Search and Hit Enter

Iran begins pumping oil bypassing Strait of Hormuz, authorities say

“The executive director of the National Iranian Oil Company has announced the start of an operation to supply crude oil from Goreh to Jask”, the company said in a statement.

Iranian President Hassan Rouhani said that Tehran intended to sell over 2.3 million barrels of oil per day (bpd) in 2021.

The move comes in light of a significant reduction in Iranian exports over recent years.

According to media reports, the construction of the Goreh-Jask oil pipeline will permit Tehran to transfer up to 1 million bpd from the territory near the eastern Persian Gulf straight to the Gulf of Oman port, thus bypassing the Strait of Hormuz.

The pipeline project was initially scheduled to be completed in the first quarter of 2021.

Source: SPUTNIK NEWS