Aramco begins expansion of oil export route bypassing Hormuz
Saudi Aramco has begun work to expand its East-West Pipeline's capacity from 7 million to 10 million barrels per day, chief executive Amin Nasser said Tuesday on the effort to bolster a crucial crude export route amid disruption in the Strait of Hormuz.
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What happened: Nasser said on a third-quarter results call with analysts on Tuesday that work was underway to expand the pipeline and build additional networks.
“With regard to the expansion to our East-West Pipeline and the additional networks that we are building, this work has already started,” he said.
Nasser added that Aramco was also conducting engineering work on existing export routes, including via the Strait of Hormuz and the Suez Canal, but will withhold details until final investment decisions are made.