US EditionKorea secures 50 mil. barrels of alternative oil supplies for April: officials
5 Articles
5 Articles
Amid the ongoing crisis in the Middle East, including the blockade of the Strait of Hormuz, the government announced that it has secured approximately 50 million barrels of crude oil for this month. This represents 63% of normal usage, and the government stated that it is also securing a substantial amount for next month. Furthermore, it projected that the energy supply crisis is highly likely to persist even if the war ends. Yang Ki-wook, Direc…
(Seoul = Yonhap News) Reporter Shin Chang-yong = As the government and the oil refining industry launch an all-out effort to secure alternative crude oil in response to Iran's blockade of the Strait of Hormuz, the alternative secured in April...
South Korea secures 50 million barrels as oil shock forces demand cuts
South Korea has reportedly secured around 50 million barrels of alternative crude oil for April as it scrambles to offset supply disruptions following Iran’s blockade of the Strait of Hormuz, a senior industry ministry official said on Thursday. The update comes a day after the government raised its crude resource security alert to “Alert” level. […]
It has been revealed that the government secured approximately 50 million barrels of alternative crude oil as of April in response to the possibility of a blockade of the Strait of Hormuz. A significant portion of the volume for May has also been secured. During a briefing, the Ministry of Trade, Industry and Energy stated, “The alternative volume for April is approximately
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