Saudi Aramco CEO Amin H. Nasser said the company could restart disrupted oil operations within several days as threats of attacks increased.
Speaking in Japan, Nasser said Saudi Arabia was exploring routes that could be used for crude oil exports as alternatives to the three main routes currently available. Aramco is also considering increasing its storage capacity outside Saudi Arabia to guard against the risk of disruptions.
Alternative routes for Aramco infrastructure
Nasser argued that Aramco's infrastructure was resilient against major disruptions. He said the company had returned to full capacity within 11 days after the 2019 attacks and that most temporary disruptions could be resolved within several days.
Nasser said the East-West oil pipeline did not consist of a single line and that taking all the lines out of service at the same time would not be easy. He said this infrastructure gave Aramco flexibility in managing its operations and meeting customers' needs.
Nasser said the company had access not only to the Strait of Hormuz, the Bab el-Mandeb Strait and the East-West Pipeline, but also to the 320-kilometer Sumed Pipeline, which carries crude oil through Egypt and connects the Red Sea to the Mediterranean.
Oil tankers redirected to alternative routes
Nasser said disruptions in the Strait of Hormuz and the Bab el-Mandeb Strait had not halted shipments, adding that tankers had been redirected to other routes and that buyers' demands had been met in this way.
Nasser said Aramco's oil production remained below the levels recorded before the U.S.-Iran War, adding that the company was therefore working on alternatives.
Nasser argued that the oil crisis that emerged worldwide after the war had not eased. He said the disruption was significant, adding that he did not believe conditions had improved and that the situation could deteriorate further.
