How the UAE Has Kept Its Oil Flowing Through Hormuz
10 Articles
10 Articles
With major shipping routes blocked due to the aftermath of the Middle East war, oil-producing countries such as the United Arab Emirates are directly purchasing oil tankers and placing orders for new vessels. As a measure to prevent disruptions in crude oil exports and impacts on production schedules, this is presenting new business opportunities for the domestic shipbuilding and shipping industries, including securing orders for high-value-adde…
How the UAE Has Kept Its Oil Flowing Through Hormuz
The United Arab Emirates has managed to boost its oil exports to pre-crisis levels as early as June, as it has kept pushing crude through the Strait of Hormuz and outside it. The UAE, which left OPEC on May 1, has found workarounds to the blockage at the Strait of Hormuz. It has been shuttling crude through the chokepoint to load it on larger vessels outside the Strait, maximizing the use of its onshore pipeline to ship crude from the west to …
Financial Post
The Hindu Business LineUAE Defies Hormuz Risks to Keep Crude Flowing to Global Market
The United Arab Emirates has moved more oil through the Strait of Hormuz than any other producer over the past two months, providing a much-needed buffer for global markets reeling from a historic energy crisis.
The closure of the Strait of Hormuz has long been one of the biggest risks to the global economy. Yet after five months of alternating closures, partial reopenings, and closures, the global economy remains surprisingly resilient. This is confirmed by strong second-quarter GDP growth data. Likewise...
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