New UAE pipeline bypasses Gulf

The UAE and Saudi Arabia have opened up and started operating a pipeline for oil exports which bypasses the Strait of Hormuz. The new link is expected to double the total pipeline capacity to 6.5million barrels a day, according to reports. The move will also reduce Iran’s power over oil markets as the country has […]

Iran threatens to cut major oil route

International reports suggest Iran has warned it could easily cut off the strategic Strait of Hormuz at the mouth of the Persian Gulf, the passageway through which a sixth of the world’s oil flows. According to Reuters Iran’s first vice-president warned that the flow of oil would be stopped if sanctions were imposed on Iran’s […]