{
  "id": 12402257,
  "title": "Gulf Producers Say Importers Should Share the Cost of Hormuz Workarounds",
  "url": "https://urgent.news/2026/10/06/gulf-producers-say-importers-should-share-the-cost-of-hormuz",
  "topic": "business",
  "section": "Business",
  "published": "2026-10-06T14:30:00.000Z",
  "source": {
    "name": "OilPrice",
    "slug": "oilprice",
    "url": "https://oilprice.com/Latest-Energy-News/World-News/Gulf-Producers-Say-Importers-Should-Share-the-Cost-of-Hormuz-Workarounds.html"
  },
  "original_language": "en",
  "account": "Two of the world's largest oil producers, Saudi Aramco and Kuwait Petroleum Corporation, have jointly urged importers to help cover the costs associated with alternative routes to transport crude and fuel around the Strait of Hormuz. Saudi Aramco CEO Amin Nasser stated during the 2026 Energy Intelligence Forum in London, \"Every attack comes with a global price weaker energy security, greater market disruption, lives and livelihoods on the line.\" Kuwait is also in talks with European partners to store refined petroleum products closer to European consumers, with KPC CEO Sheikh Nawaf Saud Al-Sabah adding, \"We want to be in that position where we’re providing you the distillates and you also need to make those logistical investments ready so that we can store.\" Following Iran's closure of the Hormuz Strait at the end of February, Gulf oil producers have been forced to explore alternative shipping routes. They have resorted to using smaller tankers offshore and larger carriers through the Red Sea, which was shut down for repairs after being attacked by drones. Saudi Arabia redirected most of its crude oil shipments to the Red Sea via the East-West pipeline, but this infrastructure was also targeted. Meanwhile, Iraq is contemplating reviving a defunct pipeline to Syria to transport crude oil to its Mediterranean coast, circumventing the Hormuz Strait.",
  "summary": "The top executives of some of the biggest Gulf oil-producing companies called for external investments into new routes to bypass the Strait of Hormuz and create and expand crude and fuel storage capacity outside the region and closer to consumers. “While the Kingdom is capable and confident, and its systems are coping, no country should face this alone,” Saudi Aramco’s CEO Amin Nasser said at the…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}