South Korea will receive 6 million barrels of crude from the UAE, with 4 million shipped directly and 2 million available from reserves stored in Korea.

SEOUL: South Korea plans to receive at least 6 million barrels of crude oil from the United Arab Emirates.

Presidential Chief of Staff Kang Hoon-sik outlined the arrangement on Friday. The deal involves two distinct supply streams.

South Korea will receive 4 million barrels by dispatching two oil tankers to a UAE port. Kang noted this port does not require transit via the strategic Strait of Hormuz.

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The UAE’s state oil company will fill the vessels directly. This direct shipment forms the bulk of the immediate supply.

A further 2 million barrels are available from UAE crude held in storage within South Korea. Kang said the UAE assured this reserve could be provided whenever required.

South Korea will also look to expand its ability to secure oil through alternative ports. This move aims to further diversify the nation’s energy supply routes.

 The Sun Malaysia