The Ministry of Energy of Saudi Arabia has unveiled plans to raise the capacity of its east-west oil pipeline by 40% within the next two years, to reduce risks related to oil exports through the Strait of Hormuz (between the Persian Gulf and the Gulf of Oman). Saudi Arabia aims to secure shipments after attacks on oil tankers in the Strait, which concentrates about 20% of global oil trade.
Most of Saudi Arabia's crude oil export transits through the Strait but part of oil exports are delivered through the Red Sea thanks to the 1,200 km-long, 5 mb/d Petroline oil pipeline between producing fields in the east of the country and Yanbu. The Energy Ministry aims to maximise exports through this east-west pipeline, raising shipments to 7 mb/d. Other regional oil producers such as Kuwait, Iraq, the United Arab Emirates and Iran also depend on the Strait of Hormuz routes and are reviewing alternatives. Iraq, for example, reportedly plans to export more oil through the Ceyhan port in Turkey or to build new oil pipelines to Syria, Lebanon or Saudi Arabia.