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Iran bypasses Strait of Hormuz to export crude oil

TEHRAN, Iran (AP) – Iran on Thursday began exporting crude oil for the first time to the Gulf of Oman, bypassing the strategic Strait of Hormuz.

During a ceremony marking the inauguration of the project, President Hassan Rouhani described the plan as “strategic”.

Iranian state media described the move as an indication that the sanctions imposed by the United States were being undone. Washington imposed sanctions on Tehran after former US President Donald Trump pulled his country out of a nuclear deal between Iran and world powers.

The project, which started in 2019 and will cost some $ 2 billion in total, is helping Iran reduce its dependence on its main oil export terminal on Kharg Island in the Persian Gulf. . The shortcut also reduces the costs of transport and insurance for tankers.

The facility currently allows the pumping of some 30,000 barrels of crude into tankers per hour, via a floating anchored offshore jetty, or a single mooring. It is located approximately seven kilometers (4.7 miles) off the coast.

“82% of this project has been completed and so far over $ 1.2 billion has been spent on it,” Oil Minister ‌Jan Zanganeh said.

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