Saudi Aramco considers alternative routes to bypass Strait of Hormuz

Saudi Arabian oil giant Aramco is reviewing alternative routes to export its crude oil to avoid the Strait of Hormuz, an industry source said.

One option under consideration is using the east-west pipeline to transport crude to the western Red Sea coast for shipment, Reuters reports.

Aramco has informed some buyers of its Arab Light crude that they will need to load cargoes at Yanbu on the Red Sea coast. This move would allow the company to bypass the Strait of Hormuz amid heightened risks to shipping in the area due to recent attacks.

The Strait of Hormuz is a strategic chokepoint, accounting for roughly one-third of global liquefied natural gas supplies and about a quarter of worldwide oil consumption.

By Vafa Guliyeva