Saturday 9 June 2012

Emirates' new pipeline could avoid oil chokepoint

By night, the lights of dozens of ships anchored off this eastern Emirati port create the mirage of a far-off city at sea.

The crowded anchorage reflects Fujairah's rise as one of the world's busiest maritime refueling stations. Soon it will also become a vital new exit route for Arabian crude oil destined for world markets.

The United Arab Emirates is nearing completion of a pipeline through the mountainous sheikhdom that will allow it to reroute the bulk of its oil exports around the Strait of Hormuz at the mouth of the gulf, the path for a fifth of the world's oil supply.

No comments:

Post a Comment