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Sources: Saudi Arabia plans to expand oil pipeline in Red Sea direction, bypassing Strait of Hormuz to add 2 million barrels per day capacity.

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Golden Finance reported on July 7 that five informed sources revealed that Saudi Arabia is considering expanding the capacity of its crude oil pipeline to the Red Sea's west coast, enabling the kingdom and its neighbors to transport more oil without passing through the Strait of Hormuz. This east-west pipeline, built in the early 1980s, has grown in strategic importance since the outbreak of the Iran war in February and the disruption of shipping in 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 stated in May that about 2 million barrels per day supply the west coast refineries, while around 5 million barrels per day are for export. Sources said Saudi Arabia is in preliminary consultations with some neighboring countries on pipeline expansion, planning to add approximately 2 million barrels per day of pipeline capacity. It is unclear whether Aramco's planned expansion involves upgrading existing infrastructure or building new pipelines. One source said the expansion plan also includes a smaller refined products pipeline. Two sources said the expansion scale could range from 1 million to 2 million barrels per day, with refined products also under consideration. Another source said the project would take years and cost billions of dollars, and would require adjustments to Saudi crude oil pricing mechanisms. (Jin Shi)
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