South Korea secures 273 million barrels of oil via alternative routes, bypassing Hormuz

South Korea has secured supplies of 273 million barrels of crude oil and 2.1 million tons of naphtha from Middle Eastern countries and Kazakhstan through the end of the year, according to the presidential chief of staff Kang Hoon-sik.

He said the contracted oil volume is equivalent to more than three months of domestic consumption under normal conditions, while naphtha supplies cover about one month of demand, Caliber.Az reports, citing Korean media.

Kang noted that the deliveries will be carried out via alternative routes not affected by restrictions in the Strait of Hormuz, helping reduce risks to the country’s energy security.

During visits to Oman, Saudi Arabia, Qatar, and Kazakhstan, the South Korean delegation also agreed to expand cooperation in energy and logistics, including the development of additional oil storage facilities outside vulnerable shipping routes.

Separately, Saudi Arabia has pledged to supply around 200 million barrels of oil, while Qatar confirmed it will honour LNG contracts despite previously declared force majeure conditions.

By Bakhtiyar Abbasov