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.
Air quality in Singapore plunged to “very unhealthy” levels on Friday, 9 October, as thick haze engulfed the city-state ahead of Sunday...
Iran has unveiled the restored mausoleum of 13th-century mystic Shams Tabrizi in the northwestern city of Khoy, with plans for a cultural tourism r...
European Union measures suspending import duties on 80 per cent of Armenian exports to the bloc came into effect on Saturday. The te...
Leaders of countries from the Commonwealth of Independent States (CIS) have agreed to hold coordinated population censuses around 2030. They took the decision at the CIS Council of Heads of State meeting in Awaza, Turkmenistan on Friday, media reported.
Britain and Israel have reached a temporary compromise over the future of the British Consulate General in East Jerusalem, easing a diplomatic dispute that had threatened to further strain relations between the two countries.
The Nobel Peace Prize 2026 will be announced on Friday, 9 October, bringing one of the world's most closely watched awards back into focus.
South African judge Navanethem “Navi” Pillay won the Nobel Peace Prize on Friday “for her efforts to promote peace and international law,” the Norwegian Nobel Committee said.
The U.S. has imposed sanctions on the International Criminal Court (ICC) on Friday (9 October) escalating tensions with European allies and potentially targeting companies that provide services to the tribunal. The move came hours after former ICC judge Navi Pillay won the Nobel Peace Prize.
European Union measures suspending import duties on 80 per cent of Armenian exports to the bloc came into effect on Saturday. The temporary liberalisation measures are aimed at supporting Armenian producers and exporters following trade restrictions imposed on the country's products by Russia.
Georgia is enjoying one of its biggest and highest-quality grape harvests since independence. By 6 October, growers in the country's main wine-producing region, Kakheti, had delivered 182,210 tonnes of grapes, with 99 per cent rated medium or high quality, despite recent protests over prices.
Uzbekistan has unveiled plans to deepen economic ties with Central Asia and Azerbaijan, proposing shared artificial intelligence infrastructure, a critical minerals alliance and a regional trade strategy extending to 2035.
Leaders of countries from the Commonwealth of Independent States (CIS) have agreed to hold coordinated population censuses around 2030. They took the decision at the CIS Council of Heads of State meeting in Awaza, Turkmenistan on Friday, media reported.
Saudi Arabia has restored its vital East-West oil pipeline to near-full capacity, but escalating Houthi attacks on energy facilities, airports and transport infrastructure are raising fresh concerns over the security of its oil exports.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment