• 3 minutes Shale Oil Fiasco
  • 7 minutes "Leaked" request by some Democrats that they were asking Nancy to coordinate censure instead of impeachment.
  • 12 minutes Trump's China Strategy: Death By a Thousand Paper Cuts
  • 16 minutes Global Debt Worries. How Will This End?
  • 13 hours DUMB IT DOWN-IMPEACHMENT
  • 2 hours POTUS Trump signs the HK Bill
  • 16 hours Greta named Time Magazine "Person of the Year"
  • 18 mins Tories on course to win majority
  • 35 mins americavchina.com
  • 3 hours WTO is effectively neutered. Trump *already* won the trade war against China and WTO is helpless to intervene
  • 1 hour Winter Storms Hitting Continental US
  • 11 hours Everything you think you know about economics is WRONG!
  • 22 hours Forget The Hype, Aramco Shares May be Valued At Zero Next Year
  • 1 hour Aramco Raises $25.6B in World's Biggest IPO
  • 1 day Can Renewable Natural Gas Compete With Diesel?
Oil Jumps On ‘’Saudi Surprise’’

Oil Jumps On ‘’Saudi Surprise’’

Oil prices rose on Friday…

Iran’s Navy to Escort All Tankers Leaving Coast

Oil tanker at open sea

Iran’s Navy will escort all tankers and other commercial vessels leaving the coast of the country to ensure their safe passage through risky waters. This is what Rear Admiral Habibollah Sayyari, the commander of the Navy force of Iran, told state news agency Shana.

Sayyari explained that the Navy had been approached by the National Iranian Tanker Company to guarantee the safety of commercial vessels setting sail from Iran to the south, where they must pass through the Bab al-Mandab Strait between Somalia and Yemen, and parts of the Red Sea.

As Oilprice reported last week, there has been a spate of pirate attacks on navy vessels and merchant tankers in the narrow strait off Yemen, which is raising concerns over the security of commercial oil and gas shipping in the vital Bab al-Mandab Strait, the waterway of global trade between the Mediterranean, the Suez Canal and the Indian Ocean. The strait links the Red Sea with the Gulf of Aden.

The Iranian Navy’s commander said that since 2008, when pirate activity spiked in the region, the Navy forces had escorted 3,800 commercial vessels, including tankers, ensuring their safe passage through pirate-infested waters.

The Bab-al-Mandab Strait sees some 3.8 million barrels of crude pass through it on a daily basis en route to ports around the world. The Bab al-Mandeb Strait had seen oil trade steadily growing in recent years, meaning even more oil was at risk.

According to the U.S. Energy Information Administration, trade in crude oil and petroleum products at this chokepoint jumped to nearly 4.7 million barrels per day in 2014, almost doubling from the 2.7 million barrels in 2010. That reduction is thought to be at least partly because of the higher risks associated with traffic through it.

By Irina Slav for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment
  • Philip Branton on November 08 2016 said:
    Hmm......dare to wonder what else is being shipped in these escorted tankers in addition to oil..?

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News
Download on the App Store Get it on Google Play