Recently,Abu Dhabistarted selling abroad its oil from a new pipeline that actually bypassesHormuzStrait, delivering the fuel from the bordering Sheikhdom of Fujairah region to a distant oil refinery located inPakistan.

The Oil Minister for the presentUnited Arab Emirates, Mohammed Al-Hamli said during the inauguration ceremony that the new pipeline, extending fromAbu Dhabito the far-off Fujairah on the famousGulfofOman, started loading a delivery of around 500,000 barrels. Khadem al-Qubaisi, the Managing Director told at the ceremonial inFujairahthe International Petroleum Investment Corporation has spent nearly around $4.2 billion, constructing the423 kilometers(263 miles) link.

The U.A.E’s capital and also the owner of nearly more than 90-percent of its total oil, Abu Dhabi, constructed the export route for oil to avoid Hormuz, a thin waterway shipping a 5th of the globe’s traded oil thatIran has endangered to obstruct in vengeance for sanctions aiming the nation’s nuclear program.

Construction expenses were nearly 27 percent greater than the $3.3-billion agreement awarded to China Petroleum Engineering and Construction Corporation in 2008 and the project was delayed by nearly eleven months. The Head of Manaar Energy Consulting and Project Management, Robin Mills said that the new pipeline will get utilized if they maintain the cost of the crude fromFujairahalmost the same as that of loading from within the Gulf.

It clearly indicates thatAbu Dhabiis just consuming the price of the pipeline, since it has been constructed only for strategic reasons, and if it was merely a commercial project, they would have made it several years ago.

Mohammad Hassan Asferi, an Iranian lawmaker, told that the pipeline’s restricted capacity would maintain it from preventing the need of local suppliers to send overseas most of their oil via the strait. The pipeline is a misinformation and a bad political planning directed by the Western Countries, particularly the U.S, which targets to decrease the strategic importance ofHormuzStrait.

The link can carry nearly 1.5 million barrels of Murban crude each day from Habshan, a group point for onshore oil fields of Abu Dhabi, across mountains and a desert to Fujairah. The new system can drive as much as nearly 1.8 million barrels a day at regular intervals. As reported by one of the leading sources. U.A.E., the 5th largest oil manufacturer in OPEC, propelled 2.61 million barrels a day in 2012 June.

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