Kuwait Oil Chief Seeks Pipeline Alternatives to Skirt Hormuz

Kuwait Oil Chief Seeks Pipeline Alternatives to Skirt Hormuz

(Bloomberg) — Kuwait is seeking pipeline alternatives to export its crude oil as the near-closure of the Strait of Hormuz starves the market of vital barrels and Persian Gulf producers of the cash to run their economies.

Kuwait Oil Chief Seeks Pipeline Alternatives to Skirt Hormuz - Energy News Beat

Kuwait is actively pursuing pipeline routes to bypass the Strait of Hormuz as ongoing tensions have effectively choked off the Persian Gulf’s primary oil export artery. Sheik Nawaf Al-Sabah, Chief Executive Officer of Kuwait Petroleum Corp. (KPC), the state-owned oil producer, disclosed the initiative during a conference in Washington on Tuesday. According to Sheik Nawaf, KPC is in discussions with neighboring Saudi Arabia and the United Arab Em…