Iran opens oil terminal to bypass strategic Strait of Hormuz | Oil and gas news

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The opening of the oil terminal in the Gulf of Oman demonstrates the failure of US sanctions, Iranian President Hassan Rouhani said.

Outgoing President Hassan Rouhani has said Iran has opened its first oil terminal in the Gulf of Oman, a move that will allow it to avoid using the shipping route through the Strait of Hormuz, which has been a point of regional concern for decades. tensions.

“This is a strategic move and an important step for Iran. It will ensure the continuation of our oil exports,” Rouhani said in a televised address on Thursday.

“We had a terminal and if there was a problem, our oil exports would be halted,” Rouhani acknowledged, adding that “today is a great historic day for the Iranian nation.”

“Today, the first cargo of 100 tons of oil is being loaded outside the Strait of Hormuz. This shows the failure of US sanctions,” he said.

Rouhani said Iran aims to export one million barrels of oil per day (bpd) from Bandar-e-Jask, a port on the coast of the Gulf of Oman, just south of the Strait of Hormuz, where ships sailing the Arab Sea and further inland, can avoid the narrow strait.

Iran has also built a 1,000 km (600 mi) pipeline to transport its crude oil from Goreh in Bushehr province to the new terminal in the southeast.

Iran has often threatened to block the strait if crude oil exports were halted by United States sanctions, which were reintroduced by Washington three years ago when then-President Donald Trump unilaterally withdrew from a landmark nuclear deal signed in 2015. between Iran and the world powers.

Iranian officials and the administration of US President Joe Biden have been in indirect talks in Vienna since early April to revive the deal, with Iran agreeing to curb its nuclear program in exchange for the lifting of most international sanctions.

The Strait of Hormuz is a narrow channel at the mouth of the gulf through which about a fifth of the world’s oil from Middle Eastern producers flows to markets in Asia, Europe, North America and beyond.

There have been periodic clashes between Iran’s elite Islamic Revolutionary Guard Corps and the US military in the area.

Arch-enemies Iran and Israel have also exchanged accusations of hitting each other’s ships in the region of sensitive waterways.

Ships owned by Israel were attacked in the Gulf of Oman in February and April, with Israel blaming Iran for the explosions.

Iran’s largest naval ship too sank early June after fire in the Gulf of Oman. Officials have not yet said whether the sinking of the Kharg was an act of sabotage or an accident.

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