South Korea is preparing emergency measures to secure crude oil supplies, including dispatching special envoys to Saudi Arabia, Oman and Algeria, as flows through the Strait of Hormuz are effectively disrupted, according to Yonhap.
Authorities are moving to reroute imports via the Red Sea, with five Korean-flagged vessels being lined up for liftings from Yanbu on Saudi Arabia’s western coast, signalling a shift away from Gulf-dependent supply chains.
The government is readying the release of strategic oil reserves to private refiners to bridge immediate shortages while replacement cargoes are arranged.
“The government will first supply the strategic oil reserves to private refiners and later carry out swaps once the overseas shipment arrives in Korea,” Ahn Do-geol said.
Daily monitoring of naphtha supply chains across 50 major industries has been intensified as disruptions feed into petrochemical and industrial production risks, underscoring exposure beyond crude imports.
