economy
UAE fast-tracks second pipeline to double exports around Strait of Hormuz
The United Arab Emirates revealed that it was constructing a second pipeline to double its ability to export oil around the Strait of Hormuz.
TL;DR
- UAE is building a second oil export pipeline to bypass the Strait of Hormuz.
- The new pipeline aims to double the UAE's oil export capacity.
- Construction is being fast-tracked, with completion expected next year.
- The existing Habshan-Fujairah pipeline can transport 1.8 million barrels per day.
- The UAE produces 3.2 to 3.6 million barrels per day.