Saudi Aramco CEO Amin H. Nasser said during a visit to Japan that the company could restart operations disrupted amid heightened threats of attacks within a few days.
Nasser said Saudi Arabia was exploring alternative routes in addition to the three main corridors currently used for its crude oil exports. He added that Aramco was also evaluating the option of expanding its storage capacity outside Saudi Arabia.
Aramco's regional route options
Nasser said Aramco's infrastructure was resilient against major disruptions and that the company had returned to full capacity within 11 days after the 2019 attacks. He added that temporary disruptions were generally resolved within a few days.
Stating that the East-West oil pipeline did not consist of a single line, Nasser said it would be difficult to disable all the pipelines at the same time. He said this structure gave Aramco flexibility to respond to disruptions and meet its 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 transports crude oil between the Red Sea and the Mediterranean via Egypt.
Oil shipments rerouted
Nasser said disruptions in the Strait of Hormuz and Bab el-Mandeb had not halted shipments, adding that vessels had been redirected along other routes and buyers' demands were being met in this way.
Nasser said Aramco's oil production remained below pre-U.S.-Iran war levels and that the company was therefore working on alternatives.
Nasser argued that the global oil crisis following the war had not eased. Saying the disruption was significant, Nasser said he did not believe conditions had improved and that the situation could deteriorate further.
