‘ईरान युद्ध नहीं रुका तो विनाश…’, तेल कंपनी सऊदी अरामको के CEO ने दी बड़ी वॉर्निंग – oil company saudi aramco ceo warns us israel iran war global oil crisis wdrk
Amin Nasser, Chief Executive Officer of Saudi Arabian oil company Saudi Aramco, has warned that if the ongoing war between America-Israel-Iran prolongs, it could have a ‘devastating impact’ on the global oil market. He said that the company is trying to meet the demand of customers, but due to the war and the supply problems arising from it, oil reserves around the world have reached the lowest level in the last five years.
According to Nasser, if the interruption in oil supply continues for a long time amidst the current geopolitical crisis, the reserves will decrease further rapidly. He says that if this happens, not only will it have a serious impact on the global oil market, but the entire global economy can also suffer huge losses.
He especially emphasized the importance of the Gulf of Hormuz. This is one of the most important sea routes in the world, through which a large part of the global oil and natural gas passes. Nasser said that a large part of the additional oil production capacity is present in this region, therefore it is very important to resume the movement of ships in the Gulf of Hormuz.
After the attacks by Israel and America iran had decided to close the Strait of Hormuz, which has disrupted the energy supply and increased concerns about oil shortage across the world.
Aramco reduced oil production, looking for other ways of supply
Saudi Arabia’s oil company, the world’s largest oil exporter saudi aramco It has already started reducing production in its two major oil fields, although complete information about the extent of the cuts and in which areas has not been revealed.
Aramco’s oil exports have been greatly affected due to the closure of the Strait of Hormuz because through this route oil reaches Asian countries like India. Aramco is diverting some of its crude oil ships to Yanbu port, but analysts say this amount is not enough to compensate for the amount of oil supplied through Hormuz.
Many Gulf countries reduced oil production
After the joint attack by America and Israel on Iran on 28 February middle east The war started. After the start of the war, oil production of many countries in the Gulf region has been affected.
Countries like Kuwait, Qatar and Iraq have also reduced production or declared ‘force majeure’ on oil shipments. Force majeure is a legal term that means extraordinary and uncontrolled circumstances due to which a company or party is unable to fulfill the terms of its contract.
Oil and gas production in the countries around the Gulf of Hormuz has been greatly affected due to Iran’s missile and drone attacks. Generally, about 20 percent of the world’s oil and liquefied natural gas (LNG) is supplied through this route.
In view of the situation, Qatar’s oil and gas company Qatar Energy has stopped LNG production at its Ras Laffan Centre. At the same time, Iraq’s oil production has fallen by almost 70 percent. Bahrain’s petroleum company Bapco has also declared force majeure on its oil shipments.
Due to these incidents, oil prices reached their highest level after 2022. This week, the price of global benchmark Brent crude had reached around $ 120 per barrel. Although there has been some softening of prices later, the ongoing conflict in the region has increased the pressure on the global energy market. Because of this, fuel prices may remain high for a long time.
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