Saturday, Jul 14, 2012
In a landmark development, the 1.5 million-barrel-per-day Abu Dhabi crude oil pipeline that runs from Habshan in Abu Dhabi to Fujairah, will be inaugurated on Sunday, a senior oil industry executive familiar with the developments told Gulf News.
The pipeline will be inaugurated on Sunday at Fujairah, said the executive, who asked not to be identified.
The $3.3 billion (Dh12.12 billion), 370-kilometre Habshan-Fujairah pipeline will allow the UAE to have direct access to the Indian Ocean for its crude oil exports.
The pipeline also provides an option to bypass the Strait of Hormuz, through which nearly a fifth of the worlds seaborne oil passes.
Export of crude oil passing through this new pipeline are likely to start in August, a senior executive from the Adnoc Group said here recently.
By Himendra Mohan Kumar, Staff Reporter
Gulf News 2012. All rights reserved.
