Abu Dhabi Thursday started exporting crude oil, Murban blend, through Habshan-Fujairah pipeline to bypass the Strait of Hormuz.
The Habshan-Fujairah pipeline, owned by the International Petroleum Investment Company (IPIC), an investment arm of the government of Abu Dhabi, to secure flow of crude oil from the Emirate of Abu Dhabi to the world, Dr. Numan Ashour, A UAE-based economist, told Gulf News.
Ashour added: “Construction works had started in the project in 2008 and it aimed to avoid any threats to shut the Strait of Hormuz where most the GCC crude oil is passing through.”
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