Energy prices spike with Strait at a standstill
International shipping has come to a halt at the Strait of Hormuz, the critical waterway through which some 20% of the world’s oil and gas is transported, pushing oil prices up 10% and gas by 40%
Oil refinery
Oil terminal
LNG export terminal
Pipeline
Iraq: Khor Mor oil field halts production
Persian Gulf: Millions of barrels of oil onboard tankers unable to proceed
Ras Tanura: Drone attack halts operations at Saudi Aramco’s largest refinery
Qatar: Shuts down natural gas production
Strait of Hormuz: At least four vessels attacked – Tehran closes waterway
KUWAIT
QATAR
UAE
BAHRAIN
IRAN
Arabian Sea
OMAN
1
2
3
4
5
200km
125 miles
ALTERNATIVE ROUTES
Pipelines
Kirkuk-Ceyhan 1.5 mbpd123
Sumed 2.5 mbpd
Petroline (East-West) 5 mbpd
Goreh-Jask 350,000 bpd
Abu Dhabi Crude 1.5 mbpd
SYRIA
IRAQ
SAUDI ARABIA
Gulf of Oman
GLOBAL OUTPUT
Crude and condensate
Via Strait 30.7%
TOTAL
Majority to India and China
Liquid natural gas
Via Strait 20%
TOTAL
Qatar accounts for 20% of total
Gasoline 16%
Diesel 10.3%
Aviation 19.4%
Sources: Bloomberg, Reuters, Kpler
© GRAPHIC NEWS