The head of Abu Dhabi National Oil Company said on Wednesday that the UAE's newly constructed crude oil pipeline bypassing the Strait of Hormuz is about 50% complete and currently accelerating progress, aiming to finish and put into operation before 2027. He noted that the world still relies too heavily on a few critical chokepoints for energy transport, which was precisely why the UAE decided over a decade ago to invest in infrastructure bypassing the Strait of Hormuz. He also stated that even after the Iran conflict ends, global oil shipping volumes will need at least four months to recover to 80% of pre-war levels. Previously, the Crown Prince of Abu Dhabi had instructed the company to accelerate construction of the crude oil pipeline project, with the goal of doubling export capacity through the Fujairah Port by 2027.
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Original article: toutiao.com/article/1865767970860105/
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