Saudi Eyes 10 Million Barrels a Day of Oil Pipe Capacity
Saudi Energy Minister Prince Abdulaziz bin Salman said the kingdom is looking at ways to expand its oil pipeline capacity to destinations outside the Persian Gulf to 10 million barrels a day within two to three years. The plans include improvements to pumping stations on the East-West pipeline and repurposing a gas pipeline, which could carry about 1.2 million barrels a day of crude within seven to eight weeks. The East-West pipeline was carrying 5.8 million barrels a day as of Oct. 6, following the resumption of operations after a September drone attack.
Why it matters: The expansion is framed around energy security, since the East-West route provides an alternative to shipping crude through the Strait of Hormuz.