TotalEnergies CEO Patrick Pouyanne announced an investment to expand Abu Dhabi’s Fujairah oil export pipeline on Monday. The decision was revealed at the ONS energy conference in Norway.
The expansion provides a strategic alternative to the Strait of Hormuz, which faces frequent disruptions. This key shipping lane currently facilitates about one-fifth of the world’s oil supply.
Pouyanne emphasized the project’s role in securing the company's significant oil trading volumes from Iraq and Qatar. The Abu Dhabi Crude Oil Pipeline currently has a maximum capacity of 1.8 million barrels per day.