UAE Will Double Oil Export Capacity Bypassing Hormuz by 2027
The United Arab Emirates will double its capacity to export crude oil bypassing the Strait of Hormuz by 2027, as it seeks to reduce reliance on the shipping chokepoint whose closure in the Iran war has upended global markets.
Abu Dhabi National Oil Co. is building a pipeline that runs to the port of Fujairah on the Gulf of Oman, according to a statement from the emirate’s media office posted on X. The government-owned oil company already operates a 1.5 million barrel-a-day pipeline from its desert oil fields to the port on the eastern coast, which has proven to be a lifeline for the country during the war.