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Oil exports through Suez Canal increase after Hormuz threats

Oil&Gas Materials 7 November 2012 17:44 (UTC +04:00)

Azerbaijan, Baku, Nov. 7 / Trend A.Tagiyeva /

Oil transportation to the U.S through the Suez Canal has increased by 25 percent in the first nine months of 2012 compared to the same period in 2011, Deputy Section Director at the Suez Canal Mahmoud Rezk told the Al Arabiya channel on Wednesday.

He said the reason is Iran's threat regarding the closing of the Strait of Hormuz and U.S. efforts to increase the oil reserves imported from the Arab states of the Persian Gulf.

Rezk noted that during this period some104.9 million tons of oil were transported through Suez Canal compared to 83.9 million tons in January-September 2011.

The threat was made earlier by Iranian leaders. These statements were supported by large-scale naval exercises with rocket fire that took place in the strait.

The Strait of Hormuz is the entrance to the strategic water route of Persian Gulf and one of general routes of oil supply from Persian Gulf countries to Europe.

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