• 4 minutes Europeans and Americans are beginning to see the results of depending on renewables.
  • 7 minutes Is China Rising or Falling? Has it Enraged the World and Lost its Way? How is their Economy Doing?
  • 13 minutes NordStream2
  • 12 hours Monday 9/13 - "High Natural Gas Prices Today Will Send U.S. Production Soaring Next Year" by Irina Slav
  • 2 hours California to ban gasoline for lawn mowers, chain saws, leaf blowers, off road equipment, etc.
  • 20 hours "Here is The Hidden $150 Trillion Agenda Behind The "Crusade" Against Climate Change" - Zero Hedge re: Bank of America REPORT
  • 21 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 2 days An Indian Opinion on What is Going on in China
  • 2 days "A Very Predictable Global Energy Crisis" by Irina Slav --- MUST READ
  • 1 day Nord Stream - US/German consultations
  • 2 days Can Technology Keep Coal Plants Alive and Well?
  • 3 days Two Good and Plausible Ideas about Saving Water and Redirecting it to Where it is Needed.
  • 3 days Succession Planning in Human Resources for Vaccinated Individuals in the Oil & Gas Industry
  • 5 days Perfect Energy Storm in Europe: turning our back on fossil fuels is easier said than done!
  • 2 days U.S. : Employers Can Buy Retirement Security for $2.64 an Hour
  • 2 days Storage of gas cylinders
RFE/RL staff

RFE/RL staff

RFE/RL journalists report the news in 21 countries where a free press is banned by the government or not fully established. We provide what many…

More Info

Premium Content

Iran Opens Export Terminal To Bypass World’s Biggest Oil Chokepoint

Iran says it has opened its first oil export terminal in the Gulf of Oman to allow Tehran to avoid using the strategic Strait of Hormuz shipping route that has long been a focus of regional tensions.

"Today, the first shipment of 100 tons of oil is loaded outside the Strait of Hormuz," President Hassan Rohani said in a televised speech on July 22, calling it an "important step for Iran" that will "secure the continuation of our oil exports."

The new terminal, located near the port city of Jask, will allow tankers headed into the Arabian Sea and beyond to avoid the Strait of Hormuz at the head of the Persian Gulf, through which one-fifth of world oil output passes.

Rohani said Iran aimed to export 1 million barrels per day of oil from the facility, which officials said will cost some $2 billion.

Oil Minister Zanganeh said that "82 percent of this project has been completed and so far more than $1.2 billion has been spent on this."

Iran's main oil export terminal is located at Kharg inside the narrow strait, which is patrolled by warships of its arch-foe, the United States.

There have been periodic confrontations between Iran's Islamic Revolutionary Guards Corps (IRGC) and the U.S. military in the area.

Iran has often threatened to block the Strait of Hormuz if its crude exports were shut down by U.S. sanctions, which have heavily impacted Iranian energy exports.

Washington reimposed the sanctions more than three years ago when then-President Donald Trump withdrew the United States from the 2015 nuclear deal between Tehran and world powers.

Tehran and U.S. President Joe Biden's administration have been in indirect talks in Vienna since April to try to revive the agreement, under which Iran agreed to curb its nuclear program in return for the lifting of most international sanctions.

By RFE/RL

More Top Reads From Oilprice.com:


Download The Free Oilprice App Today

Back to homepage





Leave a comment

Leave a comment




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News