South Korea will import 18 million barrels of Kazakh oil via routes bypassing the Strait of Hormuz, as it seeks to shield its energy supply from mounting instability in the Middle East.
South Korea has agreed to purchase 18 million barrels of crude oil from Kazakhstan using alternative transport routes, in a calculated effort to reduce exposure to geopolitical disruption in the Middle East.
The arrangement was confirmed by Kang Hoon-sik, chief of staff to the South Korean president, following high-level talks in Kazakhstan on 8 April. It forms part of a broader push by Seoul to diversify both suppliers and logistics chains.
The deal sits within a wider procurement framework under which South Korea has secured contracts for 273 million barrels of oil through to the end of 2026.
Alongside Kazakhstan, the agreements cover supplies from Oman, Saudi Arabia and Qatar. Within this structure, Kazakhstan’s share remains relatively modest at around 6%, suggesting that while its role is expanding, it is not yet central to South Korea’s import mix.
Saudi Arabia is set to continue as South Korea’s principal partner under long-term contracts, accounting for up to 200 million barrels of crude and at least 500,000 tonnes of naphtha.
Oman is expected to provide around 5 million barrels of oil and up to 1.6 million tonnes of naphtha, reinforcing the Gulf’s central role in Seoul’s energy portfolio.
Talks in Kazakhstan also resulted in an agreement on the supply of up to 2.1 million tonnes of naphtha and the establishment of a new direct channel for high-level bilateral engagement, indicating an intention to institutionalise cooperation beyond individual contracts.
For Kazakhstan, ranked 12th globally in oil production, the agreement aligns with its broader ambition to widen export routes and strengthen its position in Asian markets.
A defining feature of the arrangement is its logistical dimension. Both crude and naphtha will be transported via routes that avoid the Strait of Hormuz, a critical maritime chokepoint long exposed to disruption amid regional tensions.
South Korean officials expect this shift to alternative corridors to have a tangible stabilising effect on the domestic energy market, even if transit times - estimated at 50 to 60 days - remain broadly comparable to shipments from more distant suppliers such as the U.S.
Minval Politika has released new footage it says shows former International Criminal Court prosecutor Luis Moreno Ocampo discussing alleged contact...
The 19th Azerbaijan International Agricultural Exhibition and Forum, Caspian Agro Week, and the 31st InterFood Aze...
As Azerbaijan expands its economic partnerships beyond traditional markets, the Afri...
Azerbaijan says political pressure and what it describes as biased rhetoric from some European institutions are co...
Tbilisi is carefully rebuilding ties with Washington, using connectivity, regional diplomacy and security cooperation to position Georgia as a stra...
The 19th Azerbaijan International Agricultural Exhibition and Forum, Caspian Agro Week, and the 31st InterFood Azerbaijan have opened in Baku, bringing together global industry leaders, policymakers and investors to showcase innovations in agriculture and food production.
As Azerbaijan expands its economic partnerships beyond traditional markets, the Africa-Azerbaijan Business Forum in Baku is emerging as a new platform for strategic cooperation between the South Caucasus and Africa.
Tbilisi is carefully rebuilding ties with Washington, using connectivity, regional diplomacy and security cooperation to position Georgia as a strategic partner at a time of shifting global trade and geopolitical priorities.
The U.S. and Iran exchanged fire in and around the Strait of Hormuz, though both sides signalled they did not want escalation. The clashes come as Washington awaits Tehran’s response to a proposed deal to end the war while leaving key disputes, such as Iran’s nuclear programme, unresolved for now.
The U.S military said it carried out retaliatory strikes on Iran on Thursday (7 May). Meanwhile, Iran's Joint Military Command accused the U.S. of breaching the ceasefire, by striking an Iranian oil tanker in the Strait of Hormuz and launching attacks on several Iranian cities.
The U.S. and Iran exchanged fire in and around the Strait of Hormuz, though both sides signalled they did not want escalation. The clashes come as Washington awaits Tehran’s response to a proposed deal to end the war while leaving key disputes, such as Iran’s nuclear programme, unresolved for now.
Latvian authorities said two drones entered NATO member Latvia from Russian territory and crashed on Thursday morning, with officials linking them to Ukraine’s wider drone operations against targets in Russia.
Singapore has isolated and is testing two of its residents who travelled aboard a cruise ship linked to a deadly hantavirus outbreak, the Communicable Diseases Agency (CDA) said on Thursday.
The United States is closely monitoring American passengers aboard a luxury cruise ship affected by a hantavirus outbreak, the U.S. Centers for Disease Control and Prevention (CDC) said on 6 May.
The 19th Azerbaijan International Agricultural Exhibition and Forum, Caspian Agro Week, and the 31st InterFood Azerbaijan have opened in Baku, bringing together global industry leaders, policymakers and investors to showcase innovations in agriculture and food production.
Minval Politika has released new footage it says shows former International Criminal Court prosecutor Luis Moreno Ocampo discussing alleged contacts with Armenia’s foreign minister and campaigns linked to Azerbaijan and Armenia.
Azerbaijan says political pressure and what it describes as biased rhetoric from some European institutions are complicating peace efforts with Armenia and undermining neutrality in the negotiations.
Tbilisi is carefully rebuilding ties with Washington, using connectivity, regional diplomacy and security cooperation to position Georgia as a strategic partner at a time of shifting global trade and geopolitical priorities.
Ankara has denied reports that French President Emmanuel Macron was prevented from entering Türkiye from Armenia following his recent visit to Yerevan..
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment