The Strait of Hormuz remains closed as Iran continues to restrict access and prevent energy flows to global markets, according to Sultan Al Jaber, chief executive officer of Abu Dhabi National Oil Co., the largest oil producer in the United Arab Emirates.
Al Jaber said on LinkedIn that Tehran’s requirement for supervised transits is unacceptable. “Conditional passage is not passage. It is control by another name,” he stated. “The Strait must be open — fully, unconditionally and without restriction.”
Approximately 230 vessels filled with oil are ready to sail, Al Jaber said. Adnoc has loaded cargoes and plans to expand production within the constraints of damage to its infrastructure during the war, he added.
The waterway has been largely shut since the Iran war began at the end of February. Al Jaber previously described Iran’s blockage of the strait as economic terrorism.
Iran’s Ports and Maritime Organization announced Thursday two designated safe routes for vessels entering and exiting Hormuz, according to state-run Nour News. The routes were established to avoid the potential presence of sea mines in the area.
The UAE and other Gulf producers have shut in production of oil, gas and refined products because of the Hormuz blockage. Oil prices surged above $100 a barrel and remain near that level following a tentative ceasefire that was meant to include an opening of the strait.
Source: Investing.com
