Egypt is prepared to facilitate the transport of Saudi Arabian crude oil from the Red Sea port of Yanbu to the Mediterranean via the Sumed pipeline, Petroleum Minister Karim Badawi said on Tuesday. This move is intended to allow the company to avoid the Strait of Hormuz following attacks on maritime shipping, according to the sources. While Aramco typically exports the majority of its crude from ports within the Gulf, a strike over the weekend led to a backlog of vessels. The Sumed pipeline does not constitute a direct alternative to the Strait of Hormuz but acts as a complementary link within a broader logistical chain. Sumed is managed under a joint Arab ownership structure led by Egypt, which holds a 50% stake through the Egyptian General Petroleum Corporation.

Source: Daily News Egypt March 03, 2026 17:52 UTC