Oman Doubles Oil Storage at Duqm to Bypass Hormuz

OQ SAOC, the state energy firm of Oman, is expanding oil storage capacity at the port of Duqm to create a strategic alternative to the Strait of Hormuz. The company plans to increase onshore crude-tank capacity from 5 million to 10 million barrels over the next three years.

Chief Executive Officer Ashraf Al Mamari announced the expansion as part of a broader effort to leverage Oman's geographic position. To further increase flexibility, the company is evaluating the acquisition of two supertankers to serve as floating storage.

These measures respond to the needs of regional energy producers seeking more secure export routes. By increasing capacity at Duqm, Oman aims to help producers bypass the contested waterway of the Strait of Hormuz to ensure the stability of oil shipments.