Korea Secures 273 Million Barrels of Crude Oil
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The South Korean government has secured a large volume of crude oil and naphtha through cooperation with Middle Eastern and Central Asian countries.
An official who recently returned from an overseas diplomatic mission announced that imports of approximately 273 million barrels of crude oil have been confirmed by the end of this year. This amount is enough to cover more than three months of domestic demand.
In addition, up to 2.1 million tons of naphtha have been secured, equivalent to about one month of imports.
The newly secured supplies are expected to come from routes unaffected by disruptions in the Strait of Hormuz, helping stabilize the country’s energy supply amid global uncertainties.
Key partnerships with major oil-producing countries such as Kazakhstan, Oman, and Saudi Arabia have also been strengthened, with some pledging priority supply to Korea.
The government plans to continue expanding alternative supply chains and overseas energy cooperation to ensure long-term stability.
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#EnergySecurity
#MiddleEast
#KoreaEconomy
#Naphtha
#World Current Affairs Economy
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