Kuwait eyes alternative oil export routes amid Gulf crisis

Kuwait is discussing with Saudi Arabia and the United Arab Emirates the possibility of exporting its oil through the pipeline systems of those countries amid the crisis in the Persian Gulf, Report informs.

Sheikh Nawaf Saud Nasir Al-Sabah, CEO of Kuwait Petroleum Corporation, said this at an energy forum held at the Atlantic Council in Washington.

"We are in talks with our brothers in Saudi Arabia and the UAE on how to expand their pipeline systems so that they can receive Kuwaiti barrels," he said.

The corporation's chief noted that the Gulf Cooperation Council countries are working together more closely than ever as they seek to respond collectively to challenges.

He clarified that a mutual assistance mechanism exists within the council, under which, if one country is unable to export oil, another country exports it on its behalf, with subsequent mutual settlement. However, in the current circumstances, when no country has spare export capacity, the countries of the region are working on options to expand pipeline infrastructure.