Pakistan on Wednesday sought an alternative oil supply route through Saudi Arabia’s Red Sea port of Yanbu amidst Iran’s ongoing blockade of Strait of Hormuz, threatening not only Islamabad’s but also the world’s energy flows.
According to a statement issued by the Petroleum Division, Petroleum Minister Ali Pervaiz Malik conveyed the request to Saudi Ambassador to Pakistan Nawaf bin Said Al-Malki during a meeting at in Islamabad. It said he had briefed the envoy on the fast-evolving regional situation and its implications for international energy markets, noting the bulk of Pakistan’s oil and energy supplies normally pass through the Strait of Hormuz.
Malik said the government is closely monitoring developments on a daily basis and making active efforts to ensure the continuity of the country’s energy supply chain. He said support from brotherly countries, particularly Saudi Arabia, is critical for Pakistan in the current circumstances.
The minister further said Saudi authorities had assured Pakistan that oil supplies could be facilitated through the port of Yanbu on the Red Sea to help meet the country’s energy needs. He expressed gratitude for the continued support of Saudi Arabia, adding the Kingdom is already assisting Pakistan. He also informed the ambassador that one vessel has been assured dispatch from Pakistan to the Port of Yanbu to lift crude oil for the country. He hoped that supplies of oil from the Port of Yanbu would be prioritized for Pakistan.
According to the statement, the Saudi ambassador said the Kingdom was fully aware of regional developments. He reaffirmed that Saudi Arabia would stand firmly with Pakistan to meet any emergency energy requirements, describing the two states as brotherly nations who would continue to support each other, particularly in testing times.
Pakistan’s bid to secure its energy supplies follows a warning from Iran that it would target any vessel attempting to pass through the Strait of Hormuz in light of joint airstrikes conducted by United States and Israel. The decision risks hiking up crude prices, as the Strait of Hormuz is one of the world’s most vital oil export corridors, linking major Gulf producers to the Gulf of Oman and the Arabian Sea.