Amid tensions in the Strait of Hormuz, Saudi Arabia has assured oil supplies to India. It is sending oil from Yanbu Port via the Red Sea, and 4 big tankers are coming to India. However, this new route also remains under threat from Houthi rebels.
The increasing tension between America, Israel and Iran has worried the whole world, but in the meantime there has been a news of relief for India. When it has become difficult for ships to pass through the Strait of Hormuz due to the conflict with Iran, Saudi Arabia has come forward to help India. Saudi has promised to continue supplying oil to India and has also started sending oil tankers as a gesture of friendship.
Hormuz unsafe, Saudi adopted another route
About 20% of the world’s oil trade passes through the Strait of Hormuz. But due to attacks on Iranian ships this route has now become very unsafe. Understanding this danger, Saudi Arabia has found another way to deliver oil to India. Now crude oil is being sent to India from Saudi’s ‘Yanbu’ port via the Red Sea.
4 big tankers coming towards India
According to data from Kepler Report, four big tankers have already left for India from Saudi Arabia. These tankers contain about 60 lakh (6 million) barrels of oil. It is expected that by the end of this month 90 lakh to 1 crore (9 to 10 million) barrels of oil will reach India. Oil is brought to Yanbu Port through about 1,200 km long pipeline and from there it is loaded in ships and sent to India.
Threat from Houthi rebels near Bab al-Mandeb
Although Saudi Arabia has chosen a new path, the challenges are not completely over yet. There is a threat from Houthi rebels in the Bab el-Mandeb area, where ships may be attacked. Therefore the route to the Red Sea is also not completely safe. Nevertheless, it is a big relief for India in the current tense situation. Despite limited pipeline capacity, Saudi is ensuring that the oil supply does not stop.
American bombing of Iranian missile sites
On the other hand, America is also taking retaliatory action to reduce Iran’s dominance on the global oil market. On March 17, the US bombed Iran’s anti-ship missile bases near the Strait of Hormuz. America’s objective is to reduce Iran’s control over this route, so that the movement of international ships can become easier.