepoint at the centre of the current Gulf tensions.
Why it matters: even a denied pipeline plan shows how seriously Gulf producers are taking the risk to Hormuz, the waterway that carries a large share of the world's seaborne oil.
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