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UAE to increase crude exports through Fujairah pipeline
- United Arab Emirates: Saturday, April 27 - 2013 at 05:12
Abu Dhabi National Oil Co (Adnoc) has said the country is accelerating oil exports via the new Fujairah pipeline that bypasses the Strait of Hormuz, Dow Jones has reported. "We are planning to increase exports from Fujairah pipeline gradually on a monthly basis," the marketing and refining director at Adnoc, Sultan Al Muhairi, told the news service. "We could be reaching up to six million barrels this month." The $4bn 400km link will enable Abu Dhabi to export as much as 75% of its crude at periodic intervals from Fujairah, where tankers can pick up the oil instead of sailing into the Gulf via the Strait of Hormuz.
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