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Sources: Saudi Arabia plans to expand oil pipeline in the Red Sea direction, bypassing the Strait of Hormuz to increase daily capacity by 2 million barrels.

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ME News, July 7 (UTC+8), five informed sources revealed that Saudi Arabia is considering expanding the capacity of its crude oil pipeline to the Red Sea's west coast, allowing Saudi Arabia and its neighbors to transport more oil without passing through the Strait of Hormuz. This east-west pipeline, built in the early 1980s, has become increasingly strategically important since the outbreak of the Iran war in February and the disruption of shipping through the Strait of Hormuz. The pipeline can deliver up to 7 million barrels per day of crude oil to the Red Sea port of Yanbu. Saudi Aramco's CEO said in May that about 2 million barrels per day supply the west coast refineries, while approximately 5 million barrels are for export. Sources said Saudi Arabia is in preliminary talks with some neighboring countries about expanding the pipeline, with plans to add about 2 million barrels per day of pipeline capacity. It is currently unclear whether Aramco's planned expansion involves upgrading existing infrastructure or building new pipelines. One source said the expansion plan also includes a smaller product pipeline. Two sources said the expansion scale could be between 1 million and 2 million barrels per day, with refined products also under consideration. Another source said the project would require several years and billions of dollars, and would require adjustments to Saudi Arabia's crude oil pricing mechanism. (Jin Shi) (Source: ODAILY)
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