ADNOC CEO says Hormuz shut is the most severe supply disruption on record; it will take at least four months to get back to 80% of pre-conflict flows
- Once you accept that a single country can hold the world's most important waterway hostage, freedom of navigation as we know it is finished.
- Used trading networks to expand supply to Asia.
- Working with partners in Asia to expand and restock strategic stock.
- Moved ahead with a new pipeline to bypass Hormuz in 2025, and today it is already 50% complete.
- Global spare capacity is at about 3mln BPD, and should be at 5mln BPD.
- UAE's OPEC exit gives greater flexibility to invest.
- UAE will remain a disciplined, responsible, stabilising force in the energy markets.
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