Friday, 08 May 2009
Bloomberg reported that Abu Dhabi's state run International Petroleum Investment Company will complete building an oil pipeline to Fujairah on the Gulf of Oman by 2011, allowing shipments to bypass the Strait of Hormuz.Mr Dieter Blauberg project director of IPIC said that the 1.5 million barrel a day pipeline will provide crude to load a first tanker in January 2011 to carry oil from Fujairah to Abu Dhabi's global customers.Sending fuel overland to Fujairah, a transit point with direct access to the Arabian Sea, will allow Abu Dhabi to avoid sending tankers through Hormuz.
(Sourced from Bloomberg)
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